Market Size of Food Grade Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Food Grade Lubricants Market Analysis
The market for food-grade lubricants is expected to register a CAGR of over 5% globally during the forecast period.
The COVID-19 epidemic negatively impacted the market for food-grade lubricants. The lockdown and temporary suspensions in production facilities caused considerable damage to several applications, reducing food-grade lubricants' usage. Yet, beyond 2020, the market grew moderately due to ongoing initiatives in the main end-user categories.
- The primary factor driving the market studied is increasing food safety regulations. Also, the increased processed food demand is expected to drive the market forward.
- Conversely, awareness shortage and lack of training among manufacturers are hindering the market's growth.
- The increasing concern over food and beverage safety will likely be an opportunity during the forecast period.
- Europe is expected to dominate the global market with the most substantial consumption from countries such as Germany, the United Kingdom, and France.
Food Grade Lubricants Industry Segmentation
Food-grade lubricants are the kind of lubricants that protect against friction, corrosion, wear, oxidation, dissipating heat, and power transmission, as well as serve the purpose of a sealing effect in some cases. Food-grade lubricants are widely used in the food, beverages, and pharmaceutical industries. The food-grade lubricants market is segmented by food grade, product type, end-user industry, and geography. By food grade, the market is segmented into H1, H2, and H3. By product type, the market is segmented into grease, hydraulic fluid, gear oil, and other product types. By end-user industry, the market is segmented into food and beverage, cosmetics, edible oil, and other end-user industries. The report also covers the market size and forecasts for food-grade lubricants in 15 countries across the central regions. Each segment's market sizing and forecasts are based on revenue (USD million).
| Food Grade | |
| H1 | |
| H2 | |
| H3 |
| Product Type | |
| Grease | |
| Hydraulic Fluid | |
| Gear Oil | |
| Other Product Types |
| End-user Industry | |
| Food & Beverage | |
| Cosmetics | |
| Edible Oil | |
| Other End-user Industries |
| Geography | |||||||
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Food Grade Lubricants Market Size Summary
The food-grade lubricants market is poised for significant growth, driven by increasing food safety regulations and the rising demand for processed foods. These lubricants, specifically designed for industrial machinery where accidental contact with food may occur, are essential for ensuring safety and compliance in food and beverage production. Despite the initial setbacks caused by the COVID-19 pandemic, the market has shown moderate recovery, with Europe expected to lead in consumption due to its robust food and beverage industry. The market's expansion is further supported by the growing concerns over food safety, presenting opportunities for manufacturers to enhance awareness and training.
Europe's dominance in the food-grade lubricants market is attributed to high demand from countries like Germany, the United Kingdom, and France. The region's extensive use of these lubricants is bolstered by a strong food and beverage sector, which significantly contributes to the local economy. Key players in the market, such as Dow, The Chemours Company, and Matrix Specialty Lubricants, are actively involved in expanding their product lines to meet the increasing demand. Recent investments and product launches, like those by Saudi Aramco and Petro-Canada, highlight the ongoing efforts to enhance the availability and application of food-grade lubricants, particularly in the Asia-Pacific and European regions.
Food Grade Lubricants Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Food Safety Regulations
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1.1.2 Increase in Demand for Processed Food
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1.2 Restraints
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1.2.1 Lack of Awareness and Shortage of Training
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Food Grade
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2.1.1 H1
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2.1.2 H2
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2.1.3 H3
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2.2 Product Type
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2.2.1 Grease
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2.2.2 Hydraulic Fluid
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2.2.3 Gear Oil
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2.2.4 Other Product Types
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2.3 End-user Industry
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2.3.1 Food & Beverage
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2.3.2 Cosmetics
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2.3.3 Edible Oil
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2.3.4 Other End-user Industries
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 France
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2.4.3.4 Russia
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle-East and Africa
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Food Grade Lubricants Market Size FAQs
What is the current Food Grade Lubricants Market size?
The Food Grade Lubricants Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Food Grade Lubricants Market?
The Lubrizol Corporation, CONDAT Group , Dow, The Chemours Company and Matrix Specialty Lubricants are the major companies operating in the Food Grade Lubricants Market.
