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Oxygen Scavenger Market to Reach $5.6 Billion by 2033; Rising Demand for Premium Packaged


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Increasing packaged food will drive the market’s growth. North America emerged as the largest global oxygen scavenger market, with a 39.8% market revenue share in 2023.

Newark, April 23, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 3.2 billion oxygen scavenger market will reach USD 5.6 billion by 2033. The main purpose of oxygen scavengers, sometimes called oxygen absorbers, is to lessen or eliminate oxygen from various package types and boiler-feed water. It improves the functioning of many products and processes by halting degrading reactions caused by oxygen availability. Oxygen scavengers used only for packaging are included in active packaging. This type of packaging is widely used in the food, beverage, and pharmaceutical industries and responds to environmental changes. Oxygen scavengers can prolong the shelf life of packaged food by lowering the oxygen content, which is a major cause of food deterioration. Because it prolongs the freshness of perishable foods, this is particularly significant. Food that is packaged fresh and of excellent quality is essential for maintaining nutritional value and flavour. By helping maintain meals’ nutritional value, oxygen scavengers preserve meals’ health benefits. As the food sector grows more globalised, items that can endure longer transportation and storage times are in high demand. Oxygen scavengers are essential to maintaining food freshness throughout these vast supply chains.

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Report Coverage Details

Report Coverage

Details

Forecast Period

2024–2033

Base Year

2023

Market Size in 2023

USD 3.2 Billion

Market Size in 2033

USD 5.6 Billion

CAGR

5.8%

No. of Pages in Report

231

Segments Covered

End-User

Drivers

Increasing demand across industries for premium packaged products

Opportunities

Technological advancement

North America will account for the largest market size during the forecast period.

The region’s rise is credited to the increasing demand for high-quality packaged food. Furthermore, several food safety laws and regulations created by the EPA are anticipated to benefit the market. Throughout the projected duration, the market expansion is anticipated to be supported by the increasing utilisation of oxygen scavengers in the chemical, food, and beverage sectors. For instance, Avient created a novel non-nylon scavenger in May 2021 that uses up to 100% recycled PET (rPET) content. The most recent addition to the ColorMatrix additive line, ColorMatrixAmosorb 4020R, was created to promote plastic packaging recycling. Additionally, this additive works well with different rPET grades, enabling brand owners to achieve their sustainability objectives. Therefore, during the projection period, industry growth is driven by the strategies and presence of the region’s leading players.

The food and beverages segment dominated the market with the most significant revenue of USD 0.73 billion.

The food and beverages segment dominated the market with the most significant revenue of USD 0.73 billion. Food and beverage is the largest end-use market for oxygen scavengers because of the increase in convenience food demand, the rise in higher-quality packaged food demand, the decline in food waste, and the quick urbanisation of emerging nations.

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Market Dynamics:

Drivers: Increasing demand for fresh packaged food

Oxygen scavengers are substances that remove trapped oxygen from sealed containers. These scavengers are typically employed during packaging to stop rancidity, colour changes, spoiling, mould growth, loss of nutritional content, and overall product quality loss. These scavengers increase the product’s shelf life while preserving the food’s natural quality. Oxygen scavengers inhibit the development of aerobic pathogens and organisms that cause food deterioration, as well as the oxidation of vitamins A, C, and E, the breakdown and rancidity of polyunsaturated fats and oils, and the non-enzymatic browning of fruits and certain vegetables. Products are healthier when oxygen scavengers are used. These elements are fuelling the global market for oxygen scavengers’ expansion.

Restraint: Non-volatile nature

Oxygen scavengers are a very efficient way to prevent expensive boiler equipment from corroding in many different sectors. In water treatment applications, sulfites and bisulfites are the most often utilised oxygen scavengers. These scavengers, however, do not depart the boiler with the steam since they are non-volatile. These oxygen scavengers increase the amount of dissolved solids in the water, which changes its conductivity. To maintain the right chemistry of boiler water, this contaminant needs to be eliminated from the system through blowdown. This is one of the main things holding back the market expansion for oxygen scavengers.

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Some of the major players operating in the oxygen scavenger market are:

● Angus Chemical Company
● Baker Hughes
● Clariant Inc.
● Eastman Chemical Company
● Henkel AG & Co. KGaA
● Kemira
● Plastichem (PTY) LTD
● Sealed Air Corporation
● Tetra Technologies, Inc.
● Accepta Ltd.
● BASF SE
● Desiccare, Inc.
● Ecolab Inc.
● Innospec Inc.
● Multisorb Technologies Inc.
● PolyOne Corporation
● SUEZ Water Technologies & Solutions

Key Segments cover in the market:

By End-User:

● Pharmaceutical
● Oil & Gas
● Pulp & Paper
● Food & Beverage
● Power
● Chemical
● Others

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About the report:

The global oxygen scavenger market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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