The global oxygen scavengers market was valued at USD 2 billion in 2019 and is projected to reach over USD 3 billion by 2026, expanding at a CAGR of more than 6% during the forecast period, 2020–2026. The growth of the market is attributed to the rising concerns about food wastages and safety issues worldwide.
Oxygen scavengers, also called oxygen absorber, are essentially used to expel oxygen from different kinds of processes such as food processing and boiler systems. It forestalls deteriorative responses brought about by availability of oxygen, in this manner improving operational capacity of different items and procedures. Oxygen scavengers explicitly utilized for packaging applications fall under the class of dynamic packaging. This kind of packaging is frequently utilized in nourishment and drink and pharmaceutical areas, and it reacts to changes happening in the general condition. The item assists with limiting negative impacts of oxygen, while expanding the time span of usability of packaged items. In boilers, it is utilized related to de-aerators to evacuate remaining oxygen content and restrain consumption.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising demand for fresh and quality packaged food items is driving the growth of the market.
- Growing demand for ready-to-eat food that has a longer shelf life is a favourable factor driving the market growth.
- Rising concerns regarding the non volatile nature of oxygen scavengers is acting as a restraint for the growth of the market.
- Increasing issues of end product toxicity due to its excessive use is a restraint in the market growth.
- The unexplored markets of emerging economies and the use of latest packaging technologies are opportunities for the growth of the market.
Some of the other key players operating in the market include Mitsubishi Gas Chemical Company, Inc., Clariant AG, Henkel AG & Co. KGaA, Sealed Air Corporation, Multisorb Technologies Inc., Toyo Seikan Co. Ltd., Desiccare, Inc., Angus Chemical Company, Solenis LLC, Arkema, Tetra Technologies, Inc., Baker Hughes, SUEZ Water Technologies & Solutions, Ecolab Inc., and Veolia Water Technologies. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.
The Global Oxygen Scavengers Market has been segmented on the basis of
- Food & Beverage
- Oil & Gas
- Asia Pacific
Middle East & Africa
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Oxygen Scavengers Market Overview
- Global Oxygen Scavengers Market Analysis and Forecast by Type
- Global Oxygen Scavengers Market Analysis and Forecast by Application
- Global Oxygen Scavengers Market Analysis and Forecast by Sales Channel
- Global Oxygen Scavengers Market Analysis and Forecast by Region
- North Oxygen Scavengers Market Analysis and Forecast
- Latin Oxygen Scavengers Market Analysis and Forecast
- Europe Oxygen Scavengers Market Analysis and Forecast
- Asia Pacific Oxygen Scavengers Market Analysis and Forecast
- Middle East & Africa Oxygen Scavengers Market Analysis and Forecast
- Competition Landscape
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