What Is The Size Of Global Food Grade Lubricants Industry?
The Food Grade Lubricants Market is largely driven by strict government rules and regulation on mandating the usage of food-grade lubricants.
Surging the food and beverages industry, is likely to propel the growth of the food-grade lubricants market. For instance, as per Germany Trade & Invest, Germany is Europe’s largest food producer and the food & beverages industry represents the fourth largest industry sector in Germany. Exports of processed foods and agricultural commodities generated sales of US$ 70.21 Million in 2018, making Germany the third largest exporter of food and beverages worldwide.
Lack of technical knowledge about the Food-Grades such as H1, H2, and H3 among the manufacturers, is likely to cause a restraint for this market. NSF International, an American health organization, mentioned that lubricants registered as H1 or certified to ISO 21469 are considered food-grade.
COVID-19 has decelerated the growth of the Food Grade Market. This is because of the temporary shutdown of assembly lines, disruption of the supply chain, restriction on manufacturing activities, and decline in the number of export and import of various food product types. But as the market is recovering and people are getting more aware of food safety, it is estimated that the food-grade lubricants market will grow significantly in the forecasted period.
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Global Food Grade Lubricants Market By Product Type
The Global Food Grade Lubricants market is segmented by Product type into Mineral, Synthetic, Bio-Based and Others.
The mineral segment accounted for the largest market share in 2022, as it is used for multiple applications such as food, beverages, cosmetics, and others.
According to Enerdata, an energy intelligence company, stated in a report that global crude oil output rose by less than 1% in 2021 after a 7.4% drop in 2020.
In 2021, as stated by Enerdata, the US crude oil production (17% of global output) increased by 1.3%. Increased production of crude oil is likely to propel the growth of the mineral oil product segment.
Global Food Grade Lubricants Market By Grade
The Global Food Grade Lubricants market is segmented by Grade into H1, H2 and H3. The H1 segment accounted for the largest market share in 2022, owing to the extensive usage in the food industry.
H1 lubricants are food-grade lubricants used in food manufacturing plants where there is less possibility of occasional contact with food.
H1 lubricants are produced with a base oil like polyaphaolefines, polyalkenes glycol, and easter, mixed with additives, that help in to maintain the quality of food.
Global Food Grade Lubricants Market By Application
The Global Food Grade Lubricants market is segmented by Application into Food, Beverages, Pharmaceuticals and Others.
The food application segment held the largest market in 2022, owing to increased usage, and multiple applications in various sub-sector in the food industry.
As per Invest India, India ranks 1st in milk production and contributes 23% of milk production growing at a CAGR of ~6.2% to reach 209.96 MT in 2020-21.
According to the USA Department of Agriculture, Japan’s food processing industry manufactured US$ 218.3 billion in food and beverages products.
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Key Topics Covered in the Report
- Snapshot of the Global Food Grade Lubricants Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Food Grade Lubricants Market
- Historic Growth of the Overall Global Food Grade Lubricants Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Food Grade Lubricants Industry
- Overview, Product Type Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Food Grade Lubricants Market
- Future Market Forecast and Growth Rates of the Total Global Food Grade Lubricants Market and by Segments
- Market Size of Type/End-Users Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Food Grade Lubricants Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Major Players Mentioned in the Report
- Exxon Mobil
- FUCHS PETROLUB SE
- Dow Chemical Company
- Total Energy
- ENEOS Corporation
- Phillips 66
Notable Emerging Companies Mentioned in the Report
- Cocoon Biotech
- BioMed Element
- Cypris Materials
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Food-Grade Lubricants Manufacturing Companies
- Food-Grade Lubricants Suppliers
- Food-Grade Lubricants Material Producers
- Potential Investors in Food-Grade Lubricants Companies
- Lubricants Producers
- Edible Oil Manufacturers
- Consulting Companies in the Chemical Market
- Government And Research Organizations Working in the Chemical Industries
- Investment Banks Targeting the Edible Oils Industry
- PE and VC Firms focused on Food Industry
- Investment Banks Targeting Food Industry
- Government Ministries and Departments of Food Industry
- Food Research Institutes
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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