Global food grade lubricants market is anticipated to witness healthy growth during forecast period of 2019-2024, with a projected revenue of $ 265 million by 2024. Notably, stringent food safety regulations and growth of processed food market are anticipated to propel global food grade lubricants market. However, the lack of proper training and awareness hindering the growth of the market. Food grade lubricants must perform the same technical functions as conventional lubricants. Moreover, they should resist degradation of food products and display neutral chemical behavior towards food packaging materials and food processing equipment while complying with health/food safety regulations.
The market for food grade lubricants is segmented on the basis of base oil, application and region. Based on base oil, the market is categorized into synthetic (PAO and PAG), bio-based, mineral and others. Of all, synthetic oil-based food grade lubricants are anticipated to witness the highest CAGR during forecast period owing to their advanced properties such as better performance in extreme temperature conditions, durability and oxidation stability as compared to conventional mineral oil lubricants.
Based on application, the market is segmented into food, pharmaceuticals & cosmetics, beverages and others, of which
Regionally, the market has been segmented as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Among these regions, Europe is the largest market for food grade lubricants. Strict food safety regulations in Europe are anticipated to drive the demand for food grade lubricants across the region. However, Asia-Pacific is expected to be the fastest-growing market during forecast period on account of increasing awareness and growing processed food industry in the region.
Some of the key players operating in g
Years considered for this report
Historical Years2014-2017
Base Year2018
Estimated Year2019
Forecast Period2020-2024
Objective of the Study
- To analyze
and forecast global food grade lubricants market size.
- To forecast global food
grade lubricants market based on base oil, application and regional
distribution.
- To
identify drivers and challenges for global food grade lubricants market.
- To
examine competitive developments such as expansions, new product launches,
mergers & acquisitions, etc., in global food grade lubricants market.
- To conduct
pricing analysis for food grade lubricants market.
- To
identify and analyze the profile of leading players involved in the
manufacturing of food grade lubricants.
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Some of the leading players in global food grade lubricants market are Fuchs Petrolub SE, Illinois Tool Works Inc., Kluber Lubrication Munchen SE & Co. Kg, Petro-Canada Lubricants Inc., Total S.A., AB SKF, BP Plc, Chemtura Corporation, Exxon Mobil Corporation and Jax Inc.
Market Insights Research performed both primary as well as exhaustive secondary research for this study. Initially, Market Insights Research sourced a list of leading manufacturers across the globe. Subsequently, Market Insights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market Insights Research could include the manufacturers which could not be identified due to the limitations of secondary research. Market Insights Research analyzed the product offerings, distribution channels and presence of all major players operating in global
Market Insights Research calculated
Key Target Audience
- Food grade lubricants manufacturers and suppliers
- Government and other regulatory bodies
- Research institutes and organizations
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
