Dublin, Oct. 21, 2022 (GLOBE NEWSWIRE) -- The "Oxygen Scavengers Market - A Global and Regional Analysis: Focus on Type, Form, End User, and Region - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global oxygen scavengers market is projected to reach $4,318.4 million by 2031 from $2,324.4 million in 2021, growing at a CAGR of 6.4% during the forecast period 2022-2031.
The function of oxygen scavengers is to limit the amount of oxygen available for deteriorative reactions, which may lead to reduced functionality of many types of products, including food and beverages, pharmaceuticals, chemicals, and others. Oxygen scavengers are expected to be more valuable as packaging becomes technologically advanced.
Oxygen scavengers are critical elements for the rapidly expanding food and beverage sector. Growth in the oxygen scavengers market is being driven by the increasing usage of oxygen scavengers in active and intelligent packaging and technological developments related to the use of oxygen scavengers.
Market Lifecycle Stage
The oxygen scavengers market is still in the growing phase for food and beverages and pharmaceutical applications owing to ongoing development in these industries; however, for applications such as oil and gas and chemicals, the market is comparatively in its mature stage.
The market is expected to benefit from the growing focus on stringent government rules and regulations by regulatory organizations in various regions and countries, as oxygen scavengers are widely utilized for extending the shelf life of food and pharma products, thereby improving the quality of packaged products. Increasing awareness amongst the consumers related to the food quality is expected to create potential market demand for oxygen scavengers.
Industrial Impact
- With an increased worldwide focus on achieving zero wastage, the shift toward sustainable technologies brings significant sales and financing opportunities in active and intelligent packaging. This shift was prominently experienced in regions and countries such as North America, Europe, the Middle East, and some Asian countries.
- Furthermore, oxygen scavengers have a moderate to high impact on food and pharma applications; however, in the upcoming future, with increased awareness amongst the consumers related to food quality, the impact is anticipated to increase.
Impact of COVID-19
The COVID-19 pandemic considerably impacted the production of oxygen scavengers as a result of country-wide shutdowns of manufacturing sites, labor shortages, and disruptions in supply and demand chains globally, which distorted the market. The supply of oxygen scavengers declined in industrial sectors such as chemicals and oil and gas, while it had a positive impact on the food and pharma packaging sector. Pharmaceutical sales grew drastically during the pandemic period, which boosted the sales of oxygen scavengers. During recovery, with increased research and development activities and the increased need for sustainable packaging, the demand for oxygen scavengers is anticipated to be robust.
Demand - Drivers and Limitations
Following are the demand drivers for the oxygen scavengers market:
- Rising Awareness amongst the Consumers related to Food Quality
- Rising demand for Convenience Foods and Active Food Packaging
- Increasing developments in Pharmaceutical Industry
The market is expected to face some limitations due to the following challenges:
- Hazards Associated with Chemicals in Oxygen Scavengers to Human Health and Potential Threat to Efficiency of Steam Generation Process
- Inconvenience Associated with Oxygen Scavenger Sachets in Food Packaging
Key Topics Covered:
1 Markets
1.1 Industry Outlook
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Rising Awareness amongst the Consumers related to Food Quality
1.2.1.2 Rising demand for Convenience Foods and Active Food Packaging
1.2.1.3 Increasing developments in Pharmaceutical Industry
1.2.2 Business Challenges
1.2.2.1 Hazards Associated with Chemicals in Oxygen Scavengers to Human Health and Potential Threat to Efficiency of Steam Generation Process
1.2.2.2 Inconvenience Associated with Oxygen Scavenger Sachets in Food Packaging
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Growing Dairy Sector across the Globe
1.2.5.2 Technology Innovations and Rising Research on Oxygen Scavenger Usage in Several Sectors
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2 Application
2.1 Global Oxygen Scavengers Market (Applications and Specifications)
2.1.1 Global Oxygen Scavengers Market (by End User)
2.1.1.1 Pharmaceuticals
2.1.1.2 Food and Beverages
2.1.1.3 Chemicals
2.1.1.4 Oil and Gas
2.1.1.5 Others
2.2 Demand Analysis of Oxygen Scavengers Market (by End-User), Value Data
3 Products
3.1 Global Oxygen Scavengers Market (Products and Specifications)
3.1.1 Global Oxygen Scavengers (by Form)
3.1.1.1 Canisters
3.1.1.2 Sachets
3.1.1.3 Stickers
3.1.1.4 Resin
3.1.1.5 Liquid
3.1.1.6 Others
3.2 Demand Analysis of Oxygen Scavengers Market (by Form), Value Data
3.2.1 Global Oxygen Scavengers Market (by Type)
3.2.1.1 Organic Oxygen Scavengers
3.2.1.2 Inorganic Oxygen Scavengers
3.3 Demand Analysis of Oxygen Scavengers Market (by Type), Value Data
3.4 Product Benchmarking: Growth Rate - Market Share Matrix, by Form, 2021
3.5 Patent Analysis
3.5.1 Patent Analysis (by Status)
3.5.2 Patent Analysis (by Organization)
4 Regions
5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Matrix for Key Companies
5.1.3 Market Share Analysis of Key Companies
5.2 Company Profiles
5.2.1 BASF SE
5.2.1.1 Company Overview
5.2.1.1.1 Role of BASF SE in the Oxygen Scavengers Market
5.2.1.1.2 Product Portfolio
5.2.1.2 Business Strategies
5.2.1.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.1.3 BASF SE: R&D Analysis
5.2.1.4 Analyst View
5.2.2 Mitsubishi Gas Chemical Company
5.2.2.1 Company Overview
5.2.2.1.1 Role of Mitsubishi Gas Chemical Company in the Oxygen Scavengers Market
5.2.2.1.2 Product Portfolio
5.2.2.2 Mitsubishi Gas Chemical Company: R&D Analysis
5.2.2.3 Analyst View
5.2.3 Clariant AG
5.2.3.1 Company Overview
5.2.3.1.1 Role of Clariant AG in the Oxygen Scavengers Market
5.2.3.1.2 Product Portfolio
5.2.3.2 Corporate Strategies
5.2.3.2.1 Product Development
5.2.3.3 Clariant AG: R&D Analysis
5.2.3.4 Analyst View
5.2.4 Arkema
5.2.4.1 Company Overview
5.2.4.1.1 Role of Arkema in the Oxygen Scavengers Market
5.2.4.1.2 Product Portfolio
5.2.4.2 Arkema: R&D Analysis
5.2.4.3 Analyst View
5.2.5 Sherwin-Williams Company
5.2.5.1 Company Overview
5.2.5.1.1 Role of Sherwin-Williams Company in the Oxygen Scavengers Market
5.2.5.1.2 Product Portfolio
5.2.5.2 Sherwin-Williams Company: R&D Analysis
5.2.5.3 Analyst View
5.2.6 Multisorb Technologies
5.2.6.1 Company Overview
5.2.6.1.1 Role of Multisorb Technologies in the Oxygen Scavengers Market
5.2.6.1.2 Product Portfolio
5.2.6.2 Analyst View
5.2.7 SUEZ Group
5.2.7.1 Company Overview
5.2.7.1.1 Role of SUEZ Group in the Oxygen Scavengers Market
5.2.7.1.2 Product Portfolio
5.2.7.2 Corporate Strategies
5.2.7.2.1 Market Developments
5.2.7.3 Business Strategies
5.2.7.3.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.7.4 Analyst View
5.2.8 Accepta Water Treatment
5.2.8.1 Company Overview
5.2.8.1.1 Role of Accepta Water Treatment in the Oxygen Scavengers Market
5.2.8.1.2 Product Portfolio
5.2.8.2 Analyst View
5.2.9 Eastman Chemical Company
5.2.9.1 Company Overview
5.2.9.1.1 Role of Eastman Chemical Company in the Oxygen Scavengers Market
5.2.9.1.2 Product Portfolio
5.2.9.2 Corporate Strategies
5.2.9.2.1 Market Developments
5.2.9.3 Eastman Chemical Company: R&D Analysis
5.2.9.4 Analyst View
5.2.10 Avient Corporation
5.2.10.1 Company Overview
5.2.10.1.1 Role of Avient Corporation in the Oxygen Scavengers Market
5.2.10.1.2 Product Portfolio
5.2.10.2 Corporate Strategies
5.2.10.2.1 Product Development
5.2.10.3 Business Strategies
5.2.10.3.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.10.4 Avient Corporation: R&D Analysis
5.2.10.5 Analyst View
5.2.11 TPG CO., LTD.
5.2.11.1 Company Overview
5.2.11.1.1 Role of TPG CO., LTD. in the Oxygen Scavengers Market
5.2.11.1.2 Product Portfolio
5.2.11.2 Analyst View
5.2.12 Desiccare, Inc.
5.2.12.1 Company Overview
5.2.12.1.1 Role of Desiccare, Inc. in the Oxygen Scavengers Market
5.2.12.1.2 Product Portfolio
5.2.12.2 Analyst View
5.2.13 Solenis
5.2.13.1 Company Overview
5.2.13.1.1 Role of Solenis in the Oxygen Scavengers Market
5.2.13.1.2 Product Portfolio
5.2.13.2 Business Strategies
5.2.13.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.13.3 Analyst View
5.2.14 Indorama Ventures
5.2.14.1 Company Overview
5.2.14.1.1 Role of Indorama Ventures in the Oxygen Scavengers Market
5.2.14.1.2 Product Portfolio
5.2.14.2 Business Strategies
5.2.14.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.14.3 Indorama Ventures: R&D Analysis
5.2.14.4 Analyst View
5.2.15 Schlumberger Limited
5.2.15.1 Company Overview
5.2.15.1.1 Role of Schlumberger Limited in the Oxygen Scavengers Market
5.2.15.1.2 Product Portfolio
5.2.15.2 Schlumberger Limited: R&D Analysis
5.2.15.3 Analyst View
5.2.16 Wilhelmsen Group
5.2.16.1 Company Overview
5.2.16.1.1 Role of Wilhelmsen Group in the Oxygen Scavengers Market
5.2.16.1.2 Product Portfolio
5.2.16.2 Corporate Strategies
5.2.16.2.1 Mergers, Acquisitions, Collaborations, Partnerships, and Joint Ventures
5.2.16.3 Analyst View
5.2.17 FINEAMIN SA
5.2.17.1 Company Overview
5.2.17.1.1 Role of FINEAMIN SA in the Oxygen Scavengers Market
5.2.17.1.2 Product Portfolio
5.2.17.2 Business Strategies
5.2.17.2.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
5.2.17.3 Analyst View
5.2.18 Ocean Chemicals
5.2.18.1 Company Overview
5.2.18.1.1 Role of Ocean Chemicals in the Oxygen Scavengers Market
5.2.18.1.2 Product Portfolio
5.2.18.2 Analyst View
5.2.19 HLC Vietnam
5.2.19.1 Company Overview
5.2.19.1.1 Role of HLC Vietnam in the Oxygen Scavengers Market
5.2.19.1.2 Product Portfolio
5.2.19.2 Analyst View
5.2.20 Weihai Xiangyu Technology Co., Ltd
5.2.20.1 Company Overview
5.2.20.1.1 Role of Weihai Xiangyu Technology Co., Ltd, in the Oxygen Scavengers Market
5.2.20.1.2 Product Portfolio
5.2.20.2 Analyst View
6 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/pct3dq
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