Pune, 13, Dec, 2022: As per Maximize Market research, a global business Material and Chemical Research firm, the total global market for “Oxygen Scavengers Market” was USD 2.18 Bn in 2021 and is expected to grow at CAGR of 5.7% over the forecast period to reach 3.39 Bn by 2029. During the forecast period North America is expected to grow at a CAGR of 4.8%.
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Oxygen Scavengers Market Scope and Research Methodology
Oxygen Scavengers Market is growing because of an increase in urbanisation in emerging economies like APAC, the Middle East & Africa, and South America resulting in an increase in the demand for water from industrial processes used in a variety of industries including chemical, food & beverage, oil & gas, power and pulp & paper.
The report provides a comprehensive analysis of the global Oxygen Scavengers Market. The report estimates the Oxygen Scavengers Market, in terms of USD value from 2022 to 2029, base year is 2021. Major Factors are included in the report that are affecting the growth of the market across the globe. For an in-depth understanding segment-wise analysis is done based on product type and end-use industry with this the understanding of the potential of the Oxygen Scavengers Market may be gained from a regional examination of the supply chain, corporate operations, and market value.
The report provides a clear picture of the services being offered in the market that aids the decision-making process for businesses. For the competitive analysis of the Oxygen Scavengers Market, major manufacturers in the industry are listed by region, revenue, financial status, portfolio, technological advancements adopted, mergers and acquisitions, joint venture and strategic alliances in detail. Such analysis acts as a guide for stakeholders, investors, market players and followers and new entrants for futuristic view of the market for marketing tactics and investment approaches.
The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected employing both primary and secondary data collection methods. Primary methods include surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals whereas secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organisations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases. SWOT analysis was conducted to provide the strengths and weaknesses of the Oxygen Scavengers Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Oxygen Scavengers Market.
Oxygen Scavengers Market Overview
Oxygen in the sealed packaging is absorbed by oxygen scavengers and therefore they are also known as oxygen absorber. These scavengers are frequently used in food, beverage, and pharmaceutical packaging to reduce oxygen in the package. They help to preserve the colour, smell, flavour and nutritional value of newly prepared food.
One of the major drivers of the market is growing awareness about how to reduce food wastage caused by unkempt packaging
Oxygen Scavengers Market Dynamics
Oxygen scavengers help to keep products healthier. They delay the non-enzymatic browning of vegetables and fruits along with the growth of aerobic pathogens and food spoilage organisms. These elements are boosting the growth of the oxygen scavenger market across the world.
The increasing working population, married couples with two incomes, professionals living away from home, work-from-home initiatives, and a rise in nuclear families are fuelling the need for oxygen scavengers. These factors increase the demand for packaged food across the world.
Oxygen scavengers also includes dangerous substances which have lead to the health problems. This can be a restraint to an Oxygen Scavengers Market growth.
Oxygen Scavengers Market Regional Insights
Asia Pacific held the Oxygen Scavengers Market with the largest market share in 2021. In APAC, the oxygen scavengers have the fastest-growing market. India, China, Indonesia, Malaysia, Singapore, Vietnam, and Thailand are the region’s growing economies. In these economies the Oxygen Scavengers Market is driven by rising urbanisation rates and population growth where the consumption of packaged and easy food is growing. The two factors that are expected to increase demand for oxygen scavengers are China and India.
During the forecast period, North America region is expected to grow at the fastest rate. The main reason behind the growth in the region is the growing demand for quality packaged food.
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Oxygen Scavengers Market Segmentation
By Type
- Metal
- Non-metallic
By End-Use Industry
- Food & beverage
- Pharmaceutical
- Power
- Oil & gas
- Chemical
- Pulp & paper
- Others
Market Key Players:
- Accepta Ltd
- Arkema Group
- BASF SE
- Clariant
- Kemira
- Mitsubishi Gas Chemical Company Inc.
- Solenis
- Solvay America Inc.
- SUEZ
- Chardon Laboratories, Inc.
- Ricmar Industries
- Chemco Industries, Inc.
- Coventya
- Lubchem
- QualiChem Technologies
Key questions answered in the Oxygen Scavengers Market are:
- What is Oxygen Scavengers?
- What is the growth rate of Oxygen Scavengers Market for the forecast period?
- What is the nature of competition in Oxygen Scavengers industry in developed and developing economies?
- Who are the key players in the Oxygen Scavengers Market?
- Who are the market leaders in Oxygen Scavengers industry in Europe
- Who are the market leaders in Oxygen Scavengers industry in USA and Canada
- Who are the market leaders in Oxygen Scavengers Market in India, China, Japan and South Korea?
- What are the factors affecting growth in the Oxygen Scavengers Market?
- Who held the largest market share in Oxygen Scavengers Market?
- What are the factors for the growth of Asia-Pacific region in Oxygen Scavengers Market?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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