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Oxygen scavengers Master batch often called as oxygen absorber additives that are used in synthesizing the packaging solutions to absorb oxygen from surrounding and maintain the freshness, taste, and color of the food. The products absorb the oxygen from the surrounding and prevent oxidation of the food further preventing it from degrading.
Growing demand for packaged food from all over the world attributed to the changing lifestyle is expected to create positive impact on the market. Additionally, the containers made from PET are spill proof, tamper proof, resealable and reusable. The demand for containers and jars to store food products that maintain freshness and extend the shelf life of the products is expected to boost the demand for such containers.
However, growth of the oxygen scavenger masterbatch market is expected to limit due to the fluctuating prices of the raw materials which often cause fluctuations in the prices of end-products.
Key Market Driver -
Increasing consumption of packaged foods.
Key Market Restraint -
Volatility of the prices of raw materials.
Based on product, the market is segmented into organic and inorganic products. Based on application, the market is segmented into flexible packaging, rigid packaging, and other.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global oxygen scavenger masterbatch market consists of global & regional players operating. Some of the key players in the market include NanoBioMatters, Clariant, Polyone, Mitsubishi Gas Chemical Company, Inc, Mondi Plc, Berry Global, Tosaf Inc, Sealed Air Corporation, and Others.
The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for the oxygen scavenger masterbatch market attributed to the increasing demand for packaged food products. The fast-paced lifestyle of consumers is creating demand for packaged food products. Asia Pacific is estimated to show significant growth due to the increasing demand from food packaging industries, dairy, and others. The increase in employment opportunities for women is leading in adoption of packaged meat, poultry fish and fruits and vegetables substantially increasing the demand for these products. Europe is estimated to show considerable growth. Latin America and Middle East and Africa are expected to show considerable growth by the end of the forecast period.
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