The global oxygen scavenger market is anticipated to grow at a CAGR of around 4.6% during the forecast period (2021-2027). The oxygen scavenger is a material or combination of reactive compounds incorporated into a package structure that may combine with oxygen and effectively remove the oxygen from the inner package environment. The factors that are driving the growth of the global oxygen scavenger market include the rising demand for good and quality packaged food, and growing concern over wastage of food due to deterioration, across the globe. The increasing consumption of packed foods creates the demand for oxygen scavengers to protect them from microorganism to maintains the quality and freshness of food products and to increase food product’s shelf life. The consumption of packaged food is higher in America, 80% of Americans' total calorie consumption comes from packaged foods and beverages. According to the New York Times report, Americans eat 31.0% more packaged food than fresh food, and they consume more packaged food per person than their counterparts in nearly all other countries.
Browse the full report description Global Oxygen Scavenger Market Size, Share & Trends Analysis Report By Type (Metallic, and Non-Metallic) By End-User (Food Packaging, Pharmaceuticals, Industrial/Metal, Chemicals, and Others) Forecast 2021-2027 at https://www.omrglobal.com/industry-reports/oxygen-scavenger-market
Moreover, the introduction of advanced oxygen scavenger products by the market players further creates ample opportunity for the market in the near future. For instance, in April 2020, PolyOne, a provider of specialized polymer materials and services had launched ColorMatrix Amosorb 4020G, a low-haze oxygen scavenger for polyethylene terephthalate (PET) rigid packaging. The product aids to reduce the impact on recycled PET (rPET), as it minimizes yellowing by 50% at the time of the mechanical recycling process. However, the rising use of oxygen scavengers in various applications such as oil & gas, pharmaceuticals, chemicals, among others will further increase the demand, that will drive the market. Further, the technical issues related to the handling of these products is something that hampers the market growth.
Market Coverage
o By Type
o By End-User
o North America
o Europe
o Asia-Pacific
o Rest of the World
Key questions addressed by the report:
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
Global Oxygen Scavenger Market Report Segment
By Type
By End-User
Global Oxygen Scavenger Market Report Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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