Food Grade Lubricants Market Expected to Reach $406.6 Million by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Food Grade Lubricants Market by Type, Form, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” 

The 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.

Food grade lubricants in the form of aerosols and spray-able foams are very easy to use and effective. It has made the adoption of such types of lubricants more common in the food & beverages industry. Applying regular lubricating oils and greases can sometimes become difficult. That is due to the fact that there are some small spaces and tough to reach areas in machines that are very difficult to access. Accessing these areas with long straw-like nozzles that are attached to spray cans is much easier and much more convenient. The lubricating foam also sticks better to the machine parts, reducing the risk of leakage, and providing better protection to the machines. It is also possible to cover more area per application if the lubricant is sprayed on machines. It saves a lot of time and effort, which reduces the downtime in factories. Ease of applicability, better performance, and time-saving are some of the top factors leading to the use of aerosols and foam food grade lubricants, thereby driving the food grade lubricants market growth.

Synthetically made lubricants have a lot of advantages over mineral-based food grade lubricants. These types of lubricants are expected to gain market share in the near future. Synthetic lubricants are specifically designed to be more durable. They have very long life and need not to be changed as frequently as mineral oil. Furthermore, these lubrications provide extensive protection from wear & tear to the machinery. These synthetic lubricants have gained huge traction, owing to superior performance in very low as well as very high operating conditions. Furthermore, these synthetic lubricants can also be customized as per customer requirements. With myriad of advantages of synthetic lubricants, including but not limited to improved viscosity, there is high wear resistance at elevated temperatures & stress levels. Innovation and introduction of new compounds to improve synthetic lubrication characteristics and customization provide new opportunities.

The grade food grade lubricants market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America led in terms of market share in 2020. However, Asia-Pacific is estimated to grow with significant growth rate during the forecast period, owing to growing food processing industries, increasing product cognizance, and changing food safety standards. Japan along with India and China is expected to witness increased adoption of food grade lubricants in the coming years.

The food grade lubricants market is heavily dependent on the food & beverages industry for its growth. The shutdown of the food processing and manufacturing plants in the early stages of the pandemic adversely affected the market. However, with easing restrictions subsequently and being classified as essential services, the global food grade lubricants industry recovered steadily.

Key Findings Of The Study

• Region-wise, North America dominates in terms of the food grade lubricants market share. However, Asia Pacific is anticipated to grow with the highest CAGR during the forecast period.
• Depending on type, the mineral oil segment led in terms of market share in 2020. However, the synthetic segment is expected to grow with robust CAGR in the upcoming years.
• On the basis of form, the oil segment accounted for more than four-fifths share of the market in 2020.
• As per application, the food segment is expected to gain market share by the end of the food grade lubricants forecast period.
• Demand for bio-based food grade lubricants is estimated to gain traction in the next few years.
• Halal and kosher certified food grade lubricants are now gaining cognizance in the food grade lubricants market.

Some of the major players profiled for 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.