Oxygen Scavengers Market Valued at US$ 2.2 Billion in 2022, Expected to Surpass US$ 3.6 Billion by 2032 with a Steady CAGR of 5% | Fact.MR Report

The global oxygen scavengers market sales are worth US$ 2.2 billion and are projected to cross a revenue value of US$ 3.6 billion by the end of 2032. During the next decade, the oxygen scavengers market is projected to grow at 5% CAGR.

Strong demand for packaged food of good quality and fresh food is expected to be a major driver of oxygen scavenger consumption in the next few years. Additionally, the enforcement of stringent food safety regulations and emphasis on minimizing food wastage globally are also likely to benefit oxygen scavenger demand in the future.

Increasing urbanization, growing population, increasing lifestyle habits, and changing consumption patterns towards convenience foods are other drivers that would indirectly affect market potential in the future.

High incidence of chronic diseases has contributed to higher usage of pharmaceuticals and this is likely to drive the application of oxygen scavengers in pharmaceutical packaging in the future. Thriving chemical manufacturing activity globally is also expected to favor the overall demand for oxygen scavengers in the chemical sector until 2032.

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Key Takeaways from Market Study:

The global oxygen scavengers market was valued at US$ 2.2 billion in 2022.
The market is projected to reach US$ 3.6 billion by the end of 2032.
The global market is expected to grow at a CAGR of 5% between 2022 and 2032.
The United States accounted for a 25% share of the global oxygen scavengers market in 2022
The metallic segment is forecasted to reach a market value of US$ 1.8 billion by 2032.
The oxygen scavengers market in Canada is expected to grow at a CAGR of 4% from 2022 to 2032.
The non-metallic segment is anticipated to register a CAGR of 5% during the forecast period from 2022 to 2032.

Leading Players Driving Innovation in the Oxygen Scavengers Market:

BASF SE; Baker Hughes; Innospec Inc.; Arkema Group; Clariant; Solvay America Inc.; Kemira; Coventya; Lubchem; Mitsubishi Gas Chemical Company Inc.; Solenis; SUEZ; Accepta Ltd.; Sealed Air Corporation; Ricmar Industries

Country-wise Insights:

There is a strong demand for convenience and packaged foods in the United States and this is expected to be one of the most important factors that drive oxygen scavenger demand in the country.

Adoption of various food safety laws and new food packaging standards recommended by the EPA (Environmental Protection Agency) is also likely to support market potential in the country in the coming years. Currently, U.S. sales of oxygen scavengers represent over 25% of the worldwide market revenue share.

Why Japan & Korea Could Potentially Be Lucrative Markets?

"Strong Chemical Industry to Offer Lucrative Returns"

Japan and Korea have some of the leading chemical manufacturing firms in the world and are home to advanced chemical manufacturing plants. The widespread application of oxygen scavengers in numerous chemical processes and boiler water treatment is likely to propel sales of oxygen scavengers in Japan and Korea in the next few years.

Shifting consumer tastes and increasing consumption of convenience foods are also likely to propagate oxygen scavenger demand in these nations. The Japanese market for oxygen scavengers is projected to develop at a 3% CAGR during the next decade.

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The oxygen scavengers industry is segmented by type, material, end-use industry, and region. Based on type, the market is categorized into organic and inorganic oxygen scavengers. In terms of material, it is divided into metallic and non-metallic segments.

The end-use industries driving demand for oxygen scavengers include food & beverages, pharmaceuticals, power, oil & gas, chemicals, pulp & paper, and other industries. Geographically, the market spans across key regions such as North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA), reflecting a broad global footprint and diverse industrial application.

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