Projected Compound Annual Growth Rate (CAGR) of 5.1% from
2023 through 2028 Indicates Steady Expansion for Global Oxygen
Scavenger Market.
BOSTON, March 29,
2024 /PRNewswire/ -- Oxygen scavengers preserve food
and beverage products in packaging, prevent corrosion in boilers,
and help reduce the staggering $400
billion annual global food waste. Government initiatives for
sustainable packaging are boosting demand, making the oxygen
scavenger market ripe for strategic advancements and
investments.
"According to the latest BCC Research study, the demand for
Global Oxygen Scavenger Market is estimated to increase from
$2.4 billion in 2023 to reach
$3.1 billion by 2028, at a compound
annual growth rate (CAGR) of 5.1% from 2023 through 2028."
The report offers comprehensive insights into the oxygen
scavenger industry, encompassing various types of compositions,
end-use industries, and forms utilized within this sector. Detailed
analysis will be provided on the diverse compositions employed in
oxygen scavengers, shedding light on both organic and inorganic
variants. Furthermore, the report will delve into the extensive
array of end-use industries that rely on oxygen scavengers, ranging
from food and beverage to pharmaceuticals, power generation, oil
and gas, pulp and paper, and chemical sectors. Through meticulous
examination of manufacturers' total revenues, estimated values in
constant U.S. dollars will be presented, offering projections
unadjusted for inflation. This report is poised to serve as a
valuable resource, furnishing stakeholders with in-depth insights
and strategic guidance about the oxygen scavenger industry and its
users.
Startup companies are at the forefront of innovation in
sustainable food packaging, intensifying their research and
development efforts in processed food packaging. As the consumption
of processed foods continues to rise, there is a growing demand for
oxygen scavenger packaging to prolong shelf life and maintain
product freshness. Simultaneously, within the pharmaceutical
industry, manufacturers are increasingly integrating oxygen
scavenger technology to extend the shelf life of drugs, diagnostic
kits, surgical equipment, health supplements, and medical devices.
This adoption reflects the industry's recognition of the importance
of preserving product integrity and efficacy. Amidst the global
oxygen scavenger market, numerous smaller and local companies play
pivotal roles, often focusing on niche markets or offering
specialized products. For example, Chemfax, a Canadian-based
company, specializes in developing oxygen scavengers tailored for
hot and cold-water circuits, demonstrating the diversity and
specialization within the market.
Explore the full report on the burgeoning Global Oxygen
Scavenger Market for comprehensive insights and forecasts – click
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Key Drivers of the Global Oxygen Scavenger Market
Rising Demand from Healthcare Industry: The healthcare
industry serves as a significant driver for the adoption of oxygen
scavengers, essential for upholding the quality and safety of
medical devices, pharmaceuticals, and diagnostic kits. These
scavengers play a crucial role in eliminating dissolved oxygen,
thereby averting oxidation and degradation of sensitive healthcare
products. With the global escalation in demand for healthcare
services, the necessity for dependable oxygen scavenging solutions
experiences a parallel surge.
Initiatives by Regulatory Bodies to Improve Food Safety
Across Countries: Regulatory bodies worldwide are actively
engaged in elevating food safety standards, prompting the
utilization of oxygen scavengers within the food and beverage
sector. These scavengers are instrumental in prolonging the shelf
life of packaged goods by minimizing oxygen exposure, thus
preserving product freshness, averting spoilage, and bolstering
consumer safety. As regulatory endeavors intensify, the adoption of
oxygen scavengers becomes imperative for upholding food quality
standards and curbing food wastage.
Request a Sample Copy of the Global Oxygen
Scavenger Market Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2022
|
Forecast Period
considered
|
2023-2028
|
Base year market
size
|
$2.3 billion
|
Market Size
Forecast
|
$3.1 billion
|
Growth Rate
|
CAGR of 5.1% from 2023
to 2028
|
Segment
Covered
|
By Type, Form,
Composition, End-use Industry, and Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and Rest of the World (RoW)
|
Key Market
Drivers
|
•
Rising Demand from Healthcare
Industry
•
Initiatives by Regulatory Bodies to
Improve Food Safety Across Countries
|
Global Oxygen Scavenger Market Segmentation
Analysis
Type Segmentation
The segmentation by type divides oxygen scavengers into
metallic and non-metallic categories. Metallic oxygen scavengers,
including iron, zinc, and sulfite-based compounds, are widely
utilized in various industries such as food, pharmaceuticals, and
water treatment. These compounds effectively remove oxygen from
environments, preventing oxidation and preserving product quality.
On the other hand, non-metallic oxygen scavengers like hydrazine
and DEHA offer alternative solutions, particularly in applications
such as boiler water treatment and polymer production, where
metal-based scavengers may not be suitable.
Composition Segmentation
Segmentation based on composition distinguishes between
organic and inorganic oxygen scavengers. Organic scavengers,
derived from natural or synthetic compounds, provide versatility
and efficacy in preserving product quality. They find extensive use
in food packaging and pharmaceuticals, where maintaining freshness
and extending shelf life are paramount. Inorganic scavengers,
composed of minerals or chemical compounds, offer robust oxygen
removal capabilities, ensuring the prevention of degradation and
maintaining product integrity in various industrial
applications.
Form Segmentation
The form segmentation categorizes oxygen scavengers into
powder, resin, and liquid forms, each tailored to specific
application needs. Powdered scavengers, typically enclosed in
sachets, are convenient for placement within product packaging to
absorb oxygen and preserve product freshness. Resin-based
scavengers, integrated into plastic materials during manufacturing,
provide long-lasting oxygen-absorbing properties, ideal for
extended product storage. Liquid scavengers, added directly to
liquids or used in water treatment processes, effectively prevent
corrosion and maintain water quality in diverse industrial
settings.
End-Use Segmentation
End-use segmentation highlights the diverse applications of
oxygen scavengers across various industries. In the food and
beverage sector, these scavengers play a critical role in extending
shelf life and preserving product freshness. Similarly, in
pharmaceuticals, they protect sensitive drugs and medical devices
from oxygen-induced degradation, ensuring product efficacy and
safety. In power plants, oxygen scavengers prevent corrosion in
boilers and steam systems, enhancing equipment longevity and
operational efficiency. Moreover, in industries such as chemicals,
oil and gas, and paper and pulp, oxygen scavengers are
indispensable for maintaining product quality, preventing
corrosion, and preserving infrastructure integrity.
This report on the Global Oxygen Scavenger Market provides
comprehensive insights and analysis, addressing the following key
questions:
1. What is the projected market size and growth
rate of the market?
The global oxygen scavenger market is projected to grow from
$2.3 billion in 2022 to $3.1 billion in 2028 at a compound annual growth
rate (CAGR) of 5.1% during the forecast period.
2. What are the key factors driving the growth
of the market?
The key factors driving the growth of the oxygen scavenger
market include:
- Rising demand from healthcare industry.
- Initiatives by regulatory bodies to improve food safety
across countries.
3. What segments are covered in the
market?
The oxygen scavenger market is segmented on the basis of
type, end-use, form, composition, and region. By type, it is
segmented into metallic oxygen scavengers and non-metallic oxygen
scavengers; by composition the market is segmented into organic and
inorganic; by form, the market is segmented into powder, liquid,
and resin; by end-use, the market is segmented into food &
beverage, pharmaceutical, power, oil & gas, pulp & paper,
chemical, and others.
4. By end-use, which segment will dominate the
market by the end of 2028?
The food and beverage segment will dominate by the end of
2028. Processed food manufacturers are regularly buying oxygen
scavenger products for their food packaging. Oxygen scavengers can
be incorporated into containers, sachets, stickers, labels, and
packaging film.
5. Which region has the highest market share in
the market?
Europe holds the highest
share of the market. European end-consumers mostly consume packaged
foods in their daily life. Also, these consumers are continuously
demanding processed food products and ready-to-eat products. The
European Union designed several strict norms for food packaging.
These rules are designed based on plastic materials, recycled
plastic materials, regenerated cellulose film, and active and
intelligent materials. These are the driving factors of the
European oxygen scavenger market.
Some of the Key Market Players Are:
- ACCEPTA WATER TREATMENT
- ANGUS CHEMICAL CO.
- ARKEMA
- AVIENT CORP.
- BASF SE
- CHARDON LAB
- CLARIANT
- DESICCARE INC.
- EASTMAN CHEMICAL CO.
- ECOLAB
- HENKEL AG & CO. KGAA
- MITSUBISHI GAS CHEMICAL CO. INC.
- MULTISORB
- THE SHERWIN-WILLIAMS CO.
- THERMAX LTD.
Browse Related Reports:
Active, Controlled, and Intelligent Packaging for Foods and
Beverages: This report offers a comprehensive analysis
of the global active, controlled, and intelligent packaging market
for food and beverage, covering various segments based on type and
application. With the base year set in 2022 and forecasts extending
to 2028, the study provides insights into revenue trends in U.S
dollars, millions. Active packaging includes oxygen scavengers,
moisture controllers, ethylene absorbers, edible films,
antimicrobial agents, carbon dioxide scavengers/emitters, and
temperature control packaging. Controlled packaging encompasses
modified atmosphere packaging, controlled atmosphere packaging,
retort packaging, sous-vide packaging, and biodegradable
polymers/biopolymers. Intelligent packaging consists of radio
frequency identification, time/temperature indicators, freshness
indicators, electronic article surveillance, electronic shelf label
systems, and hybrid and interactive packaging. Applications span
across food and beverages, presenting a holistic view of the market
dynamics at both global and regional levels.
Directly Purchase a copy of the
report with BCC Research.
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touch with info@bccresearch.com.
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