The global food grade lubricant market is poised for significant growth, with its size expected to increase from US$ 363 million in 2023 to US$ 471 million by 2033. Over the next decade, a sluggish 2.6% CAGR in the demand for food grade lubricants will drive this expansion.
The global demand for food grade lubricants is rising due to growing concerns about hazardous mineral oils. This surge is particularly pronounced in the food and beverage sector, propelling market growth. Additionally, the increasing awareness of food safety is expected to further drive the growth of food-grade lubricants in the foreseeable future.
End-user industries, including food bakery, dairy, sugar, meat & poultry, beverages, pharmaceuticals, and cosmetics, are crucial in shaping the market landscape during the forecast period. Notably, heightened environmental consciousness and the escalating demand for biodegradable alternatives are contributing to the expansion of the market size. Furthermore, the food bakery industry’s emphasis on maintaining industrial equipment is poised to significantly bolster the global market size.
Tap into Market Opportunities and Stay Ahead of Competitors – Get Your Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-98
The governments of developed countries impose strict regulations on the safe manufacture of foods, drinks, cosmetics, and medications. As a result, active participants in the related sectors frequently employ food grade lubricants while processing products. Some well-known governmental regulatory agencies with strict food safety and quality rules are the Food and Drug Administration and the European Food Safety Authority.
The participants in the industries employ food grade lubricants in the machinery used to process consumable items to prevent any product recalls and to comply with regulatory regulations. Leading food and beverage businesses also employ food grade lubricants to promote the maximum food standards and avert brand damage due to product recalls.
Rapid growth is seen in the food grade lubricant market made from biomaterials. Given the strict environmental protection laws and growing consumer awareness in these regions, North America and Europe have become the prime users of these items. Asia Pacific leads the synthetic lubricant market, whereas this region’s bio-lubricants sector is underdeveloped. Countries like Japan strongly emphasize lubricating items with an eco-label as the markets in the Asia Pacific have begun to reflect the regulatory systems in the United States and Europe.
Integrating technology like IoT and Industry 4.0 into food production facilities is anticipated to create opportunities for smart lubrication solutions. This confluence of innovation will likely develop the foundation for a revolutionary future by improving operational effectiveness. Simultaneously, it is expected to ensure the pinnacle of safety and quality in the food business, says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)
Key Takeaways from the Food Grade Lubricant Market
- In 2022, the global food grade lubricant market size stood at US$ 356 million.
- Germany’s food grade lubricant industry is estimated to lead with a projected 13.2% CAGR from 2023 to 2033, driven by stringent regulatory compliance and a robust manufacturing sector.
- Australia’s food grade lubricant industry will likely show a steady 11.9% CAGR between 2023 and 2033, influenced by a burgeoning food and beverage sector and an increasing focus on sustainability.
- Japan’s food grade lubricant industry is projected to develop at 10.1% CAGR through 2033, propelled by a technologically advanced manufacturing landscape and a heightened emphasis on food safety.
- The United States food grade lubricant industry is likely to exhibit a 6.0% CAGR from 2023 to 2033, affected by a robust and dynamic food processing sector and ongoing advancements in lubricant technology and formulations.
- China’s food grade lubricant industry is projected to follow closely with an estimated 2.2% CAGR through 2033, attributed to the rapid expansion of the food processing sector and heightened awareness of food safety and regulatory compliance.
Drive Your Growth Strategy: Purchase the Report for Key Insights: https://www.futuremarketinsights.com/checkout/98
Key Players and Strategies for Success in the Food Grade Lubricant Market
Here are some key strategies that players in the food grade lubricant market employ for success:
- Prioritize adherence to food safety standards and regulations.
- Invest in research and development for innovative, safe, and efficient lubricant solutions.
- Understand unique customer needs and offer tailored solutions.
- Emphasize eco-friendly and biodegradable lubricant options.
- Expand market presence in emerging economies with high growth potential.
- Collaborate with food processing equipment manufacturers and distributors.
Recent Developments in the Food Grade Lubricant Market
- Balmerol introduced its line of food-grade lubricants, certified by NSF International and the United States. These are categorized as H1 lubricants (under NSF – Nonfood Compounds Registration Program). An appealing Balmerol Food Grade Lubricant flyer has been created as well.
- A fresh line of premium food-grade lubricants from Hydrotex was introduced. A robust additive package is incorporated into the Ultra-Kleen XPL series to enhance corrosion protection and increase fluid life. The wide working temperature ranges of the lubricants in this series make them perfect for food processing.
Key Companies Profiled in the Food Grade Lubricant Market
- 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
Access the Complete Report Methodology Now! https://www.futuremarketinsights.com/request-report-methodology/rep-gb-98
Food Grade Lubricant Market Key Segments
By Base Oil:
- H1 Lubricants
- H2 Lubricants
- 3H Lubricants (releasing agents)
- H3 Lubricants (soluble oils)
- Others
By End-use Application:
- Food-Bakery
- Sugar
- Dairy
- Meat, Poultry, and Seafood
- Others
- Beverages
- Pharmaceuticals & Cosmetics
- Others
By Region:
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact FMI:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube