Oxygen Scavengers Market Forecasts to 2028 – Global Analysis By Type (Organic, Inorganic), Product Type (Metallic , Non-Metallic ), End User (Food & Beverage, Pharmaceutical, Power Generation, Oil & Gas, Chemical) and By Geography
According to Stratistics MRC, the Global Oxygen Scavengers Market is accounted for $1.93 billion in 2021 and is expected to reach $3.24 billion by 2028 growing at a CAGR of 7.7% during the forecast period. Oxygen scavengers, also known as oxygen absorbers, are primarily used to reduce or remove oxygen from various types of packages and feed water of boiler systems. It prevents deteriorative reactions caused by the availability of oxygen, thereby improving the operational capability of various products & processes. Oxygen scavengers specifically employed for packaging applications fall under the category of active packaging. This type of packaging is often used in the food & beverage and pharmaceutical sectors, and it responds to changes occurring in the surrounding environment. The product helps to minimize the negative effects of oxygen while increasing the shelf life of packaged products. In boilers, it is used in conjunction with deaerators to remove residual oxygen content and inhibit corrosion. Additionally, they are used in oil & gas production, preservation of artworks & solderability of electronic parts, etc.
Increasing demand for fresh and quality packaged food
Oxygen scavengers absorb fascinated oxygen present inside sealed packaging. Generally, during packaging, these scavengers are used to prevent spoilage, mold growth, color change, rancidity, loss of nutritional values, and loss of overall product quality. These scavengers maintain the original food quality and extend the shelf life of the product. Oxygen scavengers prevent the growth of aerobic pathogens and food spoilage organisms, degradation and rancidity of polyunsaturated fats and oils, oxidation of vitamins A, C, and E, and delay non-enzymatic browning of fruits and some vegetables. The use of oxygen scavengers makes products healthier. These factors are driving the growth of the market for oxygen scavengers globally.
Non-volatile nature of oxygen scavengers
Oxygen scavengers are highly effective in inhibiting corrosion of costly boiler equipment in various industries. Sulfites and bisulfites are the most widely used oxygen scavengers in water treatment applications. However, these scavengers are non-volatile and do not leave the boiler along with the steam. These oxygen scavengers add dissolved solids and, thus, affect the conductivity of the water. This impurity must be removed from the system through blowdown to maintain proper boiler water chemistry. This is one of the major factors restraining the growth of the oxygen scavenger market.
Growing demand for packaged food
Oxygen scavengers are widely used in food & beverage and pharmaceutical packaging to reduce oxygen in the package. Oxygen scavengers maintain freshly prepared food's flavor, color, fragrance, and nutrition and extend products' shelf life. Consumers are increasingly opting for more packaged food owing to changing lifestyles, rising disposable incomes, and overall convenience associated with packaged products. Factors such as an increase in the working population, married couples with double income, professionals staying away from home, work from home initiatives, and a rise in nuclear families are boosting the demand for packaged food, which in turn is fuelling the demand for oxygen scavengers.
Requirement of technical expertise for handling certain oxygen scavengers
Oxygen scavengers such as hydrazine and iron oxides are harmful to human health. For example, human contact with hydrazine can irritate the eyes, nose, and throat and cause dizziness, headache, nausea, pulmonary edema, seizures, and coma. It has been categorized as a suspected carcinogen by the US Food and Drug Administration. Human exposure to iron oxide can cause fever, chest tightness, cough, and pneumoconiosis. The health issues related to oxygen scavengers have led to the development and implementation of various action plans against handling harmful chemicals.
The power generation segment is expected to have the highest CAGR during the forecast period
The power generation segment is growing at the highest CAGR in the market. Oxygen scavengers are used for corrosion control in thermal power plants. The rising need for power generation all over the world is likely to propel market growth in the future.
The food & beverage segment is expected to be the largest during the forecast period
The food & beverage segment is expected to be the largest share due to the increased demand for better quality packaged food items, growth in demand for convenient foods, reduction in food wastage, and increasing urbanization in the emerging economies. These chemicals keep the processed foods fresh for a longer time and increase the shelf life of the products. In addition, the rise in income levels and the growth of the middle-class population are also driving demand for oxygen scavengers in the food & beverage industry.
Region with highest share:
The Asia Pacific is projected to hold the largest share in the market. High consumer preference for healthy and safe food that involves a minimal amount of wastage in light of sustainability issues is expected to fuel market growth in the Asia Pacific. The shifting of manufacturing facilities to emerging countries, such as China and India, and the expansion of end-use industries are the factors anticipated to augment demand for oxygen scavengers.
Region with highest CAGR:
North America is projected to have the highest CAGR due to the growing demand for quality packaged food. The growth can be attributed to extensive research & development undertaken to develop advanced packaging techniques to restore the wholesomeness of food items.
Key players in the market:
Some of the key players profiled in the Oxygen Scavengers Market include Accepta AS, Angus Chemical Company, Arkema S.A., Baker Hughes Incorporated, BASF SE, Clariant International AG., Eastman Chemical Company, Ecolab Inc., Guardian Chemicals Inc., Henkel AG & Co. KGaA, Innospec Inc., Kemira OYJ, Mitsubishi Gas Chemical Company, Sealed Air Corporation, and Solenis LLC.
In February 2020: Clariant, a specialty chemical firm, has created a new recipe for its MEVOPUR range of medical-grade packaging materials and services to prolong therapeutic goods shelf life. The latest MEVOPUR Safe formula introduces a modern oxygen-scavenging additive to reduce the oxygen oxidation in medications and nutraceuticals contained in bottles of polyethylene terephthalate (PET).
In October 2019: In its new product, the brand Cesa® ProTect, Clariant AG, a revered specialty chemicals manufacturer, has launched and patented an oxygen scavenger additive. The goal audience for the innovative drug is packaging made of monolayer PET. Also, the product will likely find a spectrum of polyester packing applications over the coming years.
In March 2017: BASF Group launched its latest Asia Pacific Innovation Campus, situated in Mumbai, India. The project would entail a combined estimated expenditure of up to USD 58.38 billion from the BASF Party, which represents South Asia\'s highest investment in research, which growth. The new campus for innovation will expand existing R&D activities in India to include global and regional analysis on a broad range of specialty chemicals.
• Organic Oxygens Scavengers
• Inorganic Oxygen Scavengers
• Sachets/Canisters/Bottle Caps & Labels
• OS Films & Polyethylene Terephthalate (PET) Bottles
• Plastic Films
Product Types Covered:
• Metallic Oxygen Scavengers
• Non-Metallic Oxygen Scavengers
End Users Covered:
• Food & Beverage
• Power Generation
• Oil & Gas
• Pulp & Paper
• Medical & Healthcare
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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