Global Oxygen Scavenger Market Is Driven By Increased Usage In Food Packaging

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The global oxygen scavenger market comprises products such as metal scavengers and non-metal scavengers that remove oxygen from packaging headspaces and prevent the degradation of packaged products. Oxygen scavengers help extend the shelf life of food products by absorbing residual oxygen inside food packages. They help prevent spoilage caused by oxidation and are commonly used in flexible film & packaging for food, beverages, and pharmaceuticals.

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. The growing demand for oxygen scavengers from the food and pharmaceutical industries is expected to drive market growth over the forecast period. Manufacturers are also focusing on expanding their production facilities ...
... globally to cater to the rising product demand from emerging markets.

Market Drivers

The increasing need to reduce food waste and extend shelf life is a major driver for the global oxygen scavenger market. Oxygen scavengers prevent oxidation and help tackle the estimated 1.3 billion tons of food wasted annually worldwide. They play a key role in minimizing packaging-related losses for food producers and retailers. The market is also driven by stringent regulations regarding food safety and quality management. Regulatory bodies emphasize the adoption of effective packaging technologies like oxygen scavengers.

Global Oxygen Scavenger Market - Current Geopolitical Situation and Impacts

The current geopolitical situation has brought several challenges for the global oxygen scavenger market. Rising trade tensions between major economies like the US and China have disrupted supply chains significantly. Being an essential packaging material, any fluctuation in raw material costs directly impacts the oxygen scavenger industry. The ongoing war between Russia and Ukraine has also affected energy prices across Europe and other parts of the world. This puts cost pressure on oxygen scavenger producers as energy is a major input in manufacturing.

With economies experiencing uncertainties and volatility, investments in new product development have slowed down. This can delay innovations and launch of novel oxygen scavenger formulations. Additionally, sanctions on Russia have closed off an important market. Europe remains highly dependent on Russian energy and raw material exports. This overdependence makes the European oxygen scavenger industry vulnerable to geopolitical events.

Given these challenges, companies must focus on diversifying their supplier networks, optimizing manufacturing processes for lower energy consumption, and expanding into new emerging markets. They also need to explore renewable and sustainable raw material sourcing to reduce dependency on fossil fuels. Cost competitiveness through scale, efficiency and technology will be vital to withstand fluctuations in input costs and currencies.

Global Oxygen Scavenger Market - Geographical Concentration in Terms of Value

In terms of value, North America accounts for the largest share in the global oxygen scavenger market currently. The lucrative food and beverage industry along with strong pharmaceutical sector drive significant demand from the US and Canada. Asia Pacific follows North America with China, India and Japan forming major consumption hubs. Growth in the manufacturing and industrial sectors amplifies oxygen scavenger usage during material transportation and storage in Asia Pacific.

Europe is another prominent regional market led by Germany, UK, Italy and France. Well established regulations regarding product quality and safety make oxygen scavengers an integral part of food and chemical packaging in Europe. Meanwhile, Latin America and Middle East are emerging as promising growth regions riding on rapid urbanization and rising living standards.

Global Oxygen Scavenger Market - Fastest Growing Region

Asia Pacific region is poised to witness the fastest growth in the global oxygen scavenger market over the next decade. This can be attributed to surging industrial and consumer goods production across developing Asian countries. China remains the production powerhouse while India is ascending as a new manufacturing center. Furthermore, Asia Pacific has a massive population with changing lifestyles and consumption patterns. This bolsters market opportunities for packaged foods, beverages, pharmaceuticals - all relying on oxygen scavengers for extended shelf life.

Rising disposable incomes also enable Asian consumers to opt for premium packaged products requiring advanced oxygen control solutions. Favorable government initiatives are facilitating foreign investments and new plant set-ups. These factors are expected to substantially increase oxygen scavenger demand from Asia Pacific compared to other global regions in the coming years.

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

Q.1 What are the main factors influencing the Global Oxygen Scavenger market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Oxygen Scavenger Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Oxygen Scavenger market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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