Increasing consumption of meat, dairy and seafood products, favorable growth in food & beverage industry and research activities in packaging sector are key factors contributing to a high CAGR of the Oxygen Scavenger Masterbatch market during the forecast period.
According to the current analysis of Reports and Data, the global Oxygen Scavenger Masterbatch market was valued at USD 21.1 Million in 2020 and is expected to reach USD 36.8 Million by the year 2028, at a CAGR of 7.3%. Oxygen scavenger masterbatch preserves perishable items by significantly reducing the oxygen content in the plastics used in packaging. Oxygen Scavenger Masterbatch, also known as oxygen absorbent masterbatch or additive, is used in active packaging applications to absorb oxygen from the food packaging environment and extend the shelf life of the item. It helps maintain the freshness, taste, and color of a range of packaged foods, including processed meats, pet snacks, packaged coffee powders, dried meats, and ready-to-eat meals. Increasing demand for meat & dairy products around the globe will propel oxygen scavenger masterbatch demand by 2025. The presence of oxygen in perishable food products has been found to affect the packaged food shelf life negatively. These trends are driving specialty masterbatch demand in the food packaging sector. Oxygen absorber masterbatch significantly reduces oxygen content within the packaging products and helps in extending the life of packaged food. Growing meat & dairy product consumption will drive the demand for smart and intelligent packaging, which will further increase oxygen absorber masterbatch market demand by 2025.
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Another important growth driving factor is increasing technological innovation in the food and beverage packaging sector across the world. Some of the key trends include incorporating active and intelligent packaging in packaged food and beverages. Oxygen absorber additives are utilized in active and smart packaging applications to remove oxygen present within the packaging and to enhance shelf life & quality of food items. Changing consumer buying behavior related to packaged food along with growing demand for tamper-proof, portable, and resealable food packaging will positively affect oxygen scavenger masterbatch demand by 2026.
Increasing consumption of dairy and meat products has affected the demand for oxygen scavenger masterbatch products in food packaging applications, is estimated to propel the regional markets. North America held the largest market in 2018 owing to increasing disposable income, changing lifestyles, and the rise in consumption of nutritional products. Consequently, the high costs associated with the product may hamper the market growth.
Further key findings from the report suggest
- As of 2018, organic oxygen absorber masterbatch is the leading product segment of the global Oxygen Scavenger Masterbatch This segment is projected to register the fastest growth with the highest CAGR during the forecast period due to rising research and development activities being carried out across the world for enhancing product performance
- The inorganic oxygen scavenger masterbatch segment has shown a substantial share of the overall market in 2018 and is expected to maintain the position during the forecast period
- The flexible packaging application of oxygen scavenger masterbatch accounted for the most significant market share in 2018. It is projected to maintain its lead with a significant CAGR during the forecast period
- The meat, poultry & fish end-use segment is the fastest-growing segment, registering the highest CAGR which held the chief position followed by the snacks & confectionaries segment in the oxygen scavenger masterbatch market
- The North America region accounted for the most significant market share in 2018. This region is proposed to remain the dominant regional segment during 2019-2026. The U.S. country is the fastest-growing economy, which is projected to drive the global oxygen Scavenger Masterbatch market.
- Both Europe and Asia-Pacific regions are forecasted to show significant growth over the coming years
- Key participants include Clariant AG, Albis Plastic GmbH, Henkel AG & Co., KGaA, Gabriel-Chemie Gesellschaft GmbH, NanoBioMatters Industries S.L, Tosaf Inc., PolyOne Corporation, Mitsubishi Gas Chemical Company, Inc., CSP Technologies, Inc., Sealed Air Corporation, Mondi Plc, and Berry Global, Inc.
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For the purpose of this report, Reports and Data has segmented the Oxygen Scavenger Masterbatch market on the basis of product, application, end-use, and region:
Product (Revenue, USD Million; Volume in Kilo Tons, 2018–2028)
- Organic Oxygen Scavenger Masterbatch
- Inorganic Oxygen Scavenger Masterbatch
Application (Revenue, USD Million; Volume in Kilo Tons, 2018–2028)
- Flexible Packaging
- Rigid Packaging
End-Use (Revenue, USD Million; Volume in Kilo Tons, 2018–2028)
- Meat, Poultry & Fish
- Snacks & Confectionaries
- Fruits & Vegetables
- Dairy Products
- Alcoholic Beverages
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Regional Outlook (Revenue in USD Million; Volume in Kilo Tons, 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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