Global Oxygen Scavenger Masterbatch Market size for Food Packaging is set to grow from its current market value of more than $17 million to over $25 million by 2025; according to a new research report by Global Market Insights, Inc.
Innovations in food packaging sector has been proved to be a great driving force for oxygen scavenger masterbatch market for food packaging. To ensure food safety and edibility of perishable products, several new technological advancements have been made in oxygen scavenger masterbatch industry for food packaging. New packaging materials and techniques preserving quality of food products are also offering impetus to the industry.
Growing concerns over the deterioration of dairy items due to reaction with oxygen has generated the need for the specialty masterbatches in the food packaging sector. Rising demand and consumption of fresh dairy products is likely to offer a push to the oxygen scavenger masterbatch market for food packaging.
Between 2019 and 2030, the global demand growth for milk and milk products is anticipated to be three times the level of current U.S. milk production. Currently, about 876 million tons of milk are produced globally with EU, India, and Oceania among the top producers. Cheese consumption in the U.S. is expected to continue to increase between 2017 and 2022. By 2030, milk production and demand is forecasted to increase in total by 35%, simultaneously expanding oxygen scavenger masterbatch market size for food packaging.
Snacks & confectionaries end-user segment will hold around 20% share of overall market throughout study period. Presence of oxygen inside the packaging can deteriorate the quality of the snacks and confectionaries. Rising consumption of the savory snacks and baked items across the developed countries will propel the oxygen scavenger additives demand in next few years.
European oxygen scavenger masterbatch market for food packaging will reach to a value of more than USD 8 million by the end of the forecast time period. This is owing to growing consumption of alcoholic products, dairy products, and meat in Europe. Furthermore, stringent government regulations related to packaging materials used for food & beverages will also increase the demand for active & intelligent packaging in the near future.
U.S. Oxygen Scavenger Masterbatch Market for Food Packaging Size, By Application 2014 – 2025 (USD Million)
Major industry players in the market comprises of Albis Plastic, Clariant, Gabriel Chemie, Henkel, Tosaf and NanoBioMatters. These companies are strategically investing to expand the capacities for the active packaging and related products and are actively entering into partnerships with other players to offer significant competition in the market.
Various packaging needs varying with the type of food item and packaging requirements are going to contribute in the growth of oxygen scavenger masterbatch industry for food packaging. Several technological advancements and innovations are being made by the companies like Ilip that are setting examples for the market players like Clariant, Albis Plastic, Gabriel Chemie etc. to put extra efforts in the direction of development. Increasing demand of meat and dairy products is also a key factor contributing to value of oxygen scavenger masterbatch market for food packaging which is estimated to be over $25 million by 2025
Source: https://www.gminsights.com/pressrelease/oxygen-scavenger-masterbatch-market
