Oxygen Scavengers Market Size Analysis, Industry Outlook, & Region Forecast-2027
The global Oxygen Scavengers Market is forecast to reach USD 2.78 Billion by 2027, according to a new report by Reports and Data. Growing demand for packaged new, nutritious, and premium products is expected to fuel the market development. The properties of oxygen absorption provided by scavengers help to preserve the consistency of different consumables. Demand for oxygen scavengers in the food and beverage industry is increasing since they protect from external micro-organisms, spoilage, loss of color and nutrients, and rancidity of food. Food goods are perishable and need protection from ambient oxygen, such as potatoes, nuts, dairy products, and refined grains. Many food goods like nuts, baking objects, and some drinks often need safety to prolong their shelf life and avoid food wastage. Rising demand from the chemical processing industry is also anticipated to accelerate the market. Increasing R&D operations and numerous government regulations are likely to cause production, boosting consumer demand
In an effort to remain profitable, owing to the
growing applications of oxygen scavengers, a substantial number of producers
are oriented towards the demand for producing less harmful scavengers. Metallic
oxygen scavengers made up 62.99% of the market in 2019. The market can be due
to these scavengers' widespread usage, quick response, increased efficiency,
and cost-effectiveness. Where metal detecting presents an issue, non-metallic
scavengers are likely to be required. The hunters are used for dietary products
that involve iron contact avoidance. Market technological innovations to
develop advanced packaging solutions will likely fuel market share over the
forecast period.
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Extensive research & development carried out in
various countries by leading manufacturers to develop packaging techniques to
offer protection against outside oxygen. Oxidative loss is one of the troubling
challenges many drug makers face in the pharmaceutical industry. The product
prevents the permeation of oxygen by packaging and preserves the potency of
pharmaceutical products for a more extended period. It also assists in cost
optimization during the manufacture and distribution of medications. Increasing
R&D activities underpinned by huge financial investments will soon
accelerate the pace of the pharmaceutical packaging sector. Such patterns
pointed to above are expected to fuel demand development during the forecast
era.
Competitive Outlook:
This section of
the report performs a thorough investigation into the intensely competitive
landscape of the global oxygen scavengers market, highlighting the leading manufacturers,
strategic initiatives adopted by them, the existing growth prospects, market
positions, and market shares held by each participant. The report further emphasizes the
developmental strategies undertaken by these companies, including product
innovation, new product launches, and technological upgradation. Moreover, the
report studies the notable business events observed in this industry, such as
mergers & acquisitions, joint ventures, partnerships, corporate deals, and
brand promotions.
Key
companies operating in the market and profiled in the report include:
· SUEZ
Water Technologies & Solutions
· Mitsubishi
Gas Chemical Company Inc
· Henkel
AG & Co. KGaA
· Multisorb
Technologies Inc
· Clariant
International Ltd
· Angus
Chemical Company
· BASF
SE
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Further key findings from the report
suggest
- Based
on the type, non-metallic generated a revenue of USD 709.25 Million in
2019 and believed to grow considerably with a CAGR of 4.5% in the forecast
period due to the less hazardous environment and improved usage of
scavengers in food packages.
- The
liquid form expected to grow with a CAGR of 4.9% in the forecasted period
due to the effectively eliminate residual oxygen in boilers, thereby
preventing degradation in various sections.
- The
food and beverage application is the major contributor to the Oxygen
Scavengers Market. The food and beverage sectors of the North America
region are the major shareholder of the market and held around 27.3% of
the market in the year 2019, owing to the growing usage of oxygen
scavengers in food items to prolong their shelf-life and to avoid
rancidity and nutrient loss.
- North
America dominated the market for Oxygen Scavengers in 2019, due to the
growing demand from the pharmaceutical packaging and oil & gas
industries coupled with the increasing substance retention procedures.
North America region held approximately 33.3% of the market, followed by
the Asia Pacific, which contains around 28.6% market in the year 2019.
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Segments Covered in the report
Type Outlook (Volume, Kilo Tons;
2017-2027) (Revenue, USD Billion; 2017-2027)
- Metallic
- Non-Metallic
Form Outlook (Volume, Kilotons; 2017-2027,
Revenue, USD Billion; 2017-2027)
- Sachets/Canisters/Bottle
Caps & Labels
- OS
Films & PET Bottles
- Liquid
- Powder
Application Outlook (Volume, Kilo Tons;
2017-2027) (Revenue, USD Billion; 2017-2027)
- Food
& Beverage
- Pharmaceutical
- Chemicals
- Oil
& Gas
- Power
Generation
- Others
Regional Outlook (Volume, Kilo Tons;
2017-2027) (Revenue, USD Billion; 2017-2027)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
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