Food Grade Lubricants Market is estimated to be US$ 487.2 Million by 2032 with a CAGR of 7.5% over the forecast period (2022-2032)

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Published Date: May 2023

Food-grade lubricant is the name given to any industrial lubricant that is considered safe for casual contact with objects used by humans or animals, as long as it does not exceed a certain concentration. Items that require food-grade lubricants for production include food and beverages.

Increasing applications in the food and beverage industry and increasing food safety regulations are expected to drive the market growth over the forecast period. The changing lifestyle of people has changed the consumer demand for processed canned foods. Due to their busy schedules, lack of time to prepare home-cooked meals and rapid urbanization, the demand for processed food is increasing significantly, especially in developing countries. However, food-grade lubricants are used in the manufacturing units of processed foods, thus, increasing demand for processed foods is expected to foster the market.

The report “Food Grade Lubricants Market, By Product Type (Synthetic Oil, Mineral Oil, Bio-Based), By Form (Oil and Grease), By Application (Food (Bakery, Dairy, Sugar, Meat, Poultry & Seafood, Animal Feed, Others), Beverages (Carbonated Soft Drinks, Fruit Beverages, Sports Drinks, Alcoholic Beverages, Others), Pharmaceuticals and Cosmetics, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends Analysis and Forecast till 2032 “

Key Highlights:

In January 2022, Petro-Canada announced the launch of PURITY FG synthetic compressor fluid, a new addition to their extensive line of food-grade lubricants, greases and specialty fluids. PURITY FG Synthetic Compressor Fluid is a synthetic PAO-based product, scientifically formulated with selective additives and proven to protect against wear, oxidation, rust and corrosion while also providing a wider temperature performance.
In February 2022, leading lubricant manufacturer, METALUBE is pleased to announce the launch of its next generation food safe NSF registered high-performance chain oil. The new products are specifically designed with high thermal stability, reduced carbon and varnish deposits and optimized performance-enhancing additives.

Analyst View:

The major factors driving the market are food safety regulations and increasing usage in various industries. As such, food grade lubricants are synthetic lubricants specifically designed for industrial machinery where accidental contact between food and lubricants may occur. And also lubricants reduce friction and prevent premature wear of machinery, good lubricants ensure less maintenance, lower energy consumption, increased productivity and longer life of assets.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Food Grade Lubricants Market, By Product Type (Synthetic Oil (PAO, PAG, Others), Mineral Oil, Bio-Based), By Form (Oil and Grease), By Application (Food (Bakery, Dairy, Sugar, Meat, Poultry & Seafood, Animal Feed, Others), Beverages (Carbonated Soft Drinks, Fruit Beverages, Sports Drinks, Alcoholic Beverages, Others), Pharmaceuticals and Cosmetics, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Food Grade Lubricants Market accounted for US$ 282.9 Million in 2022 and is estimated to be US$ 487.2 Million by 2032 and is anticipated to register a CAGR of 7.5%. The Food Grade Lubricants Market is segmented based on Product Type, Form, Application and Region.

Based on Product type, the Food Grade Lubricants Market is segmented into Synthetic Oil (PAO, PAG, Others), Mineral Oil, Bio-Based.
Based on form, the target market is classified into Oil and Grease.
Based on application, the target market is classified into Food (Bakery, Dairy, Sugar, Meat, Poultry & Seafood, Animal Feed, Others), Beverages (Carbonated Soft Drinks, Fruit Beverages, Sports Drinks, Alcoholic Beverages, Others), Pharmaceuticals and Cosmetics, Others.
By Region, the Food Grade Lubricants Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Food Grade Lubricants Market:

The prominent players operating in the Food Grade Lubricants Market includes, ExxonMobil Corporation, TotalEnergies SE, Petro-Canada Lubricants Inc., DOW Chemical Company, Chevron Corporation, Royal Dutch Shell, Lanxess Corporation, BP Plc, and SKF GmbH, IIIinois Tools Works Inc, Kluber Lubrication Munchen SE & Co. KG. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period