January 07, 2020
According to the recent study titled ‘Oxygen Scavengers 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 (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Indonesia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global oxygen scavengers market is expected to grow with a CAGR of 4.8% to generate a market valuation of US $3 billion by the year 2025.
Shifting consumer preference towards ready-to-eat meals and packaged food products due to improved convenience and lack of time is encouraging the food & beverage industry manufacturers to adopt oxygen scavengers. These scavengers protect food from moisture & oxygen and microbial contamination, hence increasing the shelf-life while preserving the taste and odor of food items.
Furthermore, oxygen scavengers optimize the efficiency of boilers as they prevent boiler components from damage and avoid unnecessary breakdowns. Rapid industrialization and expansion of manufacturing sector will stimulate the boiler industry. This factor coupled with the rising need to lower the maintenance & repair costs are propelling the growth of oxygen scavengers market.
However, concerns regarding accidental ingestion of these materials, in consort with threat of oxygen scavenging sachet rupture are the restraining factors for the market expansion. In addition, harmful effect of some oxygen absorbers used in boiler feed treatment will also hamper the popularity of oxygen scavengers.
As per the report, oxygen scavengers market is classified into inorganic and organic based on the composition. The later segment is presumed to hold 35% volume share by the year 2025, owing to various innovations carried out in the field.
Speaking of form type, oxygen scavengers market from canister/sachet/bottle caps and labels segment is projected to grow with a CAGR of 5% during 2019-2025. The segmental growth is attributed to superior oxygen reducing ability and easy usability of these products.
Speaking of the application spectrum, pharmaceuticals and food & beverage segments are expected to register substantial growth in the upcoming years due to rising trend of active packaging. On the other hand, oxygen scavengers market from power generation segment will expand with 3.5% CAGR through the year 2025, claims the report.
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Considering the regional outlook, North America oxygen scavengers market is estimated to account for around 25% market share by the year 2025, pertaining to the growth of pharmaceutical sector across the region. The product is extensively used for packaging of capsules and tablets. Inflowing government investments in pharmaceuticals and numerous R&D initiatives will augment the regional market share.
The prominent contenders of oxygen scavengers market are Solenis LLC, Sealer Air Corporation, Arkema, SUEZ Water Technologies & Solutions, Henkel AG & Co. KGaA, and Mitsubishi Gas Chemical Company, Inc. among others.
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