What is the global market size of the Food Grade Lubricants Market?

Global Food Grade Lubricants Market size was valued at around USD 368.3 million in 2021 and is poised to grow from USD 395.96 million in 2022 to USD 657.2 million by 2030, at a CAGR of 7.51% over the forecast period (2023–2030).

Food Grade Lubricants Market Size, Share, Growth Analysis, By Application(Food (Bakery, Confectionery, Dairy, Meat), By Form(Oil and Grease), By Type(Mineral, Synthetic and Bio-based), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in the Global Food Grade Lubricants Market?

The biggest source of North America's rising demand for food-grade lubricants is Mexico's quick industrialization. Mexico has risen to prominence as a manufacturing nation in the past ten years. Mexico is attracting attention as a new growing market that is following in the footsteps of the BRIC markets. With the food and beverage sector as its core, it keeps on growing steadily. Demand for food-grade lubricants is anticipated to be driven by the growth of bio-based goods in the U.S. as a result of the region's strict regulatory standards against environmental deterioration. The U.s has been using high-quality food-grade lubricants with longer oil drain intervals for decades. This has led to lower consumption and improved efficiency.

Report ID: SQMIG15A2122 | Region: Global | Published Date: July, 2024
Pages: 184 | Tables: 99 | Figures: 77

Food Grade Lubricants Market Regional Insights

The biggest source of Asia Pacific rising demand for food-grade lubricants is China quick industrialization. China has risen to prominence as a manufacturing nation in the past ten years. China and India are attracting attention as a new growing market that is following in the footsteps of the BRIC markets. With the food and beverage sector as its core, it keeps on growing steadily. Demand for food-grade lubricants is anticipated to be driven by the growth of bio-based goods in the U.S. as a result of the region's strict regulatory standards against environmental deterioration. The U.s has been using high-quality food-grade lubricants with longer oil drain intervals for decades. This has led to lower consumption and improved efficiency.

Europe dominated the market for food-grade lubricants in 2021 with a 42.0% sales share. A CAGR of 7.3% is anticipated for the region between 2022 and 2028. Due to tight EPA and REACH regulations in most of Europe, manufacturers are now focusing on developing bio-based lubricants. The region's expansion of mineral-based products is predicted to face serious threats from the growing use of bio-based alternatives.

Food Grade Lubricants Market Report Snapshots

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Food Grade Lubricants Market size was valued at USD 395.96 million in 2022 and is poised to grow from USD 425.70 million in 2023 to USD 759.79 million by 2031, at a CAGR of 7.51% during the forecast period (2024-2031).

Industry participants are always concentrating on capacity expansion, establishing partnership agreements with distributors, and using many other operational approaches to get an advantage in the intensely competitive market environment. Producers use these strategies to engage with potential customers for their goods. Institutions offering a wide range of products for all application markets, such as Dow, Royal Dutch Shell, and Chevron Corporation, for instance, dominate the market. 'ExxonMobil Corporation (US) ', 'Royal Dutch Shell plc (Netherlands) ', 'TotalEnergies S.E. (France) ', 'Fuchs Petrolub AG (Germany) ', 'The Lubrizol Corporation (USA) ', 'Kluber Lubrication München SE & Co. KG (Germany) ', 'Petro-Canada Lubricants Inc. (Canada) ', 'Chevron Corporation (US) ', 'BP plc. (UK) ', 'Croda International Plc (US) ', 'SKF AB (Sweden) ', 'The Chemours Company (USA) ', 'Schaeffer Manufacturing Co. (US) ', 'H1 Food Grade Lubricants (Germany) ', 'Clearco Products Co., Inc. (US) ', 'Matrix Specialty Lubricants BV (Netherlands) ', 'JAX Inc. (US) ', 'Haynes Manufacturing Company (Indiana) ', 'Roc-Corbett & Associates, Inc. (US) ', 'Bel-Ray Company, LLC (USA) ', 'Others. '

To ensure that their products are suitable for human consumption, food and beverage processing businesses are required by tight laws to utilize lubricants of the appropriate food grade.

With growing concerns about the environmental impact of industrial activities, there is a rising demand for biodegradable and sustainable lubricants in the food and beverage industry. This trend is expected to drive the growth of bio-based food grade lubricants in the coming years.

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Food Grade Lubricants Market Size, Share, Growth Analysis, By Application(Food (Bakery, Confectionery, Dairy, Meat), By Form(Oil and Grease), By Type(Mineral, Synthetic and Bio-based), By Region - Industry Forecast 2024-2031

Food Grade Lubricants Market Regional Insights

Food Grade Lubricants Market Report Snapshots

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