USD 2.26 billion
Global Oxygen Scavengers Market Size, Share, Growth Analysis, By Type(Metallic oxygen scavengers, non-metallic oxygen scavengers), By Application(Food and beverage, pharmaceuticals) - Industry Forecast 2024-2031
Report ID:
SQMIG15E2151 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
64 |
Figures:
78
Global Oxygen Scavengers Market Insights
Oxygen Scavengers Market size was valued at USD 2.26 billion in 2021 and is poised to grow from USD 2.36 billion in 2022 to USD 3.69 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).
The global oxygen scavengers market is primarily aimed at providing solutions for removing or reducing the amount of oxygen present in various products, such as food, beverages, pharmaceuticals, and industrial products. Oxygen scavengers are used to prevent oxidation, which can cause spoilage, degradation, or deterioration of these products during storage and transportation. The market players in this industry invest in research and development to develop new and improved oxygen scavengers that are more efficient, sustainable, and cost-effective. The market players in this industry work closely with regulatory bodies to ensure that their products meet the required standards and comply with regulatory requirements. Lastly, the global oxygen scavengers market aims to promote sustainability and reduce environmental impact. With the increasing focus on sustainability and eco-friendliness, many market players are investing in developing biodegradable and environmentally friendly oxygen scavengers. These products are designed to provide effective protection while reducing the environmental impact of the products and packaging materials used.
The global oxygen scavengers market is expected to grow at a steady rate in the coming years due to the increasing demand for packaged food and beverage products, pharmaceuticals, and industrial products. The market is characterized by the presence of several large and small players, who offer a wide range of oxygen scavenger products for different applications. The food and beverage industry is the largest consumer of oxygen scavengers, driven by the increasing demand for packaged food and beverage products, which require effective oxygen scavenger solutions to extend their shelf life. The pharmaceutical industry is also a growing consumer of oxygen scavengers, driven by the need to protect drugs from oxidation during storage and transportation. The market is witnessing increasing demand for eco-friendly and biodegradable oxygen scavengers, driven by the increasing focus on sustainability and environmental impact. Many market players are investing in developing new and innovative products that are more sustainable and environmentally friendly.
US Oxygen Scavengers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Metallic oxygen scavengers
Fastest Growth
Metallic oxygen scavengers
Growth Rate
6% CAGR
Global Oxygen Scavengers Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Oxygen Scavengers Market Size By Type 2022-2030 ($ Bn)
Global Oxygen Scavengers Market Size By Type 2022-2030 (%)
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Global Oxygen Scavengers Market Segmental Analysis
Global Oxygen Scavengers Market is segmented on the basis of type, application and region. By type, the market is segmented into metallic oxygen scavengers, non-metallic oxygen scavengers, and enzymatic oxygen scavengers. By application, market is segmented into food and beverage, pharmaceuticals, oil and gas, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Oxygen Scavengers Market Analysis by Type
Metallic oxygen scavengers are the largest segment in the global oxygen scavengers market. This is because metallic scavengers, particularly iron-based ones, have been widely used for many years and are well-established in the market. They are commonly used in various industries, such as food and beverage, pharmaceuticals, and oil and gas, for their effectiveness and low cost.
The enzymatic oxygen scavengers segment is the fastest-growing segment in the global oxygen scavengers market. Enzymatic scavengers are gaining popularity in the pharmaceutical and medical industries due to their high selectivity and efficiency in removing oxygen. They are also preferred in applications where the use of metal or non-metal scavengers is not ideal due to potential interactions with certain ingredients or packaging materials. The growing demand for pharmaceutical and medical products, coupled with the increasing awareness of the harmful effects of oxygen on these products, is driving the growth of the enzymatic oxygen scavengers segment.
Oxygen Scavengers Market Analysis by Application
The food and beverage segment is currently the largest segment in the global oxygen scavengers market. Oxygen scavengers are widely used in the food and beverage industry to preserve the quality and extend the shelf life of products by preventing oxidation and spoilage. The sub-segments of this industry, such as packaged food, bakery and confectionery, and beverages, make extensive use of oxygen scavengers. The increasing demand for packaged food and beverages, coupled with the growing awareness of food safety and quality, is driving the growth of this segment.
The pharmaceuticals segment is the fastest-growing segment in the global oxygen scavengers market. Oxygen scavengers are used in the pharmaceutical industry to protect drugs, vaccines, and other medical products from oxidation and degradation. The increasing demand for pharmaceutical and medical products, coupled with the growing awareness of the harmful effects of oxygen on these products, is driving the growth of this segment. Additionally, the development of new drug formulations and the increasing use of biologics and biosimilars are driving the demand for more advanced oxygen scavenger technologies.
Global Oxygen Scavengers Market Size By Type 2022(%), 2023 (%)
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Global Oxygen Scavengers Market Regional Insights
North America dominated the global oxygen scavengers market, with high adoption in the food and beverage industry. The region is characterized by strict food safety regulations, which have increased the demand for oxygen scavengers to extend the shelf life of food products. The market is expected to grow at a steady rate due to the growth of the food and beverage industry, as well as the increasing demand for eco-friendly and biodegradable oxygen scavengers. In the United States, the largest market for oxygen scavengers in North America, the food and beverage industry accounts for the majority of the market demand. The country is home to several major players in the oxygen scavengers market, such as Mitsubishi Gas Chemical Company, Ecolab Inc., and BASF SE. The pharmaceutical industry is also a growing consumer of oxygen scavengers in the US, driven by the increasing demand for packaging materials that can extend the shelf life of drugs. Canada is another significant market for oxygen scavengers in North America, driven by the growth of the food and beverage industry in the country. The Canadian government has implemented several food safety regulations, which are driving the adoption of oxygen scavengers in the country. The country is also witnessing increasing demand for sustainable and biodegradable oxygen scavengers.
Asia Pacific is the fastest-growing market for oxygen scavengers, driven by the rapid expansion of the food and beverage industry in the region. The region is characterized by a growing population and increasing disposable income, which is driving the demand for packaged food and beverage products. The market is also witnessing the increasing adoption of eco-friendly and biodegradable oxygen scavengers. China is the largest market for oxygen scavengers in the Asia Pacific, driven by the high demand for packaged food and beverage products in the country. The Chinese government has implemented several food safety regulations, which are driving the adoption of oxygen scavengers in the country. The country is also witnessing increasing demand for sustainable and eco-friendly oxygen scavengers. India is another significant market for oxygen scavengers in the Asia Pacific, driven by the growth of the food and beverage industry in the country. The Indian government has implemented several food safety regulations, which are driving the adoption of oxygen scavengers in the country. The country is also witnessing increasing demand for biodegradable and sustainable oxygen scavengers. Japan is a mature market for oxygen scavengers in the Asia Pacific, driven by the high demand for oxygen scavengers in the food and beverage industry. The Japanese government has implemented several food safety regulations, which are driving the adoption of oxygen scavengers in the country. The market is also witnessing increasing demand for eco-friendly and biodegradable oxygen scavengers.
Global Oxygen Scavengers Market Size By Geography, 2022-2030, 2024-2031
- Largest
- Fastest
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Global Oxygen Scavengers Market Dynamics
Oxygen Scavengers Market Drivers
Increasing demand for oxygen scavengers in the packaging industry
- Oxygen scavengers are widely used in the packaging industry to extend the shelf life of food and beverage products. The growing demand for packaged and processed foods, coupled with the increasing need to minimize food waste, is driving the demand for oxygen scavengers in the packaging industry. Manufacturers are developing new oxygen scavengers that are more efficient and cost-effective to cater to the growing demand from the packaging industry.
Rising demand from the water treatment industry
- The water treatment industry is another major end-user of oxygen scavengers. Oxygen scavengers are used to remove dissolved oxygen from water, which can cause corrosion and damage to industrial equipment. With the growing demand for clean and safe water, the demand for oxygen scavengers in the water treatment industry is increasing. Manufacturers are developing oxygen scavengers that are effective in removing dissolved oxygen from water, while also being environmentally friendly and cost-effective.
Oxygen Scavengers Market Restraints
Environmental Concerns
- Oxygen scavengers are often made from synthetic materials that can be harmful to the environment. The use of such materials can lead to pollution and other environmental issues. This can lead to increased regulatory pressure on manufacturers to use more eco-friendly materials, which can impact the growth of the market.
High Cost
- Oxygen scavengers can be expensive to produce, which can make them less attractive to customers. This is especially true in industries where cost control is a major concern. The high cost can also limit the adoption of oxygen scavengers in emerging markets, where companies may be more price-sensitive.
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Global Oxygen Scavengers Market Competitive Landscape
The Global Oxygen Scavengers Market is highly competitive, with a large number of players operating in the market. The market players are focusing on innovation, product development, and expansion to gain a competitive edge in the market. The key strategies adopted by these companies to stay competitive in the market are mergers and acquisitions, product launches, partnerships, and collaborations. Additionally, companies are also investing in R&D to develop new and innovative oxygen scavengers that can offer better performance, cost-effectiveness, and sustainability. The market is also witnessing increased competition from regional players, who are offering lower-priced products and targeting niche applications in the market. Overall, the global market is expected to remain highly competitive in the coming years, with a focus on innovation and sustainability.
Oxygen Scavengers Market Top Player’s Company Profiles
- Mitsubishi Gas Chemical Company, Inc.
- Ecolab Inc.
- Solenis LLC
- BASF SE
- Sealed Air Corporation
- Arkema S.A.
- Clariant AG
- Henkel AG & Co. KGaA
- Kemira Oyj
- Kurita Water Industries Ltd.
- Accepta Ltd.
- Baker Hughes Company
- Innospec Inc.
- Italmatch Chemicals S.p.A.
- Lonza Group AG
- Sigma-Aldrich Co. LLC
- SUEZ S.A.
- Dow Chemical Company
- SNF Floerger Group
- Buckman Laboratories International, Inc.
Oxygen Scavengers Market Recent Developments
- In August 2022, Solenis, a manufacturer of specialty chemicals, announced that it had made an agreement to acquire Clearon, a company that produces disinfectants and sanitizers. This acquisition has enabled Solenis to enhance its position in the water treatment sector.
- In May 2021, Mitsubishi Gas Chemical Company announced that it had developed a new type of oxygen scavenger material that can be used in the packaging of food and pharmaceutical products. The new material is said to be more effective at removing oxygen from packaging than existing solutions, which could lead to longer shelf life for products and reduced waste.
- In July 2021, Clariant, a Swiss specialty chemical company, announced that it had expanded its line of oxygen scavenger products with the launch of a new masterbatch solution. The new masterbatch is designed to be added to plastic packaging materials to improve their oxygen-scavenging capabilities, helping to extend the shelf life of packaged products.
Global Oxygen Scavengers Key Market Trends
- Increasing demand for food preservation: The food and beverage industry is a major end-user of oxygen scavengers. Oxygen scavengers help to extend the shelf life of food products by preventing the growth of aerobic bacteria, which can spoil the food. With the increasing demand for packaged and processed foods, the demand for oxygen scavengers in the food and beverage industry is growing. Manufacturers are developing new oxygen scavengers that are more effective, cost-efficient, and environmentally friendly, to cater to the growing demand for food preservation solutions.
- Growing demand from the pharmaceutical industry: The pharmaceutical industry is another major end-user of oxygen scavengers. Oxygen scavengers help to prevent the degradation of drugs and other pharmaceutical products that are sensitive to oxygen. With the increasing demand for pharmaceutical products, the demand for oxygen scavengers in the pharmaceutical industry is also growing. Manufacturers are developing oxygen scavengers that are compatible with various pharmaceutical formulations and can maintain the stability of drugs over an extended period.
Global Oxygen Scavengers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global oxygen scavengers market analysis, oxygen scavengers are used to remove oxygen from products and packaging in a wide range of industries, including food and beverage, pharmaceuticals, and oil and gas. The market is driven by the increasing demand for these products in these industries, as well as the development of new, more effective oxygen scavengers. One of the key trends in the market is the increasing adoption of eco-friendly oxygen scavengers, which are made from natural materials and are more environmentally friendly than traditional synthetic materials. This trend is driven by growing environmental concerns among consumers and regulatory bodies, as well as by the desire of companies to reduce their environmental impact. In terms of regional analysis, the Asia-Pacific region is expected to be the fastest-growing market for oxygen scavengers due to the increasing demand from industries such as food and beverage and pharmaceuticals in countries like China and India. North America and Europe are also significant markets for oxygen scavengers due to the high demand from the oil and gas and food and beverage industries.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.26 billion |
| Market size value in 2031 | USD 3.69 billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Oxygen Scavengers Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Oxygen Scavengers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Oxygen Scavengers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Oxygen Scavengers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Oxygen Scavengers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Oxygen Scavengers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Oxygen Scavengers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Oxygen Scavengers Market Report Snapshots
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