Home Press Releases Food Grade Lubricants Market Size Worth $607.11 Million By 2030 | CAGR: 7.1%

Food Grade Lubricants Market Size Worth $607.11 Million By 2030 | CAGR: 7.1%

The global food grade lubricants market size is expected to reach USD 607.11 million by 2030, according to a new study by Polaris Market Research. The report “Food Grade Lubricants Market Share, Size, Trends, Industry Analysis Report, By Type (Mineral Oil and Synthetic); By Form; By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into the current market dynamics and provides analysis on future market growth.

 

The bio-based food-grade lubricants are expected to grow in the market in the coming years. Most food-grade lubricants are manufactured with the base of white oil, a product obtained from the distillation of petroleum. The use of petroleum for lubricant production is neither sustainable nor will it be feasible in the long run.

 

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As a result, research is being conducted on the usage of vegetable and grain-based oil as a base for manufacturing emollients used in the F&B industry. These oils are natural, with fewer additives added during the production of the emollients.

 

Raw materials used for the production of bio-based lubricants resources are renewable, much more sustainable, and environment-friendly. The use of bio-based lubricant in the food grade lubricant will result in increased adoption from environmentally conscious companies, thus providing lucrative opportunities in the industry.

 

Machinery used in the F&B industry undergoes a lot of wear and tear due to extreme temperatures and high utility rates. A lot of the machinery comes in direct contact with the beverages being produced, so the lubricants used in the machinery have to be completely consumables safe while also being highly durable.

 

Processing is done using chemical components and additives that help make the emollients more resistant to extreme operating environments and can also reduce the level of toxicity. These properties and advantages of synthetic lubricants are prominent factors for increased adoption in the industry.

 

Based on form, food-grade lubricant grease is a semi-solid, paste-like, oily, and sticky substance. It is non-toxic and can be synthetic or natural. It is used for parts of the machinery that are mostly in the open where there is a fear of leakage. It is very useful for applications on chains and conveyor belts, as it sticks to them and provides lubrication for very long periods of time. Therefore, improvement in quality and reduction in prices can further provide new growth opportunities in the industry.

 

Food Grade Lubricants Market Report Highlights

  • Mineral oil segment accounted for the largest market share in 2021 under type
  • Oil segment is expected to be the fastest growing segment during the forecast period.
  • The pharmaceuticals segment is expected to have a substantial growth during the forecast period. Growing prevalence of myriad of diseases has bolstered the global production of medicines by pharmaceutical industries.
  • North America region will lead the global food grade lubricant market by 2030 The global market is highly competitive owing to the existence of large market players with global presence including include BP PLC, Brit-Lube, Clearco Products Co., Inc, Condat, David Weber Oil Co, Exxon Mobil Corporation, Freudenberg Group, Fuchs Group.

 

Polaris Market Research has segmented the food grade lubricants market report based on type, form, application, and region:

 

Food Grade Lubricants, Type Outlook (Revenue – USD Million, 2018 – 2030)

  • Mineral Oil
  • Synthetic

Food Grade Lubricants, Form Outlook (Revenue – USD Million, 2018 – 2030)

  • Oil
  • Grease

Food Grade Lubricants, Application Outlook (Revenue – USD Million, 2018 – 2030)

  • Food
  • Beverages
  • Pharmaceuticals
  • Others

Food Grade Lubricants, Regional Outlook (Revenue – USD Million, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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