The global market for oxygen scavenger is projected to have a CAGR of around 4.6% during the forecast period. Oxygen scavenger aids in extending shelf life and product safety by preventing oxidation. They are added to food packaging to limit the level of oxygen to preserve the freshness, flavours, and stability of packaged products. The rising demand for fresh and quality packaged food is the major factor augmenting the growth of the market. The growing concern over the reduction of food wastage creates the demand for oxygen scavenger to store them for a longer period of time. According to the United States, Environmental Protection Agency wasted food costs the commercial food service industry roughly $100 billion annually. Furthermore, according to the GRACE Communications Foundation statistics, US restaurants generate an estimated 22 to 33 billion pounds of food waste each year, and approximately 4 to 10% of food purchased by restaurants is wasted before reaching the consumer.
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COVID-19 Impact on Oxygen Scavenger Market: The oxygen scavenger market is negatively affected by the outbreak of the COVID-19 pandemic since December 2019. The key industry application of oxygen scavenger includes food-packaging, pharmaceutical, industrial/metal and others that rely on the region such as North America, Europe and Asia-Pacific. The outbreak of COVID-19 in the major economies of these regions such as India, Japan, Germany, France, and China have negative market growth. To maintain the social distancing norms, transportation and other facilities were stopped. Additionally, the food and packaging industry was also disrupted due to poor raw materials supply, labour shortage, and halt in production units. The markets for perishables such as vegetables, fruits, dairy products, and processed food are likely to be affected more than those for cereals and prepared foods. The perishables foods create the demand for oxygen scavengers in order to protect them from the outside environment. The market will witness “W” shape recovery in near future owing to the restart of key industries in major economies.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Oxygen Scavenger Market Report Segment
By Type
- Metallic
- Non-Metallic
By End-User
- Food Packaging
- Pharmaceuticals
- Industrial/Metal
- Chemicals
- Others (Microbiology)
Global Oxygen Scavenger Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global oxygen scavenger market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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