The Global Food Grade Lubricants Market is valued at USD 347.6 Million in 2022 and is expected to reach USD 554.8 Million by 2029 with a CAGR of 6.91% over the forecast period.
Global Food Grade Lubricants Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Increasing applications in the food and beverage industry, and rising consumption of food products are major factors anticipated to drive the growth of the Global Food Grade Lubricants Market within the Forecast Period.
The food grade lubricants are used for the same practical functions as any other lubricant provide such as protection against wear, dissipate heat and transfer power, to deliver a sealing effect in some cases in short, they principally used to keep food processing gear running smoothly. These food grade lubricants must also fulfill with food/health and safety regulations as well as be physiologically inert, tasteless, odourless and internationally approved. The United States Department of Agriculture (USDA) created the original food-grade designations H1, H2 and H3 and the approval of a new lubricant and its registration in one of these categories depends on the list of the ingredients. Food lubricants have several applications in food safety, beverage and pharmaceutical industries.
The Covid-19 pandemic has had a mixed impact on the global food grade lubricants market. The market witnessed a decline in demand in 2020 due to the disruptions in the global supply chain, reduced manufacturing activities, and decreased demand from the food and beverage industry. However, the market is expected to recover in the coming years due to the growing demand for processed foods and increasing concerns about food safety and hygiene. The demand for food grade lubricants is also expected to increase due to the expansion of the food and beverage industry in emerging economies. The pandemic has also led to increased awareness about the importance of maintaining hygiene in the food and beverage industry, which is expected to drive the demand for food grade lubricants that are safe and compliant with food safety regulations. However, the market is also facing challenges such as the increasing competition from non-food grade lubricants and the availability of low-cost alternatives, which may affect the growth of the market in the long run.
The global food grade lubricants market is segmented on the basis of lubricant grade type, base oil type, end users and region & country level. On the basis of lubricant grade type, the global food grade lubricants market is segmented into H1, H2, H3 and other. On the basis of base oil type, the market is segmented into synthetic oil, mineral oil and bio-based. On the basis of end users, the market is segmented into food & beverage, beverages industry, pharmaceutical, cosmetics, edible oil and others.
The regions covered in global food grade lubricants market report are North America, Europe, Asia-Pacific, Latin America, and Rest of the World. Based on country level, the market of global food grade lubricants market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, Southeast Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some of the key players in the global food grade lubricants Market are -
One of the major factors driving the growth of the global food grade lubricants market is the increasing applications in food and beverage industry. H1 food grade lubricants are used in food and beverage industries where contact with food could take place, such as food processing equipment as anticorrosion protective films which allows for the elimination of potential contamination. H2 food grade lubricants are used for machinery that doesn’t come in direct contact with food, such as a forklift. It is used in areas where there is no possibility of direct contact with food, beverages or pharmaceutical product and H3 soluble oils are applied to equipment that will directly contact food, usually for the purpose of cleaning and preventing rust. These tremendous applications of food grade lubricants and launch of safe food grade lubricants driving the market growth. For instance; in February 2022; food-safe NSF registered chain oils launched by the METALUBE.
In addition, rising number of research and development activities in this field are also boosting the market growth. Product launches, expansion and R & D spending activities by the players are fostering the growth to the market. For instance; as per the news published on December 2nd, 2019; Texas-based Exxon Mobil Corporation, oil and gas company, planned to set up a lube blending plant in India to expand lubricants segment.
Moreover, rising consumption of food products is another factor driving the market growth. Consumption of food products such as dairy, meat, and drinks is rising which is further increasing demand for food grade lubricants. However, the lack of awareness regarding the benefits of using food-grade lubricants may hinder the growth of the global food grade lubricants market. In spite of that, the development of eco-friendly lubricants, such as bio-based lubricants and biodegradable lubricants, is expected to create opportunities for the food grade lubricants market.
Asia Pacific is expected to witness a significant growth in the global food grade lubricants market due to increasing awareness about food safety, government regulations regarding food safety and increasing investments across food grade lubricant industries in this region. In this region, the countries in such as India and China are rapidly growing markets for food grade lubricants due to increasing awareness about food safety. In addition, increasing investments by players in this region also augmenting the market growth in this region. For instance; as per the news published on February 8th, 2018 Castrol India Limited Board will spent INR 140 crore (USD19.8 million) to increase the capacity of its state-of-the-art Silvassa lubricant blending plan.
North America is the fastest growing region in the global food grade lubricant market due to increasing consumption of processed food, awareness about food safety and low price of raw materials in this region. For instance; the total composition of the average U.S. diet has shifted towards a more processed diet in 2020 as per the to a new study by researchers at NYU School of Global Public Health.
FUCHS Acquired Lubricants Business of Welponer SRL, Italy
On October 1st, 2020; FUCHS strengthened specialty business position by acquisition of the lubricants business of WELPONER SRL, Italy. Customer base and the workforce was included in this acquisition noted by the company. Bundling of sales channels makes FUCHS LUBRIFICANTI S.P.A. an confident partner for all lubricants and related specialties in Italy said by the company.
|2016 - 2021
|2022 - 2029
|Market Size in 2022:
|USD 347.6 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2029:
|USD 554.8 Million
|Tables, Charts & Figures:
|Matrix Specialty, Lubricants BV, Dow, Petro-Canada Lubricants Inc., The Chemours Company, ExxonMobil Corporation, Kluber Lubrication, The Lubrizol Corporation, CONDAT Group, Metalube Ltd., and others
|By Lubricant Grade, By Base Oil Type, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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