The global oxygen scavenger market involves the manufacturing and application of various chemical blends that help eliminate residual oxygen from packages. Oxygen scavengers are primarily used in metal cans and bottles used for packaging of food and beverages to increase shelf life by preventing oxidation of contents. They react with oxygen to form non-toxic products and are available as sachets, pads, bottles or films. Common oxygen scavenger formulations include iron-based, ascorbate-based and others made of enzymes and unsaturated hydrocarbons. These scavengers efficiently absorb oxygen at very low concentrations without affecting packaged products. The food industry widely employs oxygen scavengers for packaging various products including meat, snacks, dairy and others. They help reduce the chances of product spoilage and extend freshness.

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. There is growing demand for oxygen scavengers from packaging industries globally as manufacturers focus on increasing shelf life of packaged food items. The market is also witnessing expansion in Asia Pacific region owing to rising consumption of packaged foods and large production capacities in countries like China, India and Japan.

Rising consumption of packaged foods and beverages is fueling the need for effective oxygen removal solutions to extend product shelf life. Countries like the US, Germany, UK and China have seen double digit growth in sales of packaged snacks, dairy and other grocery items in last few years. This has directly contributed to oxygen scavenger demand.

Global manufacturers are focusing on entering partnerships and setting up production facilities across Asia Pacific and Middle East & Africa to capitalize on rapid industrialization. Regions like ASEAN offer cost competitive manufacturing environments and access to developing packaging markets. This has aided global expansion of key oxygen scavenger providers.

Market Drivers

Increasing consumption of packaged foods is a key factor propelling the oxygen scavenger market. As more people opt for convenience packaged grocery items, it is imperative for brands to ensure maximum product freshness. Oxygen scavengers have emerged as efficient barriers against oxidative damage, fueling their adoption. Rising global population and changing lifestyles continue to augment packaged food and drinks industry. This directly drives the requirement for oxygen elimination technologies.

Impact Of Geopolitical Situation On The Growth Of Global Oxygen Scavenger Market

The global oxygen scavenger market is facing challenges due to the geopolitical tensions arising due to the Russia-Ukraine conflict. The supply chain disruptions caused by this war has increased the raw material prices and logistics costs significantly for the manufacturers. This is negatively impacting the profit margins of companies. Furthermore, the imposition of economic sanctions on Russia by Western nations has further restricted the international trade activities. This is hampering the exports and imports between different geographical regions. The global fertilizer shortage and rising food prices due to the conflict is also affecting the disposable income of consumers across many economies. This may reduce the spending on non-essential products like oxygen scavengers in the coming years. To overcome these challenges, the oxygen scavenger companies need to diversify their supply networks, locally source raw materials and explore new export markets. Adopting advanced technologies for cost cutting and operational efficiency would also help them to sustain profitable growth despite recession fears in the global economy.

Geographical Regions Where Global Oxygen Scavenger Market Value Is Concentrated

North America dominates the global oxygen scavenger market in terms of value due to high demand from oil & gas and food & beverage industries in the US and Canada. According to estimates, the North American region accounted for over 30% share of the total market revenue in 2024. Europe and Asia Pacific are other major markets, driven by extensive usage of oxygen scavengers in chemical, power and petrochemical sectors. In Europe, countries like Germany, UK and France are the top consumers while China, India and Japan contribute significantly to the Asia Pacific regional market.

Fastest Growing Region For Global Oxygen Scavenger Market

South America is poised to be the fastest growing region for the global oxygen scavenger market during the forecast period of 2024-2031. This is attributed to increasing oil & petrochemical production along with rising investments in industrial sectors across Brazil and Argentina. The rising meat exports from Brazil, Uruguay and other South American countries are also augmenting the demand for oxygen scavengers from food packaging industry. The growing population, urbanization and rapidly developing economies in the region are further expected to boost the overall oxygen scavenger consumption in South America over the next seven years. Its projected CAGR is estimated to be over 6%, surpassing other regions during the forecast timeline.

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 behavior

:- 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?

Get more insights on this topic: https://www.tumblr.com/benstiller77/747463745934163968/the-global-oxygen-scavenger-market-will-grow-at?source=share