The market is expected to benefit from the growing focus on stringent government rules and regulations by regulatory organizations in various regions and countries.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Oxygen Scavengers Market – A Global and Regional Analysis.
According to this study, the market size of the global oxygen scavengers market was valued at $2.32 billion in 2021 and is projected to reach $4.31 billion by 2031.
The following factors are responsible for the increase in demand for oxygen scavengers:
The detailed study is a compilation of 77 market data tables and 18 figures spread through 188 pages.
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Analyst’s Take on the Market Projection
According to Sachin Singh, Lead Analyst, BIS Research, “Oxygen scavengers are widely used in the food and pharma industry for packaging owing to increasing awareness related to sustainable packaging solutions. Moreover, oxygen scavengers are used as corrosion inhibitors for feed and boiler water treatment in oil and gas and chemical industries. With the increased replacement of traditional packaging methods with oxygen scavengers-based active packaging, wastages are expected to decline substantially, thereby bolstering the growth of the oxygen scavengers market.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are Mitsubishi Gas Chemical Company, Multisorb Technologies, Clariant AG, TPG CO., LTD., Desiccare, Inc., Avient Corporation, Indorama Ventures, Sherwin-Williams Company, BASF SE, Arkema, SUEZ Group, Accepta Water Treatment, Schlumberger Limited., Eastman Chemical Company, and more.
Recent Developments in the Global Oxygen Scavengers Market
Sachets Expected to be the Dominating Oxygen Scavengers Form Types
Oxygen scavengers are widely utilized by end users in various forms such as sachets, canisters, stickers, resin, liquid, and others. The food and beverage sector consumes a considerable amount of the sachets delivered to the marketplace. Governing agencies in various regions of the globe have tightened packaging regulations.
Among different forms, sachets are anticipated to lead the market during the forecast period 2022-2031. Sachets are a common form of oxygen scavengers prominently used for food and beverages and pharmaceutical applications for packaging.
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