April 24, 2024
Oxygen Scavenger Market

The Global Oxygen Scavenger Market To Be Augmented By Rising Growth In Food And Beverage Industry

The oxygen scavenger market is a multibillion-dollar industry that helps curb oxidation and extend product shelf life across various end-use verticals such as food and beverage, pharmaceuticals, chemicals, and oil and gas. Oxygen scavengers react with oxygen molecules to remove or reduce the amount of dissolved oxygen in packaging environments like bottles, cans, pouches, and bags used for food and beverages. They are available in powder, particle, and liquid formulations and work by absorbing oxygen through an oxidation-reduction reaction. Common oxygen scavengers include ascorbic acid, erythorbic acid, sodium sulfite, sodium bisulfite, sodium hypophosphite, and agents containing iron powders.

The global oxygen scavenger market was valued at US$ 3.5 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.

Food and beverage manufacturers extensively use oxygen scavengers as shelf-life extenders to minimize oxidation of packaged products during distribution and storage. They help preserve nutritional value, texture, color and flavor of perishable foods prone torancidity. Oxygen scavengers ensure fresher and higher quality products reach the consumers with negligible wastage for the manufacturers. The growing food processing industry and rising demand for convenient packaging have augmented the consumption of oxygen scavenging solutions in the sector.

Market Dynamics:

The rising growth in the food and beverage industry around the globe is expected to drive the oxygen scavenger market over the forecast period. As highlighted in the heading, the food and beverage sector has been witnessing increasing demand for processed and packaged foods as well as beverages due to changing lifestyles and busy schedules leaving less time for home-cooked meals. Moreover, population growth along with rising disposable incomes in developing nations has accelerated the food processing industry manifold. Oxygen scavengers help optimize packaging formats to extend the shelf life of perishable products and reduce waste, hence gaining widespread acceptance among food manufacturers.

The other key driver for the market growth is the ability of oxygen scavengers to increase packaging sustainability and reduce environmental impact of excessive plastic packaging waste. By keeping products fresh for longer duration, oxygen scavengers help reduce overall packaging volume without compromising on quality and safety standards. This significantly lowers carbon footprint of the packaging industry as less trash ends up in landfills. Both factors namely growth in food security needs globally

Segmental Analysis :

The global oxygen scavenger market is dominated by the beverage segment. The beverage segment accounted for over 30% of the market share in 2024 due to the high usage of oxygen scavengers in bottled drinks and carbonated soft drinks to prevent oxidation. Oxygen scavengers allow beverages to retain their organoleptic qualities and extend their shelf life without any changes in color, taste or smell for more than a year. The growing demand for bottled drinks globally is expected to further aid the growth of this segment during the forecast period.

Global Oxygen Scavenger Market Segmentation:

  • By Type:
    • Organic
    • Inorganic
  • By Application:
    • Flexible Packaging
    • Rigid Packaging
    • Others
  • By End User:
    • Food & Beverage
    • Pharmaceutical
    • Oil & Gas
    • Chemicals
    • Others

PEST Analysis :

Political: Major economies are promoting the packaging industry through initiatives to reduce food wastage and enhance shelf life of packaged goods. Various trade agreements have also ensured easy availability of raw materials for oxygen scavengers.

Economic: The rising disposable incomes are driving greater consumption of packaged foods and beverages. This is increasing the demand for innovative packaging solutions with extended shelf life like oxygen scavengers. Moreover, stringent food safety regulations are compelling companies to adopt advanced packaging technologies.

Social: Changing lifestyles and busy schedules have increased the demand for convenient packaged food products that can be consumed anytime without compromising on quality and freshness. Oxygen scavengers allow provision of such tasty and fresh packaged options.

Technological: Advances in materials research have enabled development of innovative oxygen scavenging technologies like sachets, labels and cap liners. Incorporation of intelligent and active packaging techniques with oxygen scavengers is further enriching the portfolio of solutions.

Key Takeaways :

The Global Oxygen Scavenger Market Size is expected to witness high growth over the forecast period driven by rising consumption of packaged foods and drinks globally.

Regional Analysis: Asia Pacific accounted for over 35% of the market share in 2024 led by countries like China, India and Japan. The region exhibits highest growth backed by growing population, rapid economic developments and expansion of food processing industry in the region.

Key players operating in the global oxygen scavenger market are BASF SE, Mitsubishi Gas Chemical Company, Inc., Ecolab Inc., Clariant Ltd., Kemira OYJ, Arkema Group, Baker Hughes Company, Sealed Air Corporation, Solenis LLC, PolyOne Corporation, Avient, Cortec Corporation.

*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it