The SNS Insider report indicates that the Food Grade Lubricants Market Size was valued at USD 3.63 billion in 2022, expected to reach USD 6.48 billion by 2030, growing at a CAGR of 7.5% over the forecast period 2023-2030.The rising consumption of food products such as dairy, meat, and drinks is expected to boost the global market growth of Food Grade Lubricants in the upcoming years. Over the projected period, the growing demand for food-grade greases in various industries, coupled with food safety concerns, is predicted to positively impact the market's growth.The food grade lubricants market is experiencing robust growth driven by stringent food safety regulations and the increasing demand for safe and non-toxic maintenance solutions in the food and beverage industry. These lubricants are specially formulated to meet the stringent requirements of food safety standards, ensuring they do not contaminate food products during processing, packaging, and handling.
Moreover, the food grade lubricants market is being propelled by advancements in lubricant technology and the shift towards environmentally friendly and sustainable products. Innovations in lubricant formulations, such as synthetic and bio-based options, are enhancing the performance and safety profile of these products. Synthetic food grade lubricants, for instance, offer superior thermal stability, oxidative resistance, and longer service life, making them ideal for high-temperature and high-load applications in food processing machinery. Bio-based lubricants, derived from renewable resources, align with the growing trend towards sustainability and eco-friendly manufacturing practices. These lubricants not only reduce environmental impact but also provide effective lubrication solutions that comply with stringent food safety standards. As the food and beverage industry continues to prioritize safety, efficiency, and sustainability, the food grade lubricants market is poised for sustained growth, driven by technological advancements and evolving regulatory and consumer demands.
Request for Sample Report @ https://www.snsinsider.com/sample-request/1703
KEY PLAYERS
- Chevron Corporation
- Kluber SKF
- Exxonmobil Corporation
- Total Energies SE
- BP plc.
- Lubrication Munchen SE & Co. KG
- Petro-Canada Lubricants Inc.
- FUCHS Petrolub AG
- The DOW Chemical Company And Illinois Tools Works Inc.
- other players.
Market Report Scope:
Food-grade lubricants, essential in the food, beverages, and pharmaceutical industries, ensure safe production by adhering to stringent regulations. Leading players use food-grade lubricants to avoid product recalls, ensuring brand quality. The market growth is further propelled by the adoption of bio-based lubricants, derived from sustainable sources like vegetable and grain-based oils, aligning with the industry's evolving needs.
Market Analysis:
The increasing consumption of processed food and beverages, particularly in emerging nations, is a significant driver for the Food Grade Lubricants Market. Food safety concerns in developing countries further fuel market growth. The food-grade lubricants market growth is driven by bio-based lubricants and the growing availability of food-grade lubricants in aerosol form.
Segment Analysis:
By Type
- Synthetic Oil
- PAO
- PAG
- Others
- Mineral Oil
- Bio-based
By Application
- Food
- Bakery
- Dairy
- Sugar
- Meat, poultry & seafood
- Animal feed
- Others
- Beverages
- Pharmaceuticals & Cosmetics
- Others
By Form
- Oil
- Grease
By Grade
- H1
- H2
- H3
In the Food Grade Lubricants Market, the mineral product segment dominated with over 62% revenue share due to its cost-effectiveness and suitability for various applications. H1 lubricants led in the grade segment in 2022, offering quality products with the use of heavy metals and zinc. The food application segment held the majority share (63%) in 2022, driven by increased consumption in various food-related industries.
Key Regional Development:
North America is expected to dominate the food-grade lubricant market, led by the U.S., which adheres to strict FDA laws. The region's major beverage, pharmaceutical, and cosmetic companies widely adopt food-grade lubricants. The growth of bio-based products in the U.S. aligns with stringent environmental regulations, driving the demand for food-grade lubricants.
Key Takeaways:
- Rising demand for processed food fuels the global Food Grade Lubricants Market.
- Stringent regulations and food safety concerns drive the adoption of food-grade lubricants.
- North America leads in market share, driven by the U.S.'s adherence to strict FDA laws.
- Bio-based lubricants, derived from sustainable sources, are shaping the future of the market.
Recent Developments:
- In September 2023, Petro-Canada enhanced its PURITY FG with MICROL product line, introducing PURITY FG2 with MICROL MAX grease, meeting industry standards and fitting perfectly in HACCP and GMP plans.
- In March 2023, ExxonMobil announced a significant investment in a lubricant manufacturing plant in Raigad, Maharashtra, reinforcing its commitment to the industry.
About US:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Contact Us:
Akash Anand – Head of Business Development & Strategy
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
