Global Oxygen Scavenger Market worth $2.9 billion by 2026 – Exclusive Reports By MarketsandMarkets

 

The global oxygen scavenger market size is projected to reach USD 2.9 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 5.5% during the forecast period. The increasing demand for oxygen scavenger from the packaged and convenient food sector is driving the market. In addition, increasing demand from end-use industries such as food & beverage, power, oil & gas, chemical, and pulp & paper as well as decreasing food wastage due to unhygienic and improper packaging are also driving the oxygen scavenger market.

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Browse 220 market data Tables and 45 Figures spread through 224 Pages and in-depth TOC on "Oxygen Scavenger Market by Type (Inorganic oxygen scavengers, Organic oxygen scavengers), by End-use Industry (Food &Beverage, Pharmaceutical, Power, Oil &Gas, Chemical, Pulp & paper), and Region - Global Forecast to 2026"
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Inorganic oxygen scavengers are widely used in food & beverage industry. The inorganic oxygen scavengers’ segment is the largest, which is projected to continue till 2026. The key growth driver of the high consumption of these oxygen scavengers is their use by the food & beverage industry in packaging applications to achieve better quality and longer shelf life. Inorganic oxygen scavengers are also used in water handling equipments such as boiler water systems, and feedwater systems for reducing dissolved oxygen for safeguarding equipments from corrosion. 

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Mitsubishi Gas Chemical Company, Inc. is one of the largest producers of oxygen scavengers globally. It caters to the needs of various industries such as automobiles, electronics, life sciences, environment, and pharmaceuticals. The company has its manufacturing facilities in Japan, America, Singapore, Thailand, and Europe and has three R&D facilities in Japan. Mitsubishi Gas Chemical Company, Inc. has a strong emphasis on R&D.

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Food & beverage is the largest end-use industry of the oxygen scavengers market owing to the increased demand for better quality packaged food items, growth in demand for convenient foods, reduction in food wastage, and increasing urbanization in the emerging economies. These chemicals keep the processed foods fresh for a longer time and increase the shelf life of the products. In addition, the rise in income levels and the growth of the middle-class population are also driving demand for oxygen scavengers in the food & beverage industry.

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