Oxygen Scavenger Masterbatch Market 2020 Covid-19 Impact and Future Growth
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Increasing consumer inclinations toward meat and dairy products across the globe is anticipated to drive the oxygen scavenger masterbatch market size in the upcoming years. The meat and dairy products are highly susceptible to deterioration in a very less time of exposure to oxygen. Owing to the highly consumable food items, meat and dairy products require proper packaging to eliminate the deterioration of food quality. The integration of oxygen scavengers while packing these food items reduces the risk of food quality deterioration, and thereby increases the shelf life.
The rising trend of active & intelligent packaging for the food and beverages industry will influence the oxygen scavenger masterbatch market growth. The global active & intelligent packaging industry valued USD 4.5 billion in 2018 and is anticipated to register considerable growth rate over 2019-2025 Change in consumer lifestyles and eating habits within both emerging and developed countries will necessitate innovative packaging demand for food & beverages sector.
In terms of application, the Oxygen scavenger masterbatch market is bifurcated into flexible and rigid packaging. Flexible packaging is experiencing high demand as the packaging offers great convenience due to weight reduction benefits. This is resulting in wide acceptance of the product in various end-use sectors. Flexible packaging segment is likely to account for 75% of the industry share throughout the next few years.
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Between 2019 and 2030, the global demand growth for milk and milk products is anticipated to be three times the level of current U.S. milk production. Currently, about 876 million tons of milk are produced globally with EU, India, and Oceania among the top producers. Cheese consumption in the U.S. is expected to continue to increase between 2017 and 2022. By 2030, milk production and demand is forecasted to increase in total by 35%, simultaneously expanding oxygen scavenger masterbatch market size for food packaging.
Company profiled in the oxygen scavenger masterbatch market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Oxygen scavenging masterbatch (OSMB) suppliers
2. Clariant AG
3. Albis Plastic GmbH
4. Henkel AG & Co.
6. Gabriel-Chemie Gesellschaft GmbH
8. Tosaf Inc.
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