Market Size of Oxygen Scavengers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oxygen Scavengers Market Analysis
The market for oxygen scavengers is expected to registera CAGR of over 4%, during the forecast period. One of the key factors driving the market is the increasing demand for fresh and quality packaged food. However, the non-volatile nature of oxygen scavengers is likely to restrain market growth.
- The food and beverage industry is expected to dominate the market, during the forecast period.
- Increasing demand from industrial boilers is expected to create growth opportunities for the market, in the future.
- North Americaaccounted for the highest market share globally.
Oxygen Scavengers Industry Segmentation
The oxygen scavengers market report includes:
| Type | |
| Metallic Oxygen Scavengers | |
| Non-metallic Oxygen Scavengers |
| End-user Industry | |
| Food and Beverage | |
| Pharmaceutical | |
| Power | |
| Oil and Gas | |
| Chemical | |
| Pulp and Paper | |
| Others |
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Oxygen Scavengers Market Size Summary
The oxygen scavengers market is poised for steady growth, driven primarily by the rising demand for fresh and high-quality packaged food. This demand is particularly strong in the food and beverage industry, which is expected to maintain its dominance throughout the forecast period. Oxygen scavengers play a crucial role in extending the shelf life of food products by protecting them from oxygen degradation, thereby enhancing their safety and customer acceptability. This technology also reduces the need for preservatives, improving the overall quality of food products offered to consumers. However, the market faces challenges due to the non-volatile nature of oxygen scavengers, which may hinder growth prospects.
Regionally, North America holds the largest market share, with significant contributions from the food and beverage sector. Meanwhile, the Asia-Pacific region is experiencing robust growth, driven by increasing demand in countries like China and India. The Chinese market benefits from a large and growing middle-class population, which is increasingly focused on food safety and quality. Additionally, China's role as a major hub for chemical processing and the rising consumption of oxygen scavengers in the oil and gas sector further bolster market growth. In India, the demand for packaged and flexible packaging is on the rise, supported by a growing population and urbanization trends. The market is characterized by partial fragmentation, with key players such as BASF SE, Mitsubishi Gas Chemical Company Inc., Ecolab, Arkema, and Clariant holding significant shares.
Oxygen Scavengers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Fresh and Quality Packaged Food
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Non-volatile Nature of Oxygen Scavengers
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Metallic Oxygen Scavengers
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2.1.2 Non-metallic Oxygen Scavengers
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2.2 End-user Industry
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2.2.1 Food and Beverage
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2.2.2 Pharmaceutical
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2.2.3 Power
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2.2.4 Oil and Gas
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2.2.5 Chemical
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2.2.6 Pulp and Paper
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2.2.7 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 France
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2.3.3.3 United Kingdom
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2.3.3.4 Italy
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2.3.3.5 Rest of the Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa (MEA)
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Oxygen Scavengers Market Size FAQs
What is the current Oxygen Scavengers Market size?
The Oxygen Scavengers Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Oxygen Scavengers Market?
BASF SE, MITSUBISHI GAS CHEMICAL COMPANY INC., Ecolab, Clariant and Arkema are the major companies operating in the Oxygen Scavengers Market.
