Oxygen Scavengers Market - A Global and Regional Analysis: Focus on Type, Form, End User, and Region - Analysis and Forecast, 2022-2031

Report Highlights

Global Oxygen Scavengers Market to Reach $4,318.4 Million by 2031

Market Segmentation:

Segmentation 1: by End User

• Pharmaceuticals
• Food and Beverages
• Chemicals
• Oil and Gas
• Others

Food and beverages are anticipated to be one of the prominent end-use markets for oxygen scavengers during the forecast period 2022-2031.

Segmentation 2: by Form

• Canisters
• Sachets
• Stickers
• Resin
• Liquid
• Others

Based on form, the oxygen scavengers market is estimated to be led by sachets during the forecast period 2022-2031.

Segmentation 3: by Type

• Organic Oxygen Scavengers
• Inorganic Oxygen Scavengers

Based on type, the oxygen scavengers market is estimated to be led by inorganic oxygen scavengers during the forecast period 2022-2031.

Segmentation 4: by Region

• North America - U.S., Canada, and Mexico
• Europe - Germany, France, Italy, Spain, and Rest-of-Europe (RoE)
• China
• U.K.
• Asia-Pacific and Japan - Japan, India, South Korea, and Rest-of-Asia-Pacific
• Rest-of-the-World - South America and the Middle East and Africa

China is expected to lead the oxygen scavengers market throughout the forecast period, owing to the presence of a significant number of food, pharmaceutical, and chemical manufacturers in the region.

Recent Developments in Oxygen Scavengers Market

• In September 2017, SUEZ Group acquired GE Water & Process Technologies for around $3.4 billion. This transaction is a group’s strategy for expanding its offering for industrial clients, reinforcing its international footprint, and boosting digital and innovation platforms, especially for oxygen scavengers.
• In 2019, Indorama Ventures completed the acquisition of a 100% stake in the PET business of INVISTA Resins and Fibers GmbH, Germany. The acquisition provides Indorama with competitive advantages, obtaining the intellectual property rights of POLYSHIELD PET and OXYCLEAR Barrier PET, Invista’s barrier technology, in all markets globally.
• In 2021, Solenis was acquired by Platinum Equity from Clayton, Dubilier & Rice (CD&R) and BASF in a transaction worth $5.25 billion. As part of the acquisition, Solenis merged with Sigura Water, an existing Platinum Equity portfolio company, for a total combined transaction value of approximately $6.5 billion. The company generates a combined revenue of approximately $3.5 billion.

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

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different forms and types involved in the oxygen scavenger market. The form segment includes sachets, canisters, stickers, resin, liquid, and others, while the type segment includes organic oxygen scavengers and inorganic oxygen scavengers. Moreover, the study provides the reader with a detailed understanding of the oxygen scavengers market based on end user (food and beverages, pharmaceuticals, oil and gas, chemicals, and others). The government’s need for more environment-friendly methods to prevent packaging wastage problems is fuelling the demand for oxygen scavengers.

Growth/Marketing Strategy: The oxygen scavengers market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions and acquisitions to strengthen their position in the oxygen scavengers market. For instance, in July 2020, Avient acquired the color masterbatch businesses of Clariant. The masterbatch business includes around 46 manufacturing operations and technology centers in 29 countries and approximately 3,500 employees.

Competitive Strategy: Key players in the oxygen scavengers market analyzed and profiled in the study involve oxygen scavenger manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the oxygen scavengers market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

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.