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2021
Food Grade Lubricants Market

Food Grade Lubricants Market

by Type, (Mineral Oil and Synthetic), Form (Oil and Grease), and Application (Food, Beverages, Pharmaceuticals, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A12491
Pages: 250
Jul 2021 | 2578 Views
Author(s) : Himanshu Vig , Roshan Deshmukh
Tables: 125
Charts: 56
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COVID-19

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The global food grade lubricants market size was valued at $230.4 million in 2020, and is projected reach $406.6 million by 2030, registering a CAGR of 5.9% from 2021 to 2030. The mineral oil segment led in terms of the food grade lubricants market share in 2020 and is expected to retain its dominance during the forecast period.

Food grade lubricants perform same functions as any other lubricant, including but not limited to providing protection against friction, corrosion, wear, oxidation, dissipating heat power transmission as well as providing a sealing effect in some cases. However, food grade lubricants are considered safe for incidental contact with items that are consumed by animals or humans, as long as they do not exceed a certain concentration. Food grade lubricants are widely used in food, beverages, and pharmaceutical industries.

Food-Grade-Lubricants-Market-2021-2030

Governments of developed countries enforce stringent rules regarding safe production of food, beverages, cosmetics, and pharmaceuticals. As a result, engaged players in the associated industries extensively use food grade lubricants while product processing. The Food and Drug Administration (FDA) in the U.S. and the European Food Safety Authority (EFSA) in Europe are some of the most prominent governmental regulatory authorities having stringent food safety and quality laws. To avoid any product recall and follow government guidelines, the players operating in the industries use food grade lubricants in the machineries associated with processing of consumable products. Furthermore, to build a brand by portraying highest quality food standard and to avoid tarnishing of brands due to product recalls, leading players in the food & beverage industries use food grade lubricants. Stringent regulations and brand positioning augment the food grade lubricants market growth.

Segment review

The global food grade lubricants market is segmented on the basis of type, form, application, and region. Based on type, the global market is bifurcated into mineral oil and synthetic. By form, the market is divided into oil and grease. Based on application, the global market is studied across food, beverages, pharmaceuticals, and others. Region-wise, the market is also analyzed across North America, Europe, Asia Pacific, and LAMEA.

By type, food grade lubricants are classified into synthetic and mineral oil. Mineral oil lubricants are made from petroleum-based white oil while synthetic lubricants are much more processed and chemically altered form of white oil or silicone. Mineral oil food grade lubricants are most commonly used as they are cheaper and readily available. The synthetic segment is expected to gain market share during the forecast period, owing to its superior performance characteristics compared to its counterparts.

Food Grade Lubricants Market
By Type

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Synthetic segment would exhibit the highest CAGR of 7.1% during 2021-2030.

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By form, food grade lubricants can be bifurcated into oil and grease. Lubricant oil is a viscous liquid that is applied to machinery to reduce friction and wear & tear of the machinery. It is used for applications that require higher level of penetration and has no risk of excessive leakage. Food grade lubrication grease is a semi-solid lubricating agent. It is useful for application in components that are not very intricate and do not require very deep penetration. It can be used in open to air systems as well.

Food Grade Lubricants Market
By Form

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Oil segment would exhibit the highest CAGR of 6.0% during 2021-2030.

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By application, the food grade lubricants market is segmented into food, beverages, pharmaceuticals, and other industries. The food industry leads in terms of market share and is expected to retain its dominance, owing to strict food safety regulations across the developed and developing countries.

Food Grade Lubricants Market
By Application

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Food segment would exhibit the highest CAGR of 6.9% during 2021-2030.

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Region-wise, the food grade lubricants market is studied across North America Europe, Asia-Pacific, and LAMEA. North America is expected to lead in terms of market share in 2021; however, Asia-Pacific is poised to grow with the highest CAGR during the forecast period. Expansion of food processing industry in the Asia-pacific region to provide lucrative opportunities for the engaged stakeholders.

The report focuses on the growth prospects, restraints, and opportunities of the global food grade lubricants market. The study provides Porter’s five forces analysis to understand the impact of various factors such as competitive intensity of competitors, bargaining power of suppliers, threat of substitutes, threat of new entrants, and bargaining power of buyers of the food grade lubricants market.

Food Grade Lubricants Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific region would exhibit the highest CAGR of 7.5% during 2021-2030.

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Some of the major players profiled in the food grade lubricants market analysis include Brit-Lube, Clearco Products Co., Inc, Freudenberg Group, Fuchs Group, HollyFrontier Corporation, Hydrotex Lube, Interflon, Lubriplate Lubricants Company, Metalube, and SKF Group. Other prominent players analyzed in the report are BP PLC, International Products Corporation, David Weber Oil Co, Exxon Mobil Corporation, Total Specialties, Condat, and Repsol.

COVID-19 Impact Analysis

  • The food grade lubricants industry is negatively impacted by the pandemic, owing to disruption in supply chains.
  • The first few months of the COVID-19 pandemic had also disrupted the production of food, beverages, and cosmetics, amongst others.
  • However, with changing dynamics regarding food safety, the adoption of food grade lubricants is expected to witness robust growth in the upcoming years.

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging food grade lubricants market trends and opportunities.
  • The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing food grade lubricants market opportunities in the market.
  • The food grade lubricants market forecast is offered along with information related to key drivers, restraints, and opportunities.
  • The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Food Grade Lubricants Market Segments

By Type

  • Mineral Oil
  • Synthetic

By Form

  • Oil
  • Grease

By Application

  • Food
  • Beverages
  • Pharmaceuticals
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • ASEAN
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 

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With growing eminence of food safety and standards, the necessity of food grade lubricants has increased manifolds. Changing consumer behavior regarding food safety and standards, owing to COVID-19 pandemic has further resulted in increased demand for high-quality products translating into increased demand for food grade lubricants. Nevertheless, the market is expected to witness the introduction of new players along with innovative solutions for lubrications. With novel innovations, recent years have witnessed increased demand for synthetic lubricants having superior properties as compared to its counterparts such as mineral lubricants.

Attributed to stringent regulations regarding food processing in North America and Europe, high demand for food grade lubricants has been witnessed presently. However, developing countries of Asia-Pacific are expected to witness high traction in the coming years, with growing awareness, strict government regulations, and expansion of food & beverages industry in the region.

With existing religious identities, and increasing consumer perception about kosher and halal food as safer, the demand for such food has gained steadily. To cater to such food requirements, engaged stakeholders in the industry are now venturing toward halal and kosher certified food grade lubricants. With new market niche, the players are diversifying their product offerings and untapped new opportunities present in the market.

 

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FREQUENTLY ASKED QUESTIONS?

A. The food grade lubricants market and is projected reach $406.6 million by 2030.

A. The forecast period in the food grade lubricants market report is 2021 to 2030.

A. The base year calculated in the food grade lubricants market report is 2020.

A. Leading players which hold significant market share in the food grade lubricants market includes Fuchs Group, HollyFrontier Corporation, Hydrotex Lube, SKF Group.

A. Synthetic food grade lubricants is the most influencing segment growing in the market.

A. Mineral segment holds the maximum market share of the food grade lubricants market.

A. Company profile has been selected on the basis of revenue, geographical presence and key developments.

A. The global food grade lubricants market was valued at $230.4 million in 2020.

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