by Oxygen Scavengers are substances that remove dissolved oxygen from packages, primarily to extend the shelf life of products susceptible to oxidation. They prevent spoilage of products by absorbing ambient oxygen in headspaces of packages before or after sealing. Oxygen scavengers are commonly used in food, pharmaceuticals, and beverage industries to preserve perishable products. Their advantages include extending shelf life without refrigeration, preventing oxidation rancidity, color changes and nutritional value losses. The global oxygen scavenger market is driven by growing demand for extending shelf lives while eliminating preservatives from packaged foods.
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 – 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.
Growing demand – Growing demand for longer shelf life of packaged foods without preservatives and vaccines is driving uptake of oxygen scavengers. Consumer preference for natural and clean label products is propelling their use.
Global expansion – Leading players are undertaking capacity expansions and new product launches to expand globally. Acquisitions are increasing to cater emerging markets and develop innovative solutions.
Market Key Trends
The rise in e-commerce food and pharmaceutical distribution during COVID-19 pandemic has boosted demand for oxygen scavengers to preserve freshness during transportation and storage. Advancements in active and intelligent packaging technologies integrated with oxygen scavengers are releasing new product variants with improved efficacies. Bio-based and biodegradable oxygen scavengers are gaining traction owing to sustainability preferences.
Porter’s Analysis
Threat Of New Entrants: New companies need significant capital investment to build production facilities and develop distribution networks to compete with established players in the oxygen scavenger market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes however switching costs limit their power to some extent.
Bargaining Power Of Suppliers: Suppliers have moderate bargaining power due to availability of alternatives and inability to significantly influence prices.
Threat Of New Substitutes: Potential threat from substitutes like antioxidants and inert gas purging is low as they are not as effective as oxygen scavengers.
Competitive Rivalry: Intense competition exists between major players to gain higher market share through product innovation and strategic partnerships.
Geographical Regions
North America accounts for the largest share in the global oxygen scavenger market in terms of value due to high demand from food & beverage, pharmaceutical and chemical industries in the region. Asia Pacific is expected to witness the fastest growth during the forecast period driven by rising meat consumption and increasing packaging needs in China, India and other developing countries.
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?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
