Oxygen Scavenger Masterbatch Market Analysis

Oxygen Scavenger Masterbatch Market Analysis

Based on product, the oxygen scavenger masterbatch market for food packaging has been segregated into organic and inorganic. Inorganic products are further sub segmented into iron-based and other inorganic products. Organic oxygen absorber masterbatch segment is likely to grow at a CAGR of around 8% in the forecast time period. This is owing to rising research and development activities being carried out across the world for enhancing product performance. These products capture oxygen by oxidizing carbon-carbon double bonds and significantly reduce oxygen content in packaging products.

Flexible packaging segment accounted for more than 75% share of the overall industry in the study period. Flexible packaging is widely accepted among consumers due to its lightweight and convenient features. Growing awareness towards benefits of sustainable packaging along with fast technological advancements are likely to drive the oxygen scavenger masterbatch market growth for food packaging in the forecast period.
 

The major end-uses in the market includes packaging for meat, poultry & fish, fruits & vegetables, dairy products, alcoholic beverages, snacks & confectionaries and others. Other end-users comprise aromatic powders, non-alcoholic beverages, etc. Meat, poultry & fish packaging is likely to hold more than 35% share of the overall industry throughout the forecast period. Increasing concerns over bacterial growth and lipid oxidation in meat, poultry & fish products is likely to propel oxygen absorber masterbatch demand in the coming years. Dairy products segment is also likely to grow at around 6% CAGR throughout the forecast period due to growing concerns over the preservation of quality in milk products.

North America held more than 35% share of the global oxygen scavenger masterbatch market for food packaging owing to increasing consumption of meat and dairy products in the region. The U.S. is the largest consumer of dairy products in the world and consumed around 22 kg per capita dairy products in between 2014 to 2016. The country also consumed around 12 million tons of beef in 2018. Rising disposable income, lifestyle changes and increasing consumption of nutritional products has resulted in increasing consumption of dairy products in the region, which will further augment oxygen absorber masterbatch demand in the forecast time period.
 

Another key region in the industry is Asia Pacific which is likely to grow by a CAGR of over 6% in the study period. This is due to developments in the food & beverage industry in the emerging countries of the region. Major countries including China, India, Australia, etc. are witnessing substantial growth in the consumption of dairy products, meat products, and alcoholic beverages which is likely to drive the oxygen absorber masterbatch demand in the coming years.