Oxygen Scavengers Market Size worth $3.79 Billion By 2030 | CAGR: 6.0%

The global oxygen scavengers market size is expected to reach USD 3.79 billion by 2030, according to a new study by Polaris Market Research. The report “Oxygen Scavengers Market Share, Size, Trends, Industry Analysis Report, By Type (Inorganic, Organic); By Form (Sachets/Canisters/Bottle Caps & Labels, OS Films & PET Bottles, Liquid, Powder), By End-Use, By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Shifting consumer preferences, rising health consciousness, the burgeoning millennial demographic, and increasing supplemental income among consumers are the main drivers of business development.

For instance, the U.S. Census Bureau projects that the populations of Millennials (those aged 23 to 38) and Boomers (people aged 55 to 73) would be 72.1 million and 71.6 million, respectively, in 2019. By 2028, the Baby Boomers' generation, Generation X (aged 39 to 54), is anticipated to overtake them. The millennial generation is continuously looking for unique nutritional foods that are high in protein and have a delicious flavor. Key industry participants now have new opportunities thanks to the confluence of significant industry trends.

Based on the type, the inorganic scavenger segment accounted for the leading share in the industry in 2021. Inorganic components are commonly employed in food & beverage processing and water purification.

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Scavenging accelerates industry growth over the projection period thanks to O2's developing packaging technology. One of the most effective techniques for O2 management in packaging process applications is the use of "active packaging." Active packaging refers to packaging methods that adapt to environmental changes.

Industry players such as Angus Chemical Company, Accepta Ltd., BASF SE, Clariant Inc., Arkema, Desiccare, Inc., SUEZ Water Technologies & Solutions, Baker Hughes, Eastman Chemical Company, Henkel AG & Co. KGaA, Ecolab Inc., Innospec Inc., Multisorb Technologies Inc., Kemira, Plastichem (PTY) LTD, PolyOne Corporation, Solenis, Sealed Air Corporation, Solvay America Inc., and Tetra Technologies, Inc are some key players operating in the global industry.

In August 2021, Arkema Group agreed to buy Ashland's Performance Sealants sector, a worldwide provider of high-performance sealants for commercial applications in the United States with a distinctive and creative product portfolio.

Polaris Market Research has segmented the oxygen scavengers market report based on type, form, end-use, and region:

Oxygen Scavengers, Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Inorganic
• Organic

Oxygen Scavengers, Form Outlook (Revenue - USD Billion, 2018 - 2030)

• Sachets/Canisters/Bottle Caps & Labels
• OS Films & PET Bottles
• Liquid
• Powder

Oxygen Scavengers, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)

• Food & beverage
• Pharmaceutical
• Power
• Oil & gas
• Chemical
• Pulp & paper
• Others

Oxygen Scavengers, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Austria
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Malaysia
  • South Korea
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • Israel
  • Saudi Arabia
  • South Africa
  • UAE