Data Bridge Market Research analyses that the food grade lubricants market value, which was USD 0.32 million in 2021, is expected to reach the value of USD 0.49 million by 2029, at a CAGR of 5.1% during the forecast period.
Global Food Grade Lubricants Market Scope
The food grade lubricants market is segmented on the basis of base oil and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Base Oil
· Synthetic oil
On the basis of base oil, the food grade lubricants market has been segmented into mineral oil and synthetic oil. Synthetic oil has been further sub segmented into PAO (polyalphaolephins), PAG (polyalkylene glycol) and others (esters and silicones).
Application
· Food
· Beverages
· Pharmaceuticals and cosmetics
· Others
On the basis of application, the food grade lubricants market has also been segmented into food, beverages, pharmaceuticals and cosmetics and others. Food has been further sub segmented into bakery, sugar, dairy, meat, poultry, and sea food and others. Others has been further sub segmented into packaging, food grade lubricants blending, and food machinery manufacturing.
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Market Analysis and Size of Food Grade Lubricants
In many countries, NSF certification is becoming the industry standard for food-grade lubricant makers. Bio-based lubricants have gained traction as a viable alternative to petroleum-based lubricants in a variety of industries, including food and transportation. Animal fats or vegetable oils are used to make them. Natural oils are chemically changed by esterification, transesterification, and oxidation to create superior bio-lubricants.
Data Bridge Market Research analyses that the food grade lubricants market value, which was USD 0.32 million in 2021, is expected to reach the value of USD 0.49 million by 2029, at a CAGR of 5.1% during the forecast period. The “Food” segment's dominance can be ascribed to rising food safety concerns and the fast-growing food processing industry.
Food Grade Lubricants Market Regional Analysis/Insights
The food grade lubricants market is analysed and market size insights and trends are provided by country, base oil and application as referenced above.
The countries covered in the food grade lubricants market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Food Grade Lubricants Market Share Analysis
The food grade lubricants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to food grade lubricants market.
Some of the major players operating in the food grade lubricants market are:
· FUCHS (Germany),
· BP Plc (U.K.),
· Total (France),
· Petro-Canada Lubricants Inc. (Canada),
· Exxon Mobil Corporation. (U.S.),
· Klüber Lubrication München SE & Co. KG (Germany),
· SKF (Sweden),
· LANXESS (U.S.),
· Illinois Tool Works Inc. (US),
· Jax Industrial Lubricants (US),
· Brit Lube (UK),
· Clearco Products Co., Inc. (US),
· Freudenberg Group (Germany),
· HollyFrontier Corporation (US),
· Hydrotex Lube. (US),
· Interflon (India) PVT Ltd. (India),
· Lubriplate Lubricants Company. (US),
· Metalube. (UK),
· Dow (US),
· Royal Dutch Shell plc (UK)
Post COVID-19 Impact on Food Grade Lubricants Market
The recent outbreak of coronavirus has critically impacted the food grade lubricants market. Due to a disrupted supply chain and trade restrictions, the pandemic had a detrimental impact on the food grade lubricant business. Several countries established severe rules on the manufacturing of cosmetics, food, and beverages, among other things, during the early months of the pandemic.
On the brighter side, the changes in consumer buying habits and the use of food-grade lubricants are expected to help offset some of the losses.
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MAJOR TOC OF THE REPORT
· Chapter One: Introduction
· Chapter Two: Market Segmentation
· Chapter Three: Market Overview
· Chapter Four: Executive Summary
· Chapter Five: Premium Insights
· Chapter Six: food grade lubricants market
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