Global Oxygen Scavenger Market Forecasted to Grow $3.1 Billion by 2028: BCC Research

Projected Compound Annual Growth Rate (CAGR) of 5.1% from 2023 through 2028 Indicates Steady Expansion for Global Oxygen Scavenger Market.

BOSTON, March 29, 2024 /PRNewswire/ -- Oxygen scavengers preserve food and beverage products in packaging, prevent corrosion in boilers, and help reduce the staggering $400 billion annual global food waste. Government initiatives for sustainable packaging are boosting demand, making the oxygen scavenger market ripe for strategic advancements and investments.

"According to the latest BCC Research study, the demand for Global Oxygen Scavenger Market is estimated to increase from $2.4 billion in 2023 to reach $3.1 billion by 2028, at a compound annual growth rate (CAGR) of 5.1% from 2023 through 2028."

The report offers comprehensive insights into the oxygen scavenger industry, encompassing various types of compositions, end-use industries, and forms utilized within this sector. Detailed analysis will be provided on the diverse compositions employed in oxygen scavengers, shedding light on both organic and inorganic variants. Furthermore, the report will delve into the extensive array of end-use industries that rely on oxygen scavengers, ranging from food and beverage to pharmaceuticals, power generation, oil and gas, pulp and paper, and chemical sectors. Through meticulous examination of manufacturers' total revenues, estimated values in constant U.S. dollars will be presented, offering projections unadjusted for inflation. This report is poised to serve as a valuable resource, furnishing stakeholders with in-depth insights and strategic guidance about the oxygen scavenger industry and its users.

Startup companies are at the forefront of innovation in sustainable food packaging, intensifying their research and development efforts in processed food packaging. As the consumption of processed foods continues to rise, there is a growing demand for oxygen scavenger packaging to prolong shelf life and maintain product freshness. Simultaneously, within the pharmaceutical industry, manufacturers are increasingly integrating oxygen scavenger technology to extend the shelf life of drugs, diagnostic kits, surgical equipment, health supplements, and medical devices. This adoption reflects the industry's recognition of the importance of preserving product integrity and efficacy. Amidst the global oxygen scavenger market, numerous smaller and local companies play pivotal roles, often focusing on niche markets or offering specialized products. For example, Chemfax, a Canadian-based company, specializes in developing oxygen scavengers tailored for hot and cold-water circuits, demonstrating the diversity and specialization within the market.

Explore the full report on the burgeoning Global Oxygen Scavenger Market for comprehensive insights and forecasts – click here to Learn More. 

Key Drivers of the Global Oxygen Scavenger Market

Rising Demand from Healthcare Industry: The healthcare industry serves as a significant driver for the adoption of oxygen scavengers, essential for upholding the quality and safety of medical devices, pharmaceuticals, and diagnostic kits. These scavengers play a crucial role in eliminating dissolved oxygen, thereby averting oxidation and degradation of sensitive healthcare products. With the global escalation in demand for healthcare services, the necessity for dependable oxygen scavenging solutions experiences a parallel surge.

Initiatives by Regulatory Bodies to Improve Food Safety Across Countries: Regulatory bodies worldwide are actively engaged in elevating food safety standards, prompting the utilization of oxygen scavengers within the food and beverage sector. These scavengers are instrumental in prolonging the shelf life of packaged goods by minimizing oxygen exposure, thus preserving product freshness, averting spoilage, and bolstering consumer safety. As regulatory endeavors intensify, the adoption of oxygen scavengers becomes imperative for upholding food quality standards and curbing food wastage.

Request a Sample Copy of the Global Oxygen Scavenger Market Report.

Report Synopsis 

Global Oxygen Scavenger Market Segmentation Analysis

Type Segmentation

The segmentation by type divides oxygen scavengers into metallic and non-metallic categories. Metallic oxygen scavengers, including iron, zinc, and sulfite-based compounds, are widely utilized in various industries such as food, pharmaceuticals, and water treatment. These compounds effectively remove oxygen from environments, preventing oxidation and preserving product quality. On the other hand, non-metallic oxygen scavengers like hydrazine and DEHA offer alternative solutions, particularly in applications such as boiler water treatment and polymer production, where metal-based scavengers may not be suitable.

Composition Segmentation

Segmentation based on composition distinguishes between organic and inorganic oxygen scavengers. Organic scavengers, derived from natural or synthetic compounds, provide versatility and efficacy in preserving product quality. They find extensive use in food packaging and pharmaceuticals, where maintaining freshness and extending shelf life are paramount. Inorganic scavengers, composed of minerals or chemical compounds, offer robust oxygen removal capabilities, ensuring the prevention of degradation and maintaining product integrity in various industrial applications.

Form Segmentation

The form segmentation categorizes oxygen scavengers into powder, resin, and liquid forms, each tailored to specific application needs. Powdered scavengers, typically enclosed in sachets, are convenient for placement within product packaging to absorb oxygen and preserve product freshness. Resin-based scavengers, integrated into plastic materials during manufacturing, provide long-lasting oxygen-absorbing properties, ideal for extended product storage. Liquid scavengers, added directly to liquids or used in water treatment processes, effectively prevent corrosion and maintain water quality in diverse industrial settings.

End-Use Segmentation

End-use segmentation highlights the diverse applications of oxygen scavengers across various industries. In the food and beverage sector, these scavengers play a critical role in extending shelf life and preserving product freshness. Similarly, in pharmaceuticals, they protect sensitive drugs and medical devices from oxygen-induced degradation, ensuring product efficacy and safety. In power plants, oxygen scavengers prevent corrosion in boilers and steam systems, enhancing equipment longevity and operational efficiency. Moreover, in industries such as chemicals, oil and gas, and paper and pulp, oxygen scavengers are indispensable for maintaining product quality, preventing corrosion, and preserving infrastructure integrity.

This report on the Global Oxygen Scavenger Market provides comprehensive insights and analysis, addressing the following key questions:

1.  What is the projected market size and growth rate of the market?

The global oxygen scavenger market is projected to grow from $2.3 billion in 2022 to $3.1 billion in 2028 at a compound annual growth rate (CAGR) of 5.1% during the forecast period.

2.  What are the key factors driving the growth of the market?

The key factors driving the growth of the oxygen scavenger market include:

• Rising demand from healthcare industry.
• Initiatives by regulatory bodies to improve food safety across countries.

3.  What segments are covered in the market?

The oxygen scavenger market is segmented on the basis of type, end-use, form, composition, and region. By type, it is segmented into metallic oxygen scavengers and non-metallic oxygen scavengers; by composition the market is segmented into organic and inorganic; by form, the market is segmented into powder, liquid, and resin; by end-use, the market is segmented into food & beverage, pharmaceutical, power, oil & gas, pulp & paper, chemical, and others.

4.  By end-use, which segment will dominate the market by the end of 2028?

The food and beverage segment will dominate by the end of 2028. Processed food manufacturers are regularly buying oxygen scavenger products for their food packaging. Oxygen scavengers can be incorporated into containers, sachets, stickers, labels, and packaging film.

5.  Which region has the highest market share in the market?

Europe holds the highest share of the market. European end-consumers mostly consume packaged foods in their daily life. Also, these consumers are continuously demanding processed food products and ready-to-eat products. The European Union designed several strict norms for food packaging. These rules are designed based on plastic materials, recycled plastic materials, regenerated cellulose film, and active and intelligent materials. These are the driving factors of the European oxygen scavenger market.

Some of the Key Market Players Are:

• ACCEPTA WATER TREATMENT
• ANGUS CHEMICAL CO.
• ARKEMA
• AVIENT CORP.
• BASF SE
• CHARDON LAB
• CLARIANT
• DESICCARE INC.
• EASTMAN CHEMICAL CO.
• ECOLAB
• HENKEL AG & CO. KGAA
• MITSUBISHI GAS CHEMICAL CO. INC.
• MULTISORB
• THE SHERWIN-WILLIAMS CO.
• THERMAX LTD.

Browse Related Reports:

Active, Controlled, and Intelligent Packaging for Foods and Beverages: This report offers a comprehensive analysis of the global active, controlled, and intelligent packaging market for food and beverage, covering various segments based on type and application. With the base year set in 2022 and forecasts extending to 2028, the study provides insights into revenue trends in U.S dollars, millions. Active packaging includes oxygen scavengers, moisture controllers, ethylene absorbers, edible films, antimicrobial agents, carbon dioxide scavengers/emitters, and temperature control packaging. Controlled packaging encompasses modified atmosphere packaging, controlled atmosphere packaging, retort packaging, sous-vide packaging, and biodegradable polymers/biopolymers. Intelligent packaging consists of radio frequency identification, time/temperature indicators, freshness indicators, electronic article surveillance, electronic shelf label systems, and hybrid and interactive packaging. Applications span across food and beverages, presenting a holistic view of the market dynamics at both global and regional levels.

Directly Purchase a copy of the report with BCC Research.

For further information or to make a purchase, please get in touch with [email protected].  

About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions, free of noise and hype.

Contact Us

Corporate HQ: BCC Research LLC, 49 Walnut Park, Building 2, Wellesley, MA 02481, USA

Email: [email protected],

Phone: +1 781-489-7301

For media inquiries, email [email protected] or visit our media page for access to our market research library.

Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. 

Logo - https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg

SOURCE BCC Research LLC