Global Insights on Oxygen Scavengers Market to 2028 By Drivers, Opportunities, Technologies and Key Players
2021 - 2028 Global Oxygen Scavengers Market
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. Additionally, they are used in oil & gas production, preservation of artworks & solderability of electronic parts, etc. 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. The Asia Pacific is projected to hold the largest share, due to high consumer preference for healthy and safe food that involves a minimal amount of wastage in light of sustainability issues and shifting of manufacturing facilities to emerging countries such as China and India. North America is projected to have the highest CAGR, due to the growing demand for quality packaged food and extensive research & development undertaken to develop advanced packaging techniques to restore the wholesomeness of food items.
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.
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