Oct 28, 2022   SOURCE: BusinessWire

Global Oxygen Scavengers Market Report 2022 to 2031: Rising Demand for Convenience Foods and Active Food Packaging is Driving Growth - ResearchAndMarkets.com

The "Oxygen Scavengers Market - A Global and Regional Analysis: Focus on Type, Form, End User, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.

The global oxygen scavengers market is projected to reach $4,318.4 million by 2031 from $2,324.4 million in 2021, growing at a CAGR of 6.4% during the forecast period 2022-2031.

The function of oxygen scavengers is to limit the amount of oxygen available for deteriorative reactions, which may lead to reduced functionality of many types of products, including food and beverages, pharmaceuticals, chemicals, and others. Oxygen scavengers are expected to be more valuable as packaging becomes technologically advanced.

Oxygen scavengers are critical elements for the rapidly expanding food and beverage sector. Growth in the oxygen scavengers market is being driven by the increasing usage of oxygen scavengers in active and intelligent packaging and technological developments related to the use of oxygen scavengers.

Market Lifecycle Stage

The oxygen scavengers market is still in the growing phase for food and beverages and pharmaceutical applications owing to ongoing development in these industries; however, for applications such as oil and gas and chemicals, the market is comparatively in its mature stage.

The market is expected to benefit from the growing focus on stringent government rules and regulations by regulatory organizations in various regions and countries, as oxygen scavengers are widely utilized for extending the shelf life of food and pharma products, thereby improving the quality of packaged products. Increasing awareness amongst the consumers related to the food quality is expected to create potential market demand for oxygen scavengers.

Demand - Drivers and Limitations

Following are the demand drivers for the oxygen scavengers market:

  • Rising Awareness amongst the Consumers related to Food Quality
  • Rising demand for Convenience Foods and Active Food Packaging
  • Increasing developments in Pharmaceutical Industry

The market is expected to face some limitations due to the following challenges:

  • Hazards Associated with Chemicals in Oxygen Scavengers to Human Health and Potential Threat to Efficiency of Steam Generation Process
  • Inconvenience Associated with Oxygen Scavenger Sachets in Food Packaging

Market Segmentation

Segmentation 1: by End User

  • Pharmaceuticals
  • Food and Beverages
  • Chemicals
  • Oil and Gas
  • Others

Food and beverages are anticipated to be one of the prominent end-use markets for oxygen scavengers during the forecast period 2022-2031.

Segmentation 2: by Form

  • Canisters
  • Sachets
  • Stickers
  • Resin
  • Liquid
  • Others

Based on form, the oxygen scavengers market is estimated to be led by sachets during the forecast period 2022-2031.

Segmentation 3: by Type

  • Organic Oxygen Scavengers
  • Inorganic Oxygen Scavengers

Based on type, the oxygen scavengers market is estimated to be led by inorganic oxygen scavengers during the forecast period 2022-2031.

Segmentation 4: by Region

  • North America - U.S., Canada, and Mexico
  • Europe - Germany, France, Italy, Spain, and Rest-of-Europe (RoE)
  • China
  • U.K.
  • Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific
  • Rest-of-the-World - South America and the Middle East and Africa

China is expected to lead the oxygen scavengers market throughout the forecast period, owing to the presence of a significant number of food, pharmaceutical, and chemical manufacturers in the region.

Some of the prominent established names in this market are:

Company Type 1 (by Form): Canisters

  • Mitsubishi Gas Chemical Company
  • Multisorb Technologies

Company Type 2 (by Form): Sachets

  • Mitsubishi Gas Chemical Company
  • Clariant AG
  • Multisorb Technologies
  • TPG CO., LTD.
  • Desiccare, Inc.

Company Type 3 (by Form): Stickers

  • Mitsubishi Gas Chemical Company
  • Multisorb Technologies

Company Type 4 (by Form): Resin

  • Clariant AG
  • Avient Corporation
  • Indorama Ventures
  • Sherwin-Williams Company

Company Type 5 (by Form): Liquid and Others

  • BASF SE
  • Arkema
  • SUEZ Group
  • Accepta Water Treatment
  • Schlumberger Limited
  • Eastman Chemical Company

For more information about this report visit https://www.researchandmarkets.com/r/57ii1o