Global Oxygen Scavengers Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at CAGR of 5.0% during forecast period of 2020 to 2027.
Global Oxygen Scavengers Market
Global Oxygen Scavengers Market Drivers and Restrains:
Oxygen scavengers are added to enclose packaging to help to retain the fresh-roasted flavor of coffee and nuts, avoiding oxidation of oleoresins present in spices and seasoning foods, and increase the life of pharmaceutical drugs. There are several types of oxygen scavengers existing in the market to cover a large variety of applications.Artificial preservatives and additives are referred to prevent spoilage, mold growth, color change, rancidity, loss of nutritive values, and decreasing overall product quality in packaging.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
These scavengers keep the product naturally and aid, to reduce or remove the usage of artificial preservatives. The uses of oxygen scavengers to keep the product healthier is fuelling the oxygen scavengers market growth globally. Oxygen scavengers have various properties such as enhancing production efficiency, improving operational reliability and ensuring safety compliance along with environmental regulations, which will further boost the market growth during the forecast period. Oxygen scavenger has been gaining popularity in industry due to oxygen scavenger provides trouble-free steam production through boilers.
But, the Non-volatile nature of oxygen scavengers are restraining the market growth at the global level. Rising demand for packaged food and increasing disposable incomes in developing economies are expected to create beneficial opportunities in the market during the forecast period. Necessity of technical expertise for handling certain oxygen scavengers are the major challenge for the oxygen scavengers market in the near future.
Global Oxygen Scavengers Market Segmentation Analysis:
Based on the end user industry, the food and beverage segment has led the oxygen scavengers market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Food & beverage is one the key end-use industries in the oxygen scavengers market. Oxygen scavengers protect the food products opposite to oxygen degradation, therefore increasing the shelf life, food safety, customer acceptability. The oil & gas sector is anticipated to grow at a CAGR of 4% during the forecast period. The product is preferred for scavenging oxygen from hydro-testing, acid stimulation, drilling fluid, moving of wet gas fluid, seawater injection facilities, etc. The power segment is projected to capture a XX% revenue share in 2019. Oxygen scavengers are referred to in the power generation sector for corrosion control in thermal power plants. The rising demand for power generation all over the world is expected to boost the market growth in the forecast period.
Based on the composition, the inorganic oxygen scavengers segment accounted for US$ XX Mn market revenue in 2019 and is anticipated to continue this trend during the forecast period. The inorganic oxygen scavengers are used in large application base than the organic scavengers. Iron-based scavengers are majorly referred for packaging applications, whereas hydrazine hydrate and sodium sulfite & bisulfites are used for boiler feed water treatment processes. Organic oxygen scavengers segment is projected to grow at a CAGR of 5% in the forecast period. The organic segment has a limited range of applications, but show a positive outlook due to continuous research and development activities.
Global Oxygen Scavengers Market Regional Analysis:
Geographically, the Oxygen Scavengers market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. North America is the leading consumer of pharmaceutical products and packaged food. The presence a large industrial base, and high disposable income and standard of living of the people in the region are driving the oxygen scavengers market growth in North America. The European Federation of Pharmaceutical Industries and Associations (EFPIA) report state that, North America held a XX% market share in the global pharmaceutical market in 2018. Increasing applications related to the protection of drugs for a specified time period will accelerate the market demand in the future.
The market in Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period thanks to the rising standard of living and increased demand of packaged food from high population countries such as the china and India. Moreover, the rising investments from various international companies in research and development activities for the introduction of advanced type oxygen scavengers are expected to accelerate the market growth of this region in the near future. In China, the food and beverage industry plays a major role in the national economy. The food and beverage industry is expected to show continuous growth, owing to the growing number of the middle-class population along with more purchasing power, as well as rising attention on food quality and food safety.
The objective of the report is to present a comprehensive analysis of the Global Oxygen Scavengers Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Oxygen Scavengers Market dynamics, structure by analyzing the market segments and project the Global Oxygen Scavengers Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Oxygen Scavengers Market make the report investor’s guide.
Scope of the Global Oxygen Scavengers Market:
Global Oxygen Scavengers Market, by Type:
• Metallic oxygen scavengers
• Non-metallic oxygen scavengers
Global Oxygen Scavengers Market, by Composition:
Global Oxygen Scavengers Market, by Form:
• Sachets, canisters, bottle caps & labels
• OS films & PET bottles
• Liquid form
• Powder form
Global Oxygen Scavengers Market, by End-use Industry:
• Food & beverage
• Oil & gas
• Pulp & paper
Global Oxygen Scavengers Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Oxygen Scavengers Market, Major Players:
• Mitsubishi Gas Chemical Company
• Ecolab Inc.
• BASF SE
• Clariant AG
• Arkema Group
• Kemira OYJ
• Sealed Air Corporation
• Baker Hughes Incorporated
• Solenis LLC
• Aditya Birla Chemicals
• Accepta Ltd
• Solvay America Inc.
• SUEZ Water Technologies & Solutions
• Henkel AG & Co. KGaA
• Multisorb Technologies Inc.
• Toyo Seikan Co. Ltd.
• Desiccare, Inc.
• Angus Chemical Company
• Tetra Technologies, Inc.
• Veolia Water Technologies
• Innospec Inc
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