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Food Grade Lubricants Market Segmentation By Form (Grease, Oil, Others); By Type (Synthetic and Mineral Oil); By Application (Beverage, Food, Pharmaceuticals, and Others) and by Regional Analysis (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast (2023 – 2028)

Published: March, 2023
ID: 12080
Pages: 150
Formats: report pdf report excel report power bi report ppt

Food Grade Lubricants Market Size, Growth (2023-2028)

Food Grade Lubricants Market value was projected to be US$231.4 million in 2022 and anticipated to reach US$ 403.6 million by the end of 2028, expanding at a CAGR of 5.6% during 2023 and 2028. 

Food Grade Lubricants Market

Market Overview:

The Global Food Grade Lubricants Market is projected to have the highest market revenue owing to the increasing expansion of pharmaceutical firms and food & beverage industries, Strict rules and regulations by the government, and the availability of food-grade lubricant in aerosol drives the global grade lubricants market share during the forecast period. Food grade lubricants are majorly used for the packaging and processing of food. These are used under low temperatures. Food grade lubricants perform several technical functions, including protection against wear, corrosion, friction, and oxidation. It is also compatible with rubber and other sealing materials.

Additionally, it provides a sealing effect in some cases. Food grade lubricants are industrial lubricants that must be tasteless, odorless, physiologically inert, and colorless. These are strictly regulated than any other lubricants since these are widely used in the food & beverage industries. These are also used in various parts, such as gear, compressor, chain, and hydraulic oils. Compared to other lubricants, food-grade lubricants are comprised of additives and base stocks. These are formulated depending on their various fields of application, including slow or fast running machinery at low or high temperatures, under high pressure, and in humidity. Some of these characteristics of food-grade lubricants make the global food-grade lubricants market hold the largest market share.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2028

Base Year

2022

Forecast Period

2023 - 2028

CAGR

5.6%

Segments Covered

By Form, Type, Application and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Exxon Mobil Corporation, BP PLC, Royal Dutch Shell Plc, Fuchs Petrolub SE, Kluber Lubrication Munchen SE & Co. KG , Petro-Canada Lubricants Inc and Others.

Food Grade Lubricants Market Drivers:

The increasing availability of food-grade lubricants in aerosol is one of the major drivers that help increase the global food-grade lubricants market size. Apart from this, the expansion of food & beverage sectors, pharmaceutical industries, and strict rules and regulations imposed by the government are also the predominant factors merged in boosting the global food grade lubricants market growth during the forecast period. Food grade lubricants comprise H1, H2, and H3 lubricants, in which H1 lubricants are used as anticorrosion protective films for sealing that are approved for incidental contact with food in the food packaging environment. Furthermore, H2 lubricants are supported in locations that do not carry lubricating parts that come into contact with food. In contrast, H3 lubricants are applied on rocks, conveyor belts for the prevention of corrosion. These are some of the factors that create new avenues of growth for the global food-grade lubricants market.

Food Grade Lubricants Market Restraints:

The minimum awareness of low products, complacent rules & regulations regarding manufacturing in emerging economies, product misconceptions, and petroleum-based food-grade lubricants degrades the global food grade lubricants market demand in the future. However, lubricants tend to degrade and may cause the growth of microbial that tends to restrain the global food grade lubricants market growth.

Recent Developments in the Food Grade Lubricants Market:

Fuchs Petrolub SE announced its acquirement of food-grade lubricants from Shell International Petroleum. Its acquisition also includes customer base, product technology, and the global CASSIDA brand. However, acquiring Shell makes Fuchs Petrolub SE expand its range in food-grade lubricants and become the largest supplier in the market.

Challenges in the Food Grade Lubricants Market:

The restrictions to the chemical composition of H1 lubricants to make them safe may distantly impact the performance of the components they lubricate, which adversely acts as a significant challenge for the global food-grade lubricants market. The chemical requirements for food-grade lubricants are typically not suitable for bio-degradable and eco-friendly lubrication materials. Less knowledge and lack of understanding of food-grade lubricants rules & regulations and the performance issue of H1 lubricants coupled with rising production and extreme operating conditions in food processing applications are some of the factors that may hinder the global food grade lubricants market in the upcoming years.

Food Grade Lubricants Market Segmentation:

By Form:

  • Grease
  • Oil
  • Others 

Based on form, the global food grade lubricants market is projected to grease, oil, and others. Lubricant oil form tends to dominate the global food grade lubricants market and continue its dominancy in the future. Lubricant Oil is a viscous liquid used for several applications that need a greater penetration level, with no risk of excessive leakage. It is also used to reduce friction and wear & tear in the machinery. Coming to grease, it is utilized in open to air systems and does not require deep penetration since it is a semi-solid lubricating agent.

 By Type:

  • Synthetic 
  • Mineral Oil 

Depending on the type, the global food grade lubricants market is segmented into synthetic and mineral oil. Mineral oil tends to hold the superiority level in the food grade lubricants market growth since it is made from petroleum-based white oil and is cheaper and readily available. However, synthetic type is projected to have a significant global food grade lubricants market share in the next six years due to its characteristics, including performance in temperature conditions, oxidation stability, and durability. 

By Application:

  • Beverage
  • Food
  • Pharmaceuticals
  • Others

Based on application, the food grade lubricants market is segmented into beverage, food, pharmaceuticals, and others. Among these applications, the Food industry tends to hold a significant dominance in the global food grade lubricants market due to the increasing growth of food processing firms and stringent rules and regulations regarding food safety measures in emerging economies.

Global Food Grade Lubricants Market Regional Analysis: 

The Global Food Grade Lubricants Market Report includes the segmentation of Regions:

  • North America - the United States and Canada
  • Europe - United Kingdom, Spain, Germany, Italy, and France
  • The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
  • Latin America - Brazil, Argentina, Mexico, and Rest of LATAM
  • The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Europe holds the largest food-grade lubricants market share owing to the increasing demand for food-grade lubricants and strict food safety measures by the government. Moreover, the Asia Pacific region is estimated to hold the highest CAGR during the forecast period due to the increasing awareness of the food industry. On the other hand, the North America food-grade lubricant market tends to be the second fastest-growing in the future, and the Middle East & Africa food-grade lubricant Market tends to grow with a significant CAGR, respectively during the forecast period owing to the increasing utilization of food lubricants by the food industries. 

Impact of COVID-19 on Global Food Grade Lubricants Market:

COVID-19 has adversely affected many lives and also several sectors. The increasing cases daily led the government to impose lockdown for three to five months, which made many people unemployed since most of the factories and industries were shut down. Coming to the food grade lubricants market, which was impacted negatively in COVID-19 due to disruptions in the supply chains, the global food grade lubricants market may witness growth during the forecast period due to the shifting dynamics considering food safety.

Food Grade Lubricants Market Key Players:

The companies covered in the report include:

  • Exxon Mobil Corporation 
  • BP PLC 
  • Royal Dutch Shell Plc. 
  • Fuchs Petrolub SE  
  • Kluber Lubrication Munchen SE & Co. KG 
  • Petro-Canada Lubricants Inc.

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FAQ's

What is the size of the Global Food Grade Lubricants Market?

The Food Grade Lubricants Market value was projected to be US$231.4 million in 2022 and anticipated to reach US$ 403.6 million by the end of 2028.

What is the growth rate of the Global Food Grade Lubricants Market?

The worldwide Food Grade Lubricants market is expected to grow with a CAGR of 5.6% between 2023 and 2028.

What is the forecast period for the study?

The forecast period for the study on Global Food Grade Lubricants Market is between 2023 to 2028.

Name three key players in the Global Food Grade Lubricants Market?

Exxon Mobil Corporation, BP PLC and Royal Dutch Shell Plc are three key market players.

What is the key market growth driver?

The increasing availability of food-grade lubricants in aerosol is one of the major drivers that help increase the global food-grade lubricants market size.

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