Food Grade Lubricants Market by Base Oil (Synthetic Oil, Mineral Oil, and Bio-Based Oil), Application (Food, Beverages, Pharmaceuticals, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026670 | Pages: 100 | Industry: Food and Beverages | Date: Oct 2022 | Type: Global

The market crossed US$ 350 million mark in 2022 and is expected to hit US$ 600 million by 2030, recording a CAGR of 7% during the forecast period.

Rising demand for processed food products to drive market growth 

Food grade lubricants are widely used in producing processed food items. The rising worldwide demand for processed food items is expected to drive market growth. In addition, technological advancements in the development of processed food items are likely to increase the global demand for food-grade lubricants. Increasing food manufacturers' focus on producing food items with a higher shelf life is anticipated to favor market growth.  

Within the report, the global market is segmented based on base oil, application, and geography. Based on base oil, the market is further segmented into synthetic oil, mineral oil, and bio-based oil. The global market is bifurcated into food, beverages, pharmaceuticals, and others based on application. Geographically, the global market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Increasing concerns over food safety offer futuristic market growth opportunities

Increasing concerns over food safety are pushing manufacturers toward developing better quality food-grade lubricant oils, favoring the market's future growth. In addition, the rising worldwide demand for canned and frozen food items requiring the usage of food-grade lubricants is likely to offer newer market growth opportunities. Shifting manufacturers' focus toward developing sustainably made food-grade, bio-based lubricants to promote the production of eco-friendly food items is expected to favor market growth. 

Increasing usage in different industries to drive market growth

Food grade lubricants are used in various products such as food, beverages, and pharmaceuticals. The increasing demand for processed food items is mainly driving the food segment growth. In addition, increasing demand for lubricants in producing syrups and soft drinks to increase the shelf life s expected to support the beverage and pharmaceutical segments' growth.

Recent strategic developments in the food grade lubricant market

The food grade lubricant market has undergone several significant developments, and a few of these have been mentioned below:

  • In October 2021, The FUCHS Group, an independent lubricant manufacturer, acquired Gleitmo Technik AB, a Sweden-based manufacturer of speciality lubricants, release agents, adhesives, sealants and prototype materials to expand its presence in the European food grade lubricant market.
  • In June 2020, The International Group Inc., a Canadian wax maker, acquired Rheogistics LLC., Mississippi, a US-based supplier of lubricant and mechanical stabilizers for cosmetic and food products.

The food grade lubricant market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ExxonMobil Corporation, TotalEnergies SE, FUCHS Petrolub AG, BP plc., and  Chevron Corporation are among the key companies operating in the market.

The target audience for the report:

  • Food grade lubricant manufacturers
  • Food grade lubricant suppliers and dealers
  • Food grade lubricant exporters
  • Food industry-related associations, organizations, forums, and alliances
  • Government bodies, such as policymakers and regulating authorities
  • Venture capitalists, private equity firms, and start-up companies
  • End users of food-grade lubricants
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the global market has been segmented based on:

  • Base Oil:
    • Synthetic Oil
    • Mineral Oil
    • Bio-Based Oil  
  • Application:
    • Food
    • Beverages
    • Pharmaceuticals
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • ExxonMobil Corporation
  • TotalEnergies SE
  • FUCHS Petrolub AG
  • BP plc.
  • Chevron Corporation  

The List of Companies
- ExxonMobil Corporation
- TotalEnergies SE
- FUCHS Petrolub AG
- BP plc.
- Chevron Corporation

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