At a CAGR of 5.5% the Oxygen Scavengers Market Size to Reach $2.9 Billion by 2026 - Exclusive Study by MarketsandMarkets™

SEZ Magarpatta City, INDIA

Chicago, June 06, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Oxygen Scavengers Market By Type (Inorganic oxygen scavengers, Organic oxygen scavengers), By End-use Industry (Food & Beverage, Pharmaceutical, Power, Oil & Gas, Chemical, Pulp & paper), and Region - Global Forecast To 2026", The global oxygen scavengers market size was valued at USD 2.2 billion in 2021 and is projected to reach USD 2.9 billion by 2026 growing at a CAGR of 5.5% between 2021 and 2026.

Oxygen scavengers are chemicals used to reduce the oxygen level present in enclosed packages. They are mainly used in food & beverages industry to provide additional safety and enhanced shelf life to food products. Oxygen scavengers are produced in two major types including inorganic and organic oxygen scavengers. Inorganic oxygen scavengers are iron and sulfite-based, and oxygen scavengers such as DEHA and carbohydrazide are organic. These chemicals are also ideal for reducing corrosion in water-handling equipment such as, boilers and feedwater systems. Oxygen scavengers have applications in various end-use industries such as food & beverage, pharmaceutical, power, oil & gas, chemical, and pulp & paper end-use industries.

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In terms of value, inorganic oxygen scavengers segment is projected to account for the largest share of the oxygen scavenger market, by type, during the forecast period.

Inorganic oxygen scavengers segment is driven by the food & beverage industry in packaging applications. They are also used in industrial equipments for reducing dissolved oxygen for safeguarding water handling equipments from corrosion. Inorganic oxygen scavengers require moisture or humidity for proper functioning. They are not suitable for dry applications due to their requirement for moisture to activate. Moreover, iron-based Inorganic oxygen scavengers are ideal for food & beverage and pharmaceutical industries owing to its faster reaction and easy handling characteristics.

Food & beverages industry is expected to be the largest oxygen scavenger segment in 2021.

Rising demand for processed foods and growing awareness on food wastage due to unhygienic and improper packaging are key growth drivers for the oxygen scavengers market. Additionally, good quality packaging of food & beverages, increasing urbanization in emerging economies, and rising demand for convenient foods are also expected to propel the growth of the market. Oxygen scavengers provide longer shelf life and freshness to processed food & beverages. Moreover, rising income level and growth of the middle-class population are also driving demand for oxygen scavengers in the food & beverage industry.

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APAC is projected to grow the fastest in the oxygen scavengers market during the forecast period.

The growth of the market in the region is mainly credited to emerging economies such as India, China, Indonesia, Malaysia, Singapore, Vietnam, and Thailand. Rising population, urbanization, increasing disposable incomes, and growing food & beverages industry contributes to the growth of the market in APAC. China, Japan, South Korea, India, and Australia are the key oxygen scavenger markets in this region. Additionally, demand for processed food & beverages is increasing the consumption of oxygen scavenger. Moreover, industrialization and government initiatives in power, oil & gas, and chemical industries to attract investments is also driving the market for oxygen scavengers in the region.

Major players operating in the global Oxygen Scavengers Market include:

  • Mitsubishi Gas Chemical Company, Inc. (Japan),
  • BASF SE (Germany),
  • Clariant AG (Switzerland),
  • Ecolab Inc. (US),
  • SUEZ Water Technologies & Solutions (US),
  • Accepta (UK), and
  • Arkema Group (France) among many others.

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Study Coverage

This research report categorizes the oxygen scavenger market based on type, end-use industries, and region. Based on type, oxygen scavengers market is segmented into inorganic and organic oxygen scavenger. Inorganic scavengers can be further classified into three major sub-segments, iron-based, sulfite-based, and others. By end-use industries, the market has been segmented into food & beverage, pharmaceutical, power, oil & gas, chemical, pulp & paper, and others. Based on region, oxygen scavengers market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the oxygen scavenger market.

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