Oxygen Scavenger Market: Size, Growth & Key Insights

Global Oxygen Scavenger Market Overview

Global Oxygen Scavenger Market was valued at USD 2.16 billion in 2023 and is expected to reach USD 3.18 billion by the year 2032, at a CAGR of 4.4%.

Oxygen scavengers referred to as the oxygen absorbers, are used specially to overcome or eliminate oxygen from packaged foods and also in feed water for boiler systems. Oxygen scavengers are permanent chemical absorbers that belong to molecular oxygen that is utilized to defense or to control oxygen deterioration rate and to prevent wastage in packaged foods, beverages, pharmaceuticals, and medical devices. Oxygen scavengers are also utilized to prevent metal and alloy fabricated equipment from corrosion caused by dissolved oxygen in a steam boiler at atmospheric condition, as well as to control corrosion of industrial liquid separation processes such as in distillation, extraction, and in wastewater treatment plants where saltwater is generally manufactured in large quantity. Oxygen scavengers have numerous applications in the industrial sector. They not only help to retain the fresh-roasted flavor of coffee and nuts but also help in avoiding the oxidation of oleoresins existing in spices and seasoning foods. They also help in extending the life of pharmaceutical drugs. Oxygen scavengers can offer different benefits such as improving production efficiency, boosting operational reliability, and ensuring safety compliance along with environmental regulations. They also assist with issues occurring out of dissolved oxygen and provide continuous and trouble-free steam production through boilers. 

Market Dynamics And Factors For The Oxygen Scavenger Market

Drivers:

The increasing demand for fresh and quality packaged food among consumers all over the globe is anticipated to hasten the Oxygen scavengers market demand in the coming years. Growing concerns about food wastage and safety concerns over the world are projected to emerge as key drivers. The demand for oxygen scavengers has observed extreme growth due to their oxygen absorption ability, which prevents the wastage of food items and other consumables. Consumers today demand ready-to-eat food items that can be stored for a longer period. Growing demand for active packaging techniques that protect the food from microorganisms and help in maintaining the nutrient value, especially in North America and the Asia Pacific is anticipated to positively impact the market. Developed packaging involves the applications of oxygen absorbers to improve the shelf life of perishable items such as fruits, vegetables, processed food, nuts, and bakery items, which, in turn, is anticipated to improve the oxygen scavengers market growth. The rising popularity of oxygen scavengers owing to their inherent distinct advantages is probably to accelerate the demand during the forecast period.

Restraints:

Oxygen scavengers are highly effective in hampering corrosion of costly boiler equipment in various industries. Sulfites and bisulfites are the most extensively utilized oxygen scavengers in water treatment applications. Nevertheless, these scavengers are non-volatile and do not leave the boiler along with the steam. These oxygen scavengers add dissolved solids and, therefore, affect conductivity to the water. This impurity must be removed from the system through blowdown to maintain proper boiler water chemistry. This is one of the major factors hindering the growth of the oxygen scavenger market. 

Opportunities:

Oxygen scavengers are extensively utilized in food & beverage and pharmaceutical packaging to overcome oxygen in the package. Oxygen scavengers maintain freshly prepared food's flavor, color, fragrance, and nutrition and prolong products' shelf life. Consumers are growingly opting for more packaged food due to changing lifestyles, growing disposable incomes, and overall convenience related to packaged products. Factors such as the rise in the working population, married couples with double income, professionals staying away from home, work from home initiatives, and growth in nuclear families are improving the demand for packaged food, which in turn is stimulating the demand for oxygen scavengers.

Market Segmentation

Segmentation Analysis of Oxygen Scavenger Market:

Based on the Type, the metallic oxygen scavenger segment is anticipated to register the maximum oxygen scavenger market share over the projected period. Iron powder, metal halides sodium bisulfite, and bisulfite ions, are some of the metallic oxygen scavengers, which have metal content. The application of these scavengers to prevent spoilage, mold growth, and the color change is anticipated to drive growth.  In addition, these are easy to handle and offer faster reactions in comparison to non-metallic ones.

Based on the Composition, the Inorganic segment is anticipated to dominate the Oxygen Scavenger market over the forecast period. The high utilization of these oxygen scavengers is their application by the food & beverage industry in packaging applications to reach better quality and longer shelf life. Inorganic oxygen scavengers are also utilized in water handling equipment such as boiler water systems, and feedwater systems for decreasing dissolved oxygen for safeguarding equipment from corrosion

Based on the End-Use Industry, Food & Beverage segment is expected to dominate the Oxygen Scavenger market during the forecast period. Oxygen scavengers are utilized to boost the shelf life and maintain the natural efficacy of food products. They protect food products against oxygen degradation, thus raising the shelf life, customer acceptability, and safety of food products. The application of oxygen scavengers in packaging removes the requirements for preservatives, thereby enhancing the quality of the product offered to the consumer. In emerging economies, such as India and China, the demand for packaged, processed, and ready-to-eat food is rising at a high rate, due to urbanization and changing lifestyles. Therefore, the food and beverage industry are anticipated to dominate the market, during the forecast period.

Regional Analysis of Oxygen Scavenger Market:

The Asia-Pacific region is poised to assert dominance in the oxygen scavenger market, reflecting a confluence of factors driving demand and innovation. With rapid industrialization, burgeoning food and beverage sectors, and a heightened focus on preserving product quality, the region stands as a beacon for oxygen scavenger solutions. Additionally, the expanding pharmaceutical and healthcare industries underscore the critical need for oxygen-free environments, further fueling market growth. Leveraging its robust manufacturing capabilities and technological advancements, the Asia-Pacific region is primed to lead the global oxygen scavenger market, offering tailored solutions to diverse sectors and solidifying its position as a key player in this vital industry.

Innovations in packaging technologies, coupled with heightened awareness regarding food safety and sustainability, are set to propel the Asia-Pacific region to the forefront of the oxygen scavenger market. As consumers demand fresher, longer-lasting products, manufacturers are increasingly turning to oxygen scavengers to extend shelf life and maintain product integrity. This trend is particularly pronounced in densely populated countries where urbanization and changing lifestyles drive demand for convenient, ready-to-eat meals and packaged goods. Moreover, stringent regulatory standards and the emergence of eco-friendly packaging solutions are reshaping the market landscape, prompting companies in the Asia-Pacific region to invest in research and development to meet evolving consumer preferences and regulatory requirements.

Players Covered in Oxygen Scavenger market are :

• BASF SE
• Accepta Ltd.
• Multisorb Technologies Inc.
• Mitsubishi Gas Chemical Company Inc.
• Angus Chemical Company
• Arkema S.A.
• Chemfax Products Ltd.
• Solenis LLC
• Clariant International Ltd.
• RoEmex Limited
• Eastman Chemical Company
• Ecolab Inc.
• Guardian Chemicals Inc.
• Thermax Ltd
• Henkel AG & Co. KGaA
• Hydrite Chemical Co.
• TETRA Technologies Inc.
• SUEZ Water Technologies & Solutions and other major players.

Key Industry Developments In The Oxygen Scavenger Market

• In April 2022, Avient Corporation announced its agreement to acquire DSM Protective Materials, including the renowned Dyneema® brand, for $1.485 billion. Concurrently, Avient plans to explore options for the sale of its Avient Distribution business. Dyneema®, known as the World's Strongest Fiber™, offers ultra-lightweight yet exceptionally strong properties, finding applications in various sectors such as ballistic protection, marine, renewable energy, and industrial safety. With estimated 2022 sales of approximately $415 million and an EBITDA of $130 million, the acquisition strengthens Avient's position in high-performance materials, particularly in composites and engineered fibers.