Global Oxygen Scavenger Market Set to Grow at a Robust Pace Due to Rising Demand for Food Freshness

Oxygen scavengers are chemicals that are used to remove molecular oxygen from packaging headspaces or encapsulate interiors. They prevent oxidative damage to packaged foods, pharmaceuticals, and other products. The demand for oxygen scavengers is driven by their ability to extend the shelf life of packaged products by preventing spoilage caused by oxygen.Their application helps improve product freshness, quality, and reduce food wastage. The growing processed and packaged food industry is one of the key demand generators for oxygen scavengers.

Global oxygen scavenger market is expected to reach US$ 3.5 Bn by 2030, from US$ 2.4 Bn in 2023, exhibiting a CAGR of 5.4% during the forecast period.

Key Takeaways
Key players operating in the Global Oxygen Scavenger Market are BASF SE, Mitsubishi Gas Chemical Company, Inc., Ecolab Inc., and Clariant Ltd.

Key opportunities in the market include expanding application in non-food sectors like personal care and pharmaceuticals. There is growth potential in developing regions with rising disposable incomes and growing demand for packaged foods.

Technological advancements include developing Global Oxygen Scavenger Market that are more environment-friendly and suitable for a wider range of products and packaging materials. Advanced formulations help scavenge oxygen more efficiently and extend shelf-life further.

Market Drivers
The main driver for the oxygen scavenger market is the growing demand for packaged and processed foods. Rising global population and changing lifestyles have increased demand for packaged foods which require effective oxygen barrier packaging. Growing need to reduce spoilage and waste of perishable products also drives market growth. Shift towards smaller pack sizes catering to smaller households also benefits market growth. Strict regulations regarding food safety and quality standards across the globe propel the demand for oxygen scavenging solutions.

Current challenges in Global Oxygen Scavenger Market
The global oxygen scavenger market is facing many technological and economic challenges. The oxidation rates of oxygen scavengers need to be improved for better efficiency. High production costs also affect the affordability of oxygen scavengers. Strict environmental regulations pose compliance challenges for manufacturers. Additionally, the outbreak of Covid-19 pandemic has disrupted supply chains and demand-supply dynamics.

SWOT Analysis
Strength: Oxygen scavengers help increase the shelf life of packaged products. They protect products from oxidation degradation.
Weakness: Certain oxygen scavengers may produce harmful byproducts during oxidation reaction. Improper dosage levels can also negatively impact product quality.
Opportunity: Growth of packaged food and beverage industry increases the demand for oxygen scavenging packaging materials. Expanding e-commerce also drives the need for effective oxygen removal solutions.
Threats: Strong competition from alternative shelf life extension techniques. Fluctuations in raw material prices impact the overall costs.

North America accounts for the largest share in the global oxygen scavenger market, both in terms of value and volume. Stringent food safety regulations coupled with presence of major F&B manufacturers drive the market growth. Asia Pacific is projected as the fastest growing regional market for oxygen scavengers. Expanding middle class, rising disposable incomes and growth of retail sector support the market expansion. China dominates the Asia Pacific market due to strong manufacturing base of packaged consumer goods.

Europe follows North America in terms of market size in the global oxygen scavenger market. Growing awareness about benefits of active and intelligent packaging containing oxygen scavengers fuels the European market. Latin America and Middle East & Africa also present lucrative opportunities for oxygen scavenger producers over the forecast period.

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

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