Global Oxygen Scavenger Market is set to grow from its current market value of more than $2 billion to over $3 billion by 2025; according to a new research report by Global Market Insights, Inc.
Driven by the increasing demand from food and beverage packaging, oxygen scavenger market size has registered incremental growth in recent years. Many food products are very sensitive to oxygen and may lead to detrimental effects like change in color of food, change in taste, loss of nutrition, and microbial spoilage. Addition of oxygen scavenger increases the lifespan of the food products as well as ensures safety to a large extent.
Owing to the hectic lifestyles and increasing disposable income levels among middle-aged group, many people are favoring packaged foods instead of conventional cooked meals as they are convenient and affordable. Rising demand for packaged food and the overall expansion of F&B sector will become significant drivers expanding oxygen scavenger market outlook.
OS films & PET bottles segment is forecast to register a notable CAGR of 4.5% up to 2025. PET bottles find wide application across beverage and pharmaceutical sectors. Enumerated below are some notable factors expected to impact the consumption of oxygen scavengers over the next few years.
Oxygen scavengers are widely used in pharmaceutical packaging for increasing the product shelf life and maintaining the efficacy of the pharma products. Nowadays, with vital medicines being transported for long distances, the need to keep them fresh and unspoiled is very necessary. OS films and materials help prevent the growth of micro-organisms and increase longevity of drugs.
Packaging integrity has played a vital role in production and distribution of pharmaceuticals. While delivering packaged medications, suppliers should take care that they need to be protected from any damage and environmental factors such as moisture, heat, and oxygen levels.
Healthcare companies and manufacturers are consistently working to expand the R&D activities in drug discovery, bolstered by massive financial investments, which will boost pharmaceutical packaging sector in the coming years and, in turn, propel oxygen scavenger market outlook.
U.S. Oxygen Scavenger Market Size, By Form, 2014 – 2025 (USD Million)
Asia Pacific is estimated to be a key contributor towards the oxygen scavenger market share owing to the high proportion of convenience eating among consumers and massive investments on packaged food products. In addition, high disposable income of consumers, as well as awareness of nutritional and functional food, will drive the growth of packaged food industry.
Reports suggest that oxygen scavenger market size from food & beverage end-use sector is anticipated to grow over 4.5 % CAGR by 2025. Growing population, high GDP, and presence of several manufacturers will open up large scale opportunities in this region to accelerate food and beverage production activities.
With the increased use of oxygen scavenger in various segments, it has been observed that inorganic segment will hold a significant market share owing to several key advantages of the products compared to other alternatives. These materials are widely used in boiler feed water treatment processes to ensure effectiveness and extend the life of the equipment. Strategic mergers and acquisitions to expand production capacities along with favorable marketing trends associated with pharmaceutical and F&B packaging industry will accelerate oxygen scavenger market size.
Source: https://www.gminsights.com/pressrelease/oxygen-scavenger-market
