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Written by Oliver » Updated on: October 29th, 2024
The latest report by IMARC Group, titled “Oxygen Scavengers Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the oxygen scavengers market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global oxygen scavengers market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.
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Oxygen Scavengers Market Overview:
Oxygen scavengers are chemical substances used in various industries, primarily in packaging and water treatment, to remove or reduce the presence of oxygen in an environment. Their primary purpose is to prevent oxidation, spoilage, and corrosion, particularly in sensitive products or systems. Oxygen scavengers play a crucial role in maintaining product quality, extending shelf life, and preserving the integrity of various materials.
These scavengers are typically incorporated into packaging materials or sachets to absorb any residual oxygen within the packaging, preventing spoilage and maintaining product freshness. They are especially beneficial for perishable goods, such as snacks, processed foods, and pharmaceuticals. In water treatment, oxygen scavengers are employed to eliminate dissolved oxygen from water systems. High levels of oxygen can lead to corrosion in pipelines, boilers, and industrial equipment.
Oxygen Scavengers Market Trends:
The growing need to prevent oxidation and preserve product quality is driving the global market. Oxygen can lead to spoilage, corrosion, and degradation of products in industries such as food and beverage, pharmaceuticals, and packaging. Oxygen scavengers are essential in removing or reducing the presence of oxygen, ensuring product stability and shelf life. Moreover, the demand for sustainable packaging solutions is another significant factor. Oxygen scavengers enable the use of eco-friendly and reduced packaging materials, leading to cost savings and environmental benefits.
As sustainability becomes a key focus for businesses and consumers, the adoption of oxygen scavengers in packaging is on the rise. Furthermore, the growth of the electronics industry is contributing to the oxygen scavenger market. Electronics manufacturers use oxygen scavengers to protect sensitive components from oxidation and moisture during storage and transportation. This ensures the reliability and longevity of electronic devices.
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Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.
Key Market Segmentation:
Our report has categorized the market based on region, type and end use.
Type Insights:
End Use Insights:
Regional Insights:
Key Highlights of the Report:
About US:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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