The oxygen scavengers market is projected to grow at a CAGR of 5.1% from 2017 to 2022, in terms of value.
The oxygen scavengers market is projected to reach USD 2.41 billion by 2022, at a CAGR of 5.1% from 2017 to 2022. The increasing demand for high-quality packaged food is expected to drive the growth of the oxygen scavengers market during the forecast period. The growing awareness regarding the reduction of food wastage and the increased demand for advanced packaging among consumers are expected to further aid the growth of the market during the forecast period. However, non-volatile nature of oxygen scavengers can restrain the growth of the oxygen scavengers market during the forecast period. The requirement of technical expertise for handling oxygen scavengers is one of the key challenges for the growth of the market.
Based on type, the non-metallic segment is projected to be a faster-growing segment of the market during the forecast period.
Based on type, the non-metallic segment is projected to be a faster-growing segment of the market during the forecast period. Non-metallic oxygen scavengers mainly include organic scavengers that are generally non-volatile and less toxic in nature. These scavengers are used when products are to be shipped internationally and the detection of metal-based scavengers can result in the rejection of the product for export.
North America is projected to be the largest market for oxygen scavengers during the forecast period, in terms of value.
North America is the largest consumer of packaged food and pharmaceutical products. Furthermore, factors such as a large industrial base, and high disposable income and high standard of living is expected to fuel the growth of the oxygen scavengers market in the region.
The market sizes estimated in this study have been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories:
- By Company Type: Tier 1 - 50%, Tier 2 - 36%, and Tier 3 - 14%
- By Designation: C Level - 14%, Director Level - 36%, and Others - 50%
- By Region: North America - 29%, Europe - 14%, Asia Pacific - 36%, Central & South America - 7%, and Middle East & Africa - 14%
The report provides profiles of major market players, such as Mitsubishi Gas Chemical Company (Japan), BASF SE (Germany), Ecolab Inc. (US), Clariant Ltd. (Switzerland), and Kemira OYJ (Finland). The report also includes the competitive strategies adopted by them to strengthen their position in the market.
The objective of the study is to define, describe, and forecast the market based on various segmentations and strategically analyze the market segments with respect to individual growth trends, growth prospects, and contribution to the total market. In this report, the oxygen scavengers market has been segmented based on type, end-use industry, and region.
REASONS TO BUY THE REPORT
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the oxygen scavengers market comprehensively and provides the closest approximations for sizes of all market segments and subsegments across different verticals and regions.
2. This report will help stakeholders in obtaining an improved understanding of their competitors and gain insights about their businesses. The competitive landscape section includes detailed information about new product developments/product showcases, mergers & acquisitions, investments & expansions, and partnerships, agreements, and collaborations adopted by the key players in the oxygen scavengers market.
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