Country-niche Players Dominate the Food-Grade Lubricants Market, Despite the Presence of ~100 Competitors Comprising a Significant Number of Global and Regional Players, finds a recent market study on the Global Food-Grade Lubricants Market by Ken Research.
Food Grade lubricants are categorized under oil and grease, acceptable for use in meat, poultry, and other food processing equipment, application, and plants. Lubricants are broken into different categories on the likelihood they will contact food. As of now, food-grade lubricants are designated as H1, H2, and H3. The approval and registration of new lubricants into one of these categories are based on the ingredient used in the formulation. Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
- Global Players Constitute ~15% of the Total Number of Competitors, While Country-niche Players Dominate Representing ~55% of Total Competitors by Type
Competitive Analysis by the research study found that the global food-grade lubricants market is significantly competitive with ~100 players which include country-niche players, regional players as well as a significant number of globally diversified players, who deal in the manufacturing and supplying food-grade lubricants products for application including food, beverages, cosmetics, and others. The large global players even though comprise about 15% in terms of the number of companies, hold a majority portion of the market revenue share followed by regional players which account for a strong portion of the market revenue share. Most of the players are having their headquarters in the Europe region.
- The majority Number of Players are Specialists, Manufacturing a Wide Array of Products in the Global Food-Grade Lubricants Market.
Detailed comparative analysis of key competitors available within the research study reveals that players have a variety of food-grade lubricant manufacturing for different product types such as mineral, synthetic, and bio-based. All leading competitors have a strong presence in the global food-grade lubricants market. Furthermore, several companies and organizations are aggressively investing in R&D to cater to end-users demands.
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- In February 2021, Metalube announced the launch of its next-generation food-safe NSF-registered high-performance chain oils.
- In November 2020, FUSCH Group acquired PolySi Technologies Incorporated, a manufacturer of lubricants for various applications such as industrial equipment, electrical, utility, and others.
Government Initiatives & Programs to Encourage the Expansion of the Global Food Grade Lubricants Market
- In the USA, food-grade lubricants must be formulated by title 21 Code of Federal Regulations (21CFR) 178.3570. The act further stated that lubricants with incidental food contact may be safely used on machinery used for producing, manufacturing, packing, or holding food, subject to the provision of this section.
- China’s food hygiene law sets the standards and requirements for ensuring food hygiene and protecting food products from contamination with a harmful substance.
For more information on the research report, refer to the below link:
Competitors in Food Grade Lubricants Market
Read Also –
3 Key Insights on the US$ 500 Million Opportunity in the Global Food Grade Lubricants Market
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