Global Oxygen Scavenger Market Size to hit $3bn by 2025
Published Date: September 12, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
Oxygen Scavenger Market size is expected to cross USD 3 billion by 2025, according to research conducted by Global Market Insights.
The oxygen scavenger market will be driven by rising demand from food & beverage packaging industry. The presence of oxygen can lead to detrimental effects on various foods & beverage items. It can cause alteration in flavor and aroma, loss of nutrition, changes in texture, lipid oxidation, and microbial spoilage. Hence, oxygen scavengers play a pivotal role in increasing the lifespan of these products while ensuring safety. Due to busy lifestyles and increasing disposable income levels, people are opting for packaged foods rather than conventional cooked meals. This will generate more demand for the product in upcoming years. Moreover, favorable trends associated with food & beverage packaging industry are likely to augment the market growth during the forecast time span.
In pharmaceutical industry, oxidative degradation is one of the alarming issues faced by many medicine manufacturers. The product stops the oxygen permeation through packaging and maintains efficacy of pharmaceutical products for a longer period of time. In addition, it aids in cost optimization during drug manufacturing and distribution. Increasing R&D activities supported by huge financial investments will accelerate the pace of pharmaceutical packaging sector in near future. These aforementioned trends are likely to boost the market growth between the forecast period.
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However, market growth may be hindered by low level of consumer acceptance for oxygen scavengers available in sachet form. Additionally, oxygen scavenger used in boiler feed water treatment such as hydrazine hydrate is hazardous to human health. These factors may negatively influence the product demand in upcoming years.
Oxygen scavenger industry is classified on the basis of composition, form and end-user. Inorganic segment will capture significant volume share as they are more popular than organic products. OS films & PET bottles will grow at a CAGR over 4.5% during the forecast time span. Liquid form will clutch a fair share in the market, accounting for a little less than USD 500 million by 2025. They are extensively used for boiler feed water treatment processes in various end-user industries and are more cost effective than oxygen scavenger powders.
Browse key industry insights spread across 180 pages with 231 market data tables & 27 figures & charts from the report, “Oxygen Scavenger Market Size By Composition (Organic, Inorganic), By Form (Sachets/Canisters/Bottle Caps & Labels, OS Films & PET Bottles, Liquid, Powder), By End-user (Food & Beverage, Pharmaceutical, Oil & Gas, Power Generation), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Food & beverage end-use sector for the market will grow with a CAGR over 4.5% as the product is used for active packaging of different food and drinks, which helps in increasing their shelf life and preserving nutritional value.
Asia Pacific will be one of the key regions in the oxygen scavenger market. The regional market exhibits promising trends in future due to presence of a large number of end-user industries. Additionally, increasing demand from food & beverage and pharmaceutical packaging sectors will support the market growth. Europe will grow at a CAGR more than 3.5% by 2025 due to favorable trends associated with pharmaceutical packaging industry.
Ecolab Inc., SUEZ Water Technologies & Solutions, Clariant AG, Angus Chemical Company, Mitsubishi Gas Chemical Company, Veolia Water Technologies, Desiccare, Inc. and Arkema are some of the major manufacturers in the market.
The oxygen scavenger market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2014 to 2025, for the following segments:
- Sachets, canisters, bottle caps & labels
- OS films & PET bottles
- Liquid form
- Powder form
- Food & beverage
- Oil & gas
- Power generation
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia