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The Ethylene Absorber Market size is predicted to reach $35.7 Billion by 2030, growing at a CAGR of 18% over the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Growing Demand for Fresh Produce, Sustainability and Environmental Concerns, and Technological Advancements are the driving factors of the market over the forecast period, finds IndustryARC in its recent report, titled “Ethylene Absorber Market Size, Share & Trends Analysis Report By Product (Ethylene Absorber Packets, Ethylene Absorber Sheets, Ethylene Absorber Filters, Ethylene Absorber Machines, Ethylene Absorber Pads, Anti-Ethylene Bags, Others), By Chemicals (Potassium Permanganate, Sodium Permanganate, Activated Carbon, Alumina, Zeolite, Ethylene Oxide Scavengers, Others) By Application (Agriculture, Food Packaging, Cold Storage Facilities, Ripening Rooms, Residential, Transportation, Others), By End User (Supermarkets and Hypermarkets, Food Processing and Packaging Companies, Agricultural Producers and Growers, Cold Storage and Warehousing Facilities, Others) & Industry Forecast, 2024-2030.”
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Ethylene Absorber Market 2024-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
18% |
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Market Size in 2030 |
$35.7 Billion |
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Segments Covered |
Product, Chemicals, Application, End User |
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Key Market Players |
|
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Ethylene Absorber Market Report – Key Takeaways:
The South American region is anticipated to experience the highest growth during the forecast period from 2024 to 2030, with a Compound Annual Growth Rate (CAGR) of 22%. Demand for ethylene absorbers is rising as South American nations place a greater emphasis on the growth of their agricultural industries. A natural plant hormone called ethylene is essential to the ripening of fruits and vegetables. Producers and retailers in the agricultural industry are realizing how crucial it is to use ethylene absorbers to keep produce fresher for longer periods while it is being transported and stored. This development is consistent with South America’s aim to improve agricultural productivity, which has led to a notable growth in the market for ethylene absorbers in the area.
Ethylene absorber filters are designed to efficiently and effectively remove ethylene gas from storage facilities, shipping containers, and refrigeration units. They provide a high level of control over ethylene levels, preventing premature ripening and decay of perishable products. It aligns with the growing emphasis on environmental sustainability. They help reduce food waste, which is not only cost-effective but also eco-friendly, making them an attractive option for businesses aiming to minimize their carbon footprint. The increasing demand for fresh produce year-round has intensified the need for efficient ethylene control solutions. Ethylene absorber filters play a crucial role in ensuring that consumers have access to high-quality, fresh fruits and vegetables, regardless of the season.
Stringent food safety and quality regulations can be challenging for ethylene absorber manufacturers. Compliance requires adherence to strict guidelines, testing, and certifications. Companies must invest in research and development to meet regulatory requirements and obtain necessary certifications. Non-compliance can result in legal issues and loss of reputation, making adherence to regulations a crucial challenge in the market.
Continuous advancements in ethylene absorber technology have led to more efficient and cost-effective solutions. New materials and devices offer better control over ethylene levels. Technological innovations have enabled the market to provide improved, reliable, and affordable ethylene control solutions. These innovations have made ethylene absorbers more accessible and attractive to a wider range of industries.
Economic uncertainty, such as recessions or currency fluctuations, can affect businesses’ ability to invest in ethylene absorber technology. The economic downturn can lead to cautious spending by businesses, impacting market growth. However, cost-saving measures and a focus on reducing food waste during economic uncertainty can drive the adoption of ethylene absorbers.
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Key Opportunity Analysis:
Global Expansion and Diversification:
The market has the opportunity to expand globally and diversify its customer base. As the demand for fresh produce increases worldwide, ethylene absorber solutions can be introduced in new markets and industries. Companies can seize this opportunity to explore untapped markets, collaborating with partners in different regions and industries. A global presence can reduce dependence on specific markets and enhance revenue streams.
Innovation in Green Technologies:
The growing emphasis on environmentally friendly solutions presents an opportunity for the development of green technologies in the Ethylene Absorber Market. Companies that invest in eco-friendly and sustainable ethylene absorbers can attract environmentally conscious consumers and businesses. Innovation in green technologies can give companies a competitive edge in the market and contribute to long-term growth.
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The Report also Covers the Following Areas:
Ethylene Absorber Market 2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
Lockdowns and restrictions on movement disrupted the supply chain, impacting the availability of raw materials and production capacity for ethylene absorbers. This, in turn, affected the market’s ability to meet demand. Supermarkets and retail chains began using ethylene absorbers to reduce food waste and ensure that perishables remained fresh for longer, as consumer behavior shifted towards more home cooking and less eating out.
The crisis in Ukraine and its neighboring regions has disrupted the supply chain for materials used in the production of ethylene absorbers. This has led to price fluctuations and potential shortages. Economic repercussions from the crisis, such as changes in currency exchange rates and trade sanctions, have influenced the cost of ethylene absorber production and affect pricing strategies.
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List of Key Market Players in Ethylene Absorber Market:
The key companies profiled in the Ethylene Absorber Market Report are listed below:
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