Market Size –
The oxygen scavenger market size has grown strongly in recent years. It will grow from $2.42 billion in 2023 to $2.62 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to food preservation, pharmaceutical industry, beverage industry, chemical industry, environmental regulations.
The oxygen scavenger market size is expected to see strong growth in the next few years. It will grow to $3.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to aerospace and defense, e-commerce, oil and gas exploration, industrial automation, electronics industry, medical devices and diagnostics. Major trends in the forecast period include sustainability and green packaging, water treatment, industrial automation, advanced packaging materials, corrosion prevention.
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Scope Of Oxygen Scavenger Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Oxygen Scavenger Market Overview
Market Drivers –
The increase in demand from the food and beverage industry is expected to propel the growth of the oxygen scavengers market going forward. The food industry involves the production, processing, preparation, conversion, preservation, and packaging of foodstuffs. Oxygen scavengers are added to the foods and beverages to reduce or completely remove dissolved oxygen to extend shelf life and maintain the original food quality. For instance, in September 2022, according to a report published by Statistics Sweden, a Sweden-based government agency, the revenue generated from food and beverage sales reached $29.85 billion (SEK 334 billion), marking a 2.9 percent growth. This growth can be attributed to a 2.5 percent rise in sales volume and a 0.4 percent uptick in the prices of food and beverages. Therefore, the increased demand from the food and beverage industry is driving the oxygen scavenger market growth.
The oxygen scavenger market covered in this report is segmented –
1) By Type: Metallic, Non-Metallic
2) By Composition: Organic, Inorganic
3) By Form: Sachets, Canisters, Bottle Caps And Labels, OS Films And Pet Bottles, Liquid, Powder
4) By End-User Industry: Food And Beverage, Pharmaceutical, Power, Oil And gas, Chemical, Pulp And Paper
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Regional Insights –
North America was the largest region in the oxygen scavenger market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oxygen scavenger market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the oxygen scavenger market include Mitsubishi Gas Chemical Company Inc., BASF SE, Clariant AG, Ecolab Inc., Accepta Ltd., Arkema Group, Eastman Chemical Company, Henkel AG & Co. KGaA, Aditya Birla Chemicals, Esseco Ltd., Kuraray Co. Ltd., DOW Chemical Company, Conventya Inc., Chemco Industries Inc., Kemira Oyj, Hydrite Chemical Co., Kurita Water Industries Ltd., Baker Hughes, Innospec Inc., GE Water & Process Technologies, Veolia Water Technologies, Nalco Water, ChemTreat Inc., Italmatch Chemicals S.p.A., BWA Water Additives US LLC, Carus Corporation, SNF Group, Buckman Laboratories International Inc., Solvay SA, Lubrizol Corporation, Huntsman Corporation, AkzoNobel N.V., Evonik Industries AG, Calgon Carbon Corporation, Sumitomo Chemical Co. Ltd., Tosoh Corporation, Weifang Yaxing Chemical Co.Ltd., Chemworld Overseas Private Limited
Table of Contents
1. Executive Summary
2. Oxygen Scavenger Market Report Structure
3. Oxygen Scavenger Market Trends And Strategies
4. Oxygen Scavenger Market – Macro Economic Scenario
5. Oxygen Scavenger Market Size And Growth
…..
27. Oxygen Scavenger Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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