The Global Oxygen Scavenger Market Will Grow At Highest Pace Owing To Increasing Demand From Food & Beverage Industry

The Global Oxygen Scavenger Market Will Grow At Highest Pace Owing To Increasing Demand From Food & Beverage Industry

The global oxygen scavenger market comprises oxygen scavenging sachets and labels, bottles, and other products that are used for preventing oxidation in packaged food products, beverages, pharmaceuticals, and chemical products. Oxygen scavengers react with oxygen molecules to prevent products from degradation that can be caused due to oxidation. They help in improving the shelf life of packaged products by protecting them from oxidation and providing an anaerobic environment. Oxygen scavengers work through various mechanisms such as oxidation-reduction, photon absorption, and hydrolysis and are used across various end use industries including food & beverages, pharmaceuticals, chemicals, oil & gas, and power generation.

The Global Oxygen Scavenger Market Size Is Estimated To Be Valued At US$ 2.4 Bn In 2024 And Is Expected To Exhibit A CAGR Of 5.4% Over The Forecast Period 2024-2031.

Key Takeaways

Key players operating in the global oxygen scavenger market are BASF SE, Mitsubishi Gas Chemical Company, Inc., Ecolab Inc., Clariant Ltd., Kemira OYJ, Arkema Group, Baker Hughes Company, Sealed Air Corporation, Solenis LLC, Polyone Corporation, Avient, Cortec Corporation. These key players are focusing on new product launches, expansions, and mergers & acquisitions to strengthen their global distribution networks and market position.

The increasing demand from the food & beverage industry is one of the major factors driving the growth of the global oxygen scavenger market. Oxygen scavengers help extend the shelf life of packaged foods, juices, and carbonated beverages by preventing oxidation degradation. They protect essential fatty acids, proteins, and vitamins from being oxidized thereby maintaining the quality, taste, aroma, and freshness of food and beverage products for a longer time.

Technological advancements are also fueling the oxygen scavenger market growth. Manufacturers are developing advanced oxygen scavenger sachets, labels, and bottles made of recyclable materials that can effectively remove oxygen from packaged products. These intelligent and smart oxygen scrubbing solutions are ideal for applications across industries.

Market Trends

One of the key trends in the oxygen scavenger market is the increasing demand for bio-based and green oxygen scavengers. Manufacturers are developing eco-friendly oxygen scavenger solutions that are derived from renewable plant sources instead of petrochemicals. They offer comparable shelf-life extension capabilities.
Another trend is the rising use of active and intelligent packaging systems integrating oxygen scavengers. These advanced packaging techniques incorporate oxygen indicators and absorbers together providing real-time oxygen level monitoring and removal inside packages.

Market Opportunities

Growing focus on developing economies in Asia Pacific and Latin America represents a major opportunity for oxygen scavenger producers. Expanding food processing, pharmaceuticals, and chemical industries in these regions will drive the need for innovative shelf-life extension solutions.
Shift towards sustainable packaging also opens opportunities. Oxygen scavenger manufacturers can tap into the growth potential by offering recyclable and compostable options made from green materials.

Impact Of COVID-19 On Global Oxygen Scavenger Market Growth

The COVID-19 pandemic has significantly impacted the growth of the global oxygen scavenger market. During the initial lockdown phases across many countries, the demand from key end-use industries like food and beverage, pharmaceutical, and oil and gas saw a steep decline. Plant shutdowns and supply chain disruptions affected the production and sales of oxygen scavengers globally. However, with gradual resumption of operations and emphasis on safety and hygiene, the demand is recovering steadily.

The demand from the food and beverage industry has seen steady recovery in the post-COVID period. Processing, packaging, and distribution of various food products require oxygen scavengers to prevent oxidation and extend shelf life. Additionally, growing demand for bottled beverages amid the pandemic has boosted sales. In the pharmaceutical sector, oxygen scavengers are crucial in protective packaging of vaccines, biologics, and other medical supplies. With intensified R&D towards COVID vaccines and therapeutics, the consumption is rising. The oil and gas industry is also gaining momentum with recovery in crude oil prices and demand. Protective packaging of pipes and equipment utilizes oxygen scavenger technology.

Looking ahead, advanced oxidation technologies requiring specialized oxygen scavengers are expected to see higher investments. Additionally, growing emphasis on food safety and quality packaged foods will drive the market. However, continued supply chain disruptions remain a challenge. Adopting regional production hubs and developing strategic partnerships can help address such issues in the future.

Geographical Regions With Highest Global Oxygen Scavenger Market Value

North America accounts for the largest share of the global oxygen scavenger market in terms of value. This is attributed to well-established food and beverage industry with emphasis on innovative packaging technologies. Additionally, advanced pharmaceutical manufacturing base along with shale gas and oil exploration projects drive the consumption. Leading international players are headquartered in the US, providing technical expertise.

Europe is another major regional market, led by countries like Germany, UK, and France. Stringent food safety norms and adoption of preventive packaging technologies fuel the oxygen scavenger demand from major FMCG companies. Aerospace, oil and shipping industries also utilize the product for corrosion protection.

Fastest Growing Region For Global Oxygen Scavenger Market

The Asia Pacific region is poised to witness the fastest growth in the coming years. This can be attributed to increasing food processing and rising pharmaceutical output fromIndia and China. Rapid industrialization, favorable FDI policies, and growing disposable incomes are bolstering the consumption. Japan dominates the APAC market with leading manufacturers supplying globally.

South East Asia and the Middle East will exhibit high incremental growth with expanding oil exploration projects and infrastructure development activities. Increasing investments towards production facilities by international players and rising R&D spending will further facilitate the regional market growth.

What are the key data covered in this Global Oxygen Scavenger Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Oxygen Scavenger Market's growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Oxygen Scavenger  Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Global Oxygen Scavenger  Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Oxygen Scavenger  Market vendors

FAQ’s

Q.1 What are the main factors influencing the Global Oxygen Scavenger market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Oxygen Scavenger Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Oxygen Scavenger market’s distributors, traders, and dealers?
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Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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