San Francisco, 11 September
2018: According to a report by Grand View Research, Inc., global oxygen
scavengers market is projected to value USD 2.67 billion by
2025. Growing need for fresh, healthy, and high-quality packaged food products
is anticipated to fuel demand for oxygen scavengers. They are likely to offer
oxygen absorption properties to retain quality of consumable food items such as
vegetables, dairy products, fruits, and bakery products.
High demand for fresh and quality
packed food among consumers is expected to fuel growth of market in the coming
years. Growing concerns regarding wastage of food owing to spoilage is likely
to boost market growth. Increasing adoption of ready-to-eat food items owing to
hectic schedules and long shelf-life can influence growth of market. Growing
need for active packaging techniques to protect food from microorganisms and
retain nutritional value is anticipated to boost growth of market during the
forecast period (2014 to 2025).
Several health hazards related
to use of oxygen scavengers can hinder market growth. More exposure or
consumption of raw materials such as carbon, iron oxide, and hydrazine can be
harmful to human health. In addition, it can also lead to irritation in eyes, headache,
dizziness, breathing problems, and high blood pressure in humans. Hence, extra
focus on instructions and safety measures can be taken into consideration while
packaging of oxygen scavengers.
Access
Research Report of Oxygen
Scavengers Market@ www.grandviewresearch.com/industry-analysis/oxygen-scavengers-market
The oxygen scavengers market
can be segregated on the basis of product type, end-use, region. Based on
product type, the market can be bifurcated into metallic and non-metallic. In
2016, metallic segment dominated the market and accounted for maximum market
share. Growing use of metallic oxygen scavengers to prevent mold formation,
spoilage, and color change in food items can boost demand. In addition, easy
handling and quick reaction of these agents can fuel growth of segment.
On the contrary, the
non-metallic segment is expected to grow at a fast pace during the forecast
period. It had generated revenue close to USD 632.0 million in 2016. Increasing
use of non-metallic oxygen scavengers to pack products where metal detection
can form taints is likely to spur its demand in the forthcoming years.
Based on end-use, the market
can be classified into pharmaceuticals, chemicals, oil & gas, food &
beverage, and others. In 2016, food & beverage segment dominated the market
and accounted for maximum market share. Increasing use of oxygen scavengers in
food products to extend their shelf-life and prevent rancidity as well as loss
of nutritional value can fuel market growth in the coming years.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/catalysts-and-enzymes
Growing adoption of oxygen
scavengers in boiler water treatment to remove dissolved oxygen can influence
its demand in chemical industry. In addition, growing need for effective
corrosion inhibitors in oil and gas companies can spur its demand in the
forthcoming years. Moreover, oxygen scavengers can also be used in other
industries such as electronics, sugar, power, and pulp & paper.
Regional segmentation includes
Europe, North America, Asia Pacific, South & Central America, and Middle
East & Africa. In 2016, North America dominated the market and U.S.
accounted for revenue share equivalent to USD 580.4 million in the same year.
Growing need for hermetically sealed foods coupled with stringent food safety
regulations outlined by the Environmental Protection Agency (EPA) can boost
growth of market. In addition, increasing adoption of oxygen scavengers in
food, chemical, and beverage sectors can spur market growth during the forecast
period.
In Asia Pacific, the market is
anticipated to grow well in the coming years owing to high demand for safe and
healthy food producing least amount of wastage. In addition, shifting focus of
manufacturers towards emerging countries such as India and China coupled with
expansion of end-use industries can encourage demand for oxygen scavengers in
this region.
In Europe, Germany and France
are expected to contribute to regional demand for oxygen scavengers in the
forthcoming years. Extensive research and development conducted to enhance packaging
technologies can augur regional market growth in the coming years.
Some of the leading companies
offering oxygen scavengers are BASF SE; Arkema Group; Baker Hughes; Innospec
Inc.; and Accepta Limited. Most companies are expected to invest in R&D
activities to develop innovative products that are less toxic. Developments
combined with competitive pricing can support growth of market during the
forecast period.
Access
Press Release of Oxygen Scavengers Market@ www.grandviewresearch.com/press-release/global-oxygen-scavengers-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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