The global oxygen scavengers market size is expected to be worth USD 2.67
billion by 2025, according to a new report by Grand View Research, Inc.
Increasing demand for fresh, healthy, and quality packaged food is likely to
propel market growth. The oxygen absorption properties offered by scavengers
help in retaining the quality of various consumable products.
The demand for oxygen scavengers in food and beverage industry
is witnessing a rise as they provide protection from various microorganisms,
spoilage, color & nutrient loss, and rancidity of food. Food products, such
as vegetables, fruits, dairy products, and processed foods, are perishable in
nature and require protection from atmospheric oxygen. Other food products such
as nuts, bakery items, and several beverages also require protection to extend
their shelf life and reduce food wastage.
Additionally, augmenting demand from chemical and
pharmaceutical industries is anticipated to accelerate the market growth.
Rising research & development activities and various government
regulations are likely to trigger the production, thereby driving the market
demand. Due to the expanding uses of oxygen scavengers, a large number of
manufacturers are inclined toward the market for the development of less toxic
scavengers in an attempt to stay competitive.
Metallic oxygen scavengers accounted for 63% of the
global market in 2016. The demand can be attributed to the widespread use, fast
reaction, better quality, and cost-effectiveness of these scavengers.
Non-metallic scavengers are likely to be used where metal detection poses a
problem. The scavengers are used for dietary products that require the
avoidance of contact with iron. The technological advancements in the market to
develop advanced packaging solutions are likely to fuel the market demand over
the forecast period.
North America is the leading market for oxygen scavengers
owing to the growing concerns among the consumers regarding the safety and
wastage of food. Extensive research & development carried out by leading
manufacturers to develop packaging techniques to offer protection from outside
oxygen in countries such as the U.S. and Canada is anticipated to propel market
growth. Countries such as Germany, France, China, India, and Japan are also
rapidly developing markets for oxygen scavengers.
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http://www.grandviewresearch.com/industry-analysis/oxygen-scavengers-market
http://www.grandviewresearch.com/industry-analysis/oxygen-scavengers-market
Further
key findings from the report suggest:
· The market is likely to register a CAGR of
4.9% from 2017 to 2025 on account of increasing awareness as well as health and
safety concerns among the consumers. In terms of revenue, food and beverage
segment is expected to denote the highest CAGR from 2017 to 2025 owing to
expanding applications in the sector for oxygen scavengers in developed as well
as emerging countries.
· North America was valued at USD 580.4
million in 2016 and is expected to witness significant development on account
of rising demand for fresh food that is healthy and can restore its nutrient
value for a longer period of time
· Key market players include BASF SE; Baker
Hughes; Innospec Inc; Arkema Group; Accepta Ltd.; Clariant International Ltd.;
Eastman Chemical Company; Sealed Air Corporation; PolyOne Corporation; Kemira
OYJ; Mitsubishi Chemical Corporation; and Plastichem (PTY) LTD. The companies
mainly focus on extensive innovation and increasing their production capacities
to meet the global demand.
Grand View Research has segmented the oxygen scavengers
market on the basis of type, end use, and region:
Type Outlook (Revenue, USD Million; 2014 -2025)
·
Metallic
·
Non-metallic
End-use Outlook (Revenue, USD Million; 2014 - 2025)
·
Food & Beverage
·
Pharmaceuticals
·
Chemicals
·
Oil & Gas
·
Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
South & Central America
·
The Middle East and Africa
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.
For More Information: www.grandviewresearch.com
