The increasing consumption of packaged foods is expected bolster the healthy growth of the market, states Fortune Business Insights, in a report, “Oxygen Scavenger Masterbatch Market Size, Share & Industry Analysis, By Product (Organic, Inorganic), By Application (Flexible Packaging, Rigid Packaging, Others) and Regional Forecast, 2021-2028.” The increasing demand for ready-to-eat products can have an excellent impact on the market.
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Fortune Business Insights™ lists out a few of the renowned companies present in the oxygen scavenger masterbatch market. They are as follows:
- Mitsubishi Gas Chemical Company, Inc
- Mondi Plc
- Berry Global
- Tosaf Inc
- Sealed Air Corporation
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The oxygen scavenger masterbatch market contains:
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Introduction of Cesa ProTect by Clariant to Spur Opportunities
The launch of innovative packaging by prominent companies can create lucrative opportunities for the market during the forecast period. For instance, in October 2019, Clariant, a Swiss multinational specialty chemicals company, introduced a new oxygen scavenger under the brand name ‘Cesa ProTect’ for Polyster packaging. This new masterbatch is developed as a target to form Monolayer Polyethylene Terephthalate packaging. Oxygen scavengers masterbatch are used in synthesizing the packaging solutions to absorb oxygen from the surrounding and maintain the freshness, taste, and color of the food. Thus, the growing demand for packaged food due to people’s evolving lifestyle can bolster the growth of the market. Besides, the heavy demand for containers and jars to store food products and extend the products’ shelf life is expected to fuel the need for such containers. Nevertheless, the raw materials’ fluctuating prices are expected to retard the growth of the market in the forthcoming years.
- Flexible Packaging
- Rigid Packaging
- North America (U.S., and Canada)
- Europe (UK, Germany, France, Italy, and Rest of Europe)
- Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)
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Shifting Lifestyle of Consumers to Strengthen Market in North America
North America is expected to hold the largest share globally during the forecast period due to the increasing demand for packaged food products. The sedentary lifestyle of consumers expected to aid the expansion of the market in the region. Asia Pacific is expected to experience rapid growth due to the increasing demand from the food packaging industries, dairy, and others. The rising employment opportunities for women is expected to boost the adoption of packaged meat, poultry fish, and fruits and vegetables, which, in turn, can foster the growth of the market. Europe is expected to exhibit a considerable growth rate owing to the growing consumption of packaged meat and dairy products.
Oxygen Scavenger Masterbatch Industry Developments
- In October 2019:Clariant introduced a new oxygen scavenger under the brand name ‘Cesa ProTect’ for Polyster packaging. This new masterbatch is developed as a target to form Monolayer Polyethylene Terephthalate packaging.
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