The global oxygen scavenger market deals with wide range of chemicals and materials used to absorb oxygen from their surrounding environment. These scavengers essentially help in extending the shelf life of packaged foods by preventing oxidation and deterioration. Common oxygen scavengers approved for food packaging include iron-based, ascorbate-based and enzymatic scavengers. The demand for longer lasting packaged foods is driving multiple players to invest in new technologies involving oxygen scavengers.
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 players are focusing on developing advanced enzymatic and biofilm scavengers for food applications.
The demand for oxygen scavengers is witnessing significant growth due to rising applications in food and beverage packaging where they help extend shelf life of products. Factors such as longer supply chains and demand for fresher food are driving their adoption globally.
Technological advancements are allowing manufacturers to develop thin film oxygen scavengers, phase change substrates and intelligent packaging solutions with improved absorption capacities. Numerous smart packaging formats integrated with oxygen indicators are gaining traction.
Market Trends
Modified atmosphere packaging using oxygen scavengers is a key trend, gaining popularity for fruits and vegetable packaging. They help maintain optimum low-oxygen levels for prolonged freshness. Alternative materials such as sachets and pads made of calcium-based inhibitors are also emerging.
Bio-based and biodegradable oxygen scavengers incorporating alginates and other natural polymers are gaining interest due to sustainability priorities of brand owners and retailers. Their recyclable format is stimulating research.
Market Opportunities
Rising demand for packaged seafood and meat products presents an opportunity for increased usage of oxygen absorbers and scavengers. Their ability to delay oxidative rancidity makes them an indispensable part of protein packaging.
Growth of organized retail and e-commerce is pushing investments in innovative active and intelligent packaging formats using oxygen scavengers. Smart sensors incorporated into scavenging films provide real-time status of products.
Global Oxygen Scavenger Market Impact of COVID-19
The COVID-19 pandemic has significantly impacted the growth of global oxygen scavenger market. During pre-COVID times, the market was growing at a steady pace owing to the increasing demand from various end-use industries such as food & beverage, pharmaceutical, power, and oil & gas industries. However, the outbreak of COVID-19 caused disruptions across various supply chains and sluggish demand which slowed down the growth of oxygen scavenger market in 2020.
Post pandemic, while demand is recovering gradually, fluctuating raw material prices and supply chain bottlenecks continue to pose challenges. Manufacturers are focusing on cost optimization and developing innovative product formulations to cater changing market conditions. The food & beverage industry has been one of the major demand generators for oxygen scavengers during the pandemic to maintain product freshness for longer durations. There has also been a rise in demand from pharmaceutical industry to prevent oxidation of drugs and medical equipment.
Going forward, effective distribution channel management, new product development, and expansion into emerging markets will be the key strategies for players. Concerted efforts towards tackling raw material shortages and streamlining logistics are also important for sustainable growth in the post COVID world. Adoption of preventive measures to safeguard workers safety is another area that needs attention.
Geographical Regions with Highest Value Concentration in Global Oxygen Scavenger Market
North America accounts for the largest share of the global oxygen scavenger market in terms of value. This is attributed to strong demand from various industries such as food & beverage, pharmaceutical and oil & gas. The region is home to leading manufacturers and has a well-established distribution network. Growth in this region is driven by increasing awareness about product benefits and stringent packaging regulations to enhance shelf life of goods.
Asia Pacific is the second largest and the fastest growing regional market for oxygen scavengers. Rising per capita incomes, growing population, and increasing foreign investments in end-use industries are fueling demand. China, India, Japan and South Korea are major consumers within Asia Pacific. Government initiatives to strengthen manufacturing base is positively impacting the market.
Fastest Growing Geographical Region in Global Oxygen Scavenger Market
Asia Pacific region is expected to register the fastest growth in global oxygen scavenger market during the forecast period. Booming middle class, rapid urbanization, and expansion of chemical industry are some of the key factors propelling demand. End-use industries such as food & beverage and pharmaceuticals are witnessing strong growth momentum in developing Asian countries.
China and India alone account for over two-fifths of global population, representing vast untapped opportunities. Leading players are heavily investing in capacity additions and strategic collaborations to gain foothold in Asia Pacific's emerging economies. Favorable government policies encouraging manufacturing sector growth along with increasing adoption of advanced packaging technologies are supporting the market expansion. The Asia Pacific oxygen scavenger market is anticipated to witness lucrative growth opportunities on the backdrop of rising industrial activity in the region.
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 behaviour
:- 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
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