Oxygen Scavenger Masterbatch Market Size

Oxygen Scavenger Masterbatch Market Size

Oxygen Scavenger Masterbatch Market for Food Packaging size estimated at over USD 17 million in 2018 and will grow at a CAGR of more than 7.5% from 2019 to 2025.
 

Ongoing technological innovation and trends in the food & beverage packaging industry is likely to drive the global oxygen scavenger masterbatch market demand for food packaging in the forecast period. Oxygen scavenger masterbatch, also known as oxygen absorber masterbatch or additives, are used in active packaging applications in order to absorb oxygen from the packaging environment of food products and to extend the shelf life of the item. These products help in maintaining freshness, taste, color, etc. in a range of packaged foods including processed meat, pet treats, packaged coffee powder, dried meats and ready to eat meals. Increasing consumer demand for portable, easy to open, resealable and tamper-proof food packaging is likely to increase oxygen scavenger masterbatch demand in the coming years. Major countries including, India, China, the U.S., etc. have experienced substantial growth in their respective food & beverage industry in the past few years driven by rapid urbanization and increasing disposable income of consumers. This will further propel product demand in these countries in the forecast period.
 

Though the industry is growing significantly, the challenges associated with the high cost of the product is likely to hamper its growth in the forecast time period. The key reason behind this high cost are complexities involved in the product manufacturing and processes involved in incorporating oxygen scavenger masterbatch into oxygen scavenger films.