Increasing demand for meat & dairy products around the globe will propel oxygen scavenger masterbatch demand by 2025. Presence of oxygen in the perishable food products have been found to negatively affecting the packaged food shelf life. These trends are driving specialty masterbatch demand in food packaging sector. Oxygen absorber masterbatch significantly reduces oxygen content within the packaging products and helps in extending life of packaged food. Growing meat & dairy products 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 food and beverages packaging sector across the world. Some of the key trends includes incorporating active and intelligent packaging in packaged food and beverages. Oxygen absorber additives are utilized in active and intelligent packaging applications to remove oxygen present within 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 2025.
Organic oxygen absorber additives will be growing at approximately rate of 8% by 2025. Growing research & development activities in order to optimize performance of organic products will create segment's growth by 2025. Inorganic oxygen scavenger masterbatch will have the significant share throughout the study period due to its wide acceptability in the commercial applications.
On the basis of application, the market is segregated into flexible and rigid packaging. Flexible packaging segment will account for an approximate share of 75% throughout the study period. These packaging offers great convenience and weight reduction benefits to the end-users, which also signifies its wide acceptance in the industry.
Meat, poultry & fish segment will account for an approximate share of 35% by 2025. Growing concerns over lipid oxidation and bacterial growth in these food products will drive oxygen absorbers additive demand by 2025. Snacks & confectionaries will also be a key end-user segment and will hold approximately one-fifth share of OSMB market by 2025. Rising concerns over deterioration of snacks & confectionaries due to presence of oxygen, along with increasing demand for baked and savory snacks will drive industry growth by 2025.
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Asia Pacific oxygen scavenger masterbatch market for food packaging will grow at an approximately 6% rate by 2025. Rising demand for the packaged food items in emerging countries will boost oxygen absorber masterbatch demand in Asia Pacific.
Oxygen scavenger masterbatch market for food packaging industry share is extremely competitive, with numerous players. The main players include, Albis Plastic, Tosaf, Clariant NanoBioMatters, Gabriel Chemie, and Henkel.