The global market for oxygen scavenger is projected to have a CAGR of around 4.6% during the forecast period. Oxygen scavenger aids in extending shelf life and product safety by preventing oxidation. They are added to food packaging to limit the level of oxygen to preserve the freshness, flavours, and stability of packaged products. The rising demand for fresh and quality packaged food is the major factor augmenting the growth of the market. The growing concern over the reduction of food wastage creates the demand for oxygen scavenger to store them for a longer period of time. According to the United States, Environmental Protection Agency wasted food costs the commercial food service industry roughly $100 billion annually. Furthermore, according to the GRACE Communications Foundation statistics, US restaurants generate an estimated 22 to 33 billion pounds of food waste each year, and approximately 4 to 10% of food purchased by restaurants is wasted before reaching the consumer.
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Based on end-user, the food packaging segment dominated the market in 2020, and it is anticipated to further hold a significant market share during the forecast period. The use of metallic and non-metallic oxygen scavenger in various industries such as food packaging is increasing due to their fast reactive properties. The use of oxygen scavenger in many applications creates demands for these, which, in turn, further drives the market growth. With the support of an oxygen scavenger, the shelf life of the food products can be extended for many days by lowering the level of oxygen inside the packaging to prevent them from the microorganism. Moreover, the pharmaceutical segment is the fastest-growing segment during the forecast period. The use of oxygen scavengers to protect the drugs by reducing oxidation, and increasing shelf life for cost optimization of drugs creates the demand for these products in the pharmaceutical industry.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Oxygen Scavenger Market Report Segment
By Type
- Metallic
- Non-Metallic
By End-User
- Food Packaging
- Pharmaceuticals
- Industrial/Metal
- Chemicals
- Others (Microbiology)
Global Oxygen Scavenger Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global oxygen scavenger market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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