The global oxygen scavenger market is anticipated to grow at a CAGR of around 4.6% during the forecast period (2024-2031). The oxygen scavenger is a material or combination of reactive compounds incorporated into a package structure that may combine with oxygen and effectively remove the oxygen from the inner package environment. The factors that are driving the growth of the global oxygen scavenger market include the rising demand for good and quality packaged food, and growing concern over wastage of food due to deterioration, across the globe. The increasing consumption of packed foods creates the demand for oxygen scavengers to protect them from microorganism to maintains the quality and freshness of food products and to increase food product’s shelf life. The consumption of packaged food is higher in America, 80% of Americans’ total calorie consumption comes from packaged foods and beverages. According to the New York Times report, Americans eat 31.0% more packaged food than fresh food, and they consume more packaged food per person than their counterparts in nearly all other countries.
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Moreover, the introduction of advanced oxygen scavenger products by the market players further creates ample opportunity for the market in the near future. For instance, in April 2020, PolyOne, a provider of specialized polymer materials and services had launched ColorMatrix Amosorb 4020G, a low-haze oxygen scavenger for polyethylene terephthalate (PET) rigid packaging. The product aids to reduce the impact on recycled PET (rPET), as it minimizes yellowing by 50% at the time of the mechanical recycling process. However, the rising use of oxygen scavengers in various applications such as oil & gas, pharmaceuticals, chemicals, among others will further increase the demand, that will drive the market. Further, the technical issues related to the handling of these products is something that hampers the market growth.
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Market Coverage
- Segment Covered-
o By Type
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- BASF SE, Accepta Ltd., Arkema Group, Ecolab Inc., Clariant International Ltd., Innospec Inc., Kemira Oyj, Mitsubishi Gas Chemical Company, Inc., among others.
Key questions addressed by the report:
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Oxygen Scavenger Market Report Segment
By Type
- Metallic
- Non-Metallic
By End-User
- Food Packaging
- Pharmaceuticals
- Industrial/Metal
- Chemicals
- Others (Microbiology)
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