Austin, Oct. 18, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider Research, The Oxygen Scavenger Market is projected to experience significant growth, reaching USD 8.2 billion by 2032, with a compound annual growth rate of 6.0% from 2024 to 2032.
Trends Impacting the Oxygen Scavenger Market
The increasing demand for efficient preservation methods to improve the shelf life of products is a major factor contributing to the growth of the oxygen scavenger market. Oxygen scavengers are substances that interact with oxygen to prevent oxidative spoilage of products spoilage in a food or beverage product would refer to degradation of flavor, color, nutrients, and such. Consequently, there is a notable growth in demand in the Food & Beverage industry. In addition, the global trend of adopting sustainable and environmentally friendly packaging solutions is also adding to the increasing demand for oxygen scavengers. As more and more consumers prefer products with the latest packaging technology that reduces waste and the lifespan of decay in the materials, there is increasing demand. The FAO estimates that one third of all food produced around the world goes to waste. The government-initiated programs to reduce waste and encourage the food industry to be more sustainable also boost the market.
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Key Players:
Key Manufacturers
- SUEZ Water Technologies & Solutions (Oxygen Scavenger Products)
- BASF SE (BASF Oxygen Scavengers)
- Mitsubishi Gas Chemical Company, Inc. (MGK Oxygen Scavenger)
- Arkema Group (Arkema Oxy-Saver)
- Ecolab Inc. (Ecolab Oxygen Scavenger Solutions)
- Clariant AG (Clariant OxyGuard)
- Accepta (Accepta 8206)
- Kraft Chemical Company (Kraft Oxygen Scavenger)
- Cargill, Inc. (Cargill Oxygen Absorbers)
- Sealed Air Corporation (Sealed Air Oxygen Scavenger Film)
- Mitsui Chemicals, Inc. (Mitsui Oxygen Scavenger)
- Tianjin Dagu Chemical Co., Ltd. (Dagu Oxygen Scavenger)
- SABIC (SABIC Oxygen Scavenger Additives)
- Air Products and Chemicals, Inc. (Air Products O2 Scavenger)
- Brenntag AG (Brenntag Oxygen Scavenger Solutions)
- ProAmpac (ProAmpac Oxygen Absorber Packets)
- Nippon Gohsei (Nippon Gohsei Oxygen Scavenger)
- Global Closing Solutions, Inc. (GCS Oxygen Scavenger)
- MagneGas Corporation (MagneGas Oxygen Scavenger)
- Synlogic, Inc. (Synlogic Oxygen Scavenger Technologies)
| Category | Details |
| Consumer Demand for Packaging Technology | - 65% of consumers now prefer products with packaging that reduces waste and extends shelf life. |
| Government Sustainability Programs | - Initiatives like the EU’s Farm to Fork strategy and U.S. Food Waste Reduction Alliance are pushing the food industry toward sustainable packaging. |
| Impact on Oxygen Scavenger Market | - Demand for oxygen scavengers in the food industry has risen by 15% as a direct result of government programs and consumer preferences for eco-friendly packaging. |
Opportunities in the Oxygen Scavenger Market
Emerging Markets and Technological Innovations
Rapid urbanization and evolving lifestyles in emerging markets, especially in the Asia-Pacific and Latin American regions, are providing massive growth prospects for the oxygen scavenger market. The consumption of packaged food is escalating massively in countries such as India, China, and Brazil, on account of burgeoning disposable incomes and the increasing population of these regions. The currently prevailing trend in the market is also one of the major factors propelling the need for high-performance packaging solutions such as oxygen scavengers. These packaging formats help extend the shelf life of products and maintain their integrity by preserving their desired properties for a longer period.
The effectiveness of oxygen scavengers is being significantly enhanced owing to the ongoing progress in the development of the formulations. Active packaging systems that integrate intelligent indicators with oxygen scavengers are now gaining massive popularity in the market. The development of these product formats provides genuine-value to consumers by not only improving the efficiency of the packaging but also enabling them to check the freshness of the product in real-time while using it. A recent report by the International Packaging Association revealed that the packaging market worldwide is expected to grow to 1 trillion USD by 2030, signifying the tremendous growth prospects for oxygen scavengers in multiple applications.
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Which Region Held the Highest Market Share in the Oxygen Scavenger Market?
In 2023, North America was the leading region for oxygen scavenging market, accounting for 42% of the total market share. This can be attributed to the region’s stringent regulations on food safety and the increasing preference for advanced packaging solutions. The U.S. Food and Drug Administration has put in place regulations to ensure the safety and quality of food products which has seen increased retail and food service outlets adopting oxygen scavengers in their food packaging applications.
Asia-Pacific is expected to grow significantly owing to the rapidly increasing rate of urbanization and growing middle-class and dual-income households. Countries such as China and India are investing billions of dollars in modernizing their food and beverage markets, hence creating an enabling environment for the adoption of advanced preservation technologies like oxygen radical scavengers.
Which Type Segment Dominated the Oxygen Scavenger Market in 2023?
The inorganic oxygen scavengers segment held a market share of about 62% in 2023. These scavengers, in most cases based on iron or other metal compounds, tend to be especially efficient at removing all residual oxygen in the relevant sealed environment and they are crucial in maintaining the products, intended for human consumption, fresh and odorless. Furthermore, the fact that oxygen scavengers of the inorganic type do not necessarily have to be stored under a specific temperature or humidity conditions makes them especially deployable in the context of a food packaging industry. Finally, these scavengers are also beneficial because they are relatively cheap to produce and can be used in more or less any type of packaging, including bottles, pouches, and trays.
Key Segments:
By Type
- Inorganic oxygen scavengers
- Organic oxygens scavengers
By End-Use Industry
- Food & Beverage
- Pharmaceutical
- Power
- Oil & gas
- Chemical
- Pulp & paper
- Others
Which End-Use Segment Dominated the Oxygen Scavenger Market in 2023?
The food and beverage segment has dominated the oxygen scavenger market, accounting for approximately 32% of the total market share in 2023. This dominance is driven by the rising demand for packaged food products and the need for effective preservation methods to maintain quality and safety.
As consumers become more health-conscious, there is a growing preference for fresh, high-quality products with extended shelf lives. Oxygen scavengers play a crucial role in achieving this goal by preventing oxidative spoilage and maintaining the sensory attributes of food. Additionally, the increasing trend of online grocery shopping has further accelerated the demand for oxygen scavengers in food packaging.
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Recent Developments
- In 2023, Mitsubishi Gas Chemical Company launched a new line of oxygen scavengers specifically designed for use in food packaging applications. This innovative product aims to enhance the shelf life of perishable goods while maintaining high safety standards.
- In 2023, Sealed Air Corporation announced the expansion of its product portfolio to include advanced oxygen scavenging films. This strategic move underscores the company’s commitment to providing sustainable packaging solutions that meet the evolving needs of the food and beverage industry.
Conclusion
The oxygen scavenger market is poised for robust growth, driven by the increasing demand for effective preservation solutions in the food and beverage industry and a rising focus on sustainability. Companies that prioritize product innovation, technological advancements, and expansion into emerging markets are well-positioned to capitalize on the significant opportunities within this sector.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Oxygen Scavenger Market Segmentation, by Type
8. Oxygen Scavenger Market Segmentation, by End-Use Industry
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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