Food Grade Lubricants Market Size & Share Forecast, 2028 | UnivDatos

According to UnivDatos’ research report “Food Grade Lubricants Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the increasing demand for bio-based food grade lubricants coupled with the growing applications in the food & beverages industry.

The Food Grade Lubricants Market is expected to grow at a steady rate of around 7% owing to the increasing consumption of processed food and beverages. Major companies in the market offer food-grade lubricants for the lubricant industry with technologically advanced features. For instance, in October 2020, FUCHS Lubritech GmbH strengthens the specialty business of lubricants by signing an agreement to acquire Welponer SRL, Italy, and integrate it into its subsidiary names FUCHS Lubrificanti S.P.A.

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Food Grade Lubricants is the name given to any industrial lubricant that is considered safe for incidental contact with items that may be consumed by humans or animals if it does not exceed a certain concentration. In recent years, the demand for food-grade lubricants has risen dramatically due to the growing demand in the food and beverages industry. Many major players are also contributing to the growth of the market. For instance, Petro-Canada on January 28 announced the launch of PURITY FG Synthetic Compressor Fluid, a new addition to their extensive line of food-grade lubricants, greases, and specialty fluids.

Based on type, the market is segmented into mineral oil, synthetic oil, and bio-based oil. The mineral oil category is to witness a higher CAGR during the forecast period. As they are suitable for machinery such as hydraulic systems that operate at temperatures between 120°F and 150°F. Food-grade mineral oil lubricants are inexpensive and used because they are readily available and cheaper. Furthermore, Food-grade mineral oil lubricants have superior performance characteristics compared to other segments which will add growth to the market.

Based on end-user, the food-grade lubricants market has been classified into food & beverages, cosmetics, pharmaceuticals, and others. The food & beverages category is to witness higher adoption of food-grade lubricants during the forecast period. This is mainly because they do not pose any physiological threat or affect the odor and taste of finished products from these industry verticals. Furthermore, many global consumer demands for food products such as oilseeds, meat, dairy, and beer have increased significantly. In addition, food & beverage processing machinery faces an increased labor force, which often leads to overuse and wear and tears on industrial equipment. Hence, the food & beverage industry is increasing the production of food-grade lubricants that help maintain this industrial equipment.  

APAC to witness extensive growth

For a better understanding of the market adoption of the food grade lubricants industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the high economic growth rate coupled with heavy investment in industries such as food & beverage, pharmaceutical and machinery are driving the growth of the market. Moreover, low raw material prices and availability of cheap labor or lowering overall manufacturing costs are further expected to support the market growth. In addition, expanding the food processing industry in the APAC region to provide lucrative opportunities for involved stakeholders is driving the growth of the market in the region. Furthermore, awareness of food safety grows in countries such as India and China, and governments in these countries may introduce food safety laws which will increase the growth of the food lubricants market. Hence, all these factors are boosting the growth of the APAC region market.

According to UnivDatos, the key players with a considerable market share in the food grade lubricants market are Shell plc, TotalEnergies SE, ExxonMobil Corporation, Petro-Canada Lubricants Inc., Chevron Corporation, BP plc., Fuchs Petrolub SE, AB SKF, Kluber Lubrication Munchen KG, Illinois Tool Works Inc.

“Global Food Grade Lubricants Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.     By Type (mineral oil, synthetic oil, and bio-based oil)

2.     By End-User (food & beverages, cosmetics, pharmaceuticals, others)

3.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.     By Company (Shell plc, TotalEnergies SE, ExxonMobil Corporation, Petro-Canada Lubricants Inc., Chevron Corporation, BP plc., Fuchs Petrolub SE, AB SKF, Kluber Lubrication Munchen KG, Illinois Tool Works Inc)

Key questions answered in the study:

1.     What are the current and future trends of the global food grade lubricants industry?

2.     How the industry has been evolving in terms of type and end-user?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global food grade lubricants industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global food grade lubricants suppliers across various region and countries?

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