According to a new market report published by Lucintel, the future of the food grade lubricant market looks promising with opportunities in the food, beverage, pharmaceutical, and cosmetic industries. The global food grade lubricant market is expected to grow with a CAGR of 7% from 2020 to 2025. The major drivers for this market are the growing processed food industry and increasing concern over food safety.
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Food grade lubricants are typically edible oils that are used to prevent rust on hooks, trolleys, and similar equipment. In this market, mineral, synthetic, and bio-based are the major base oils used for manufacturing food grade lubricants. Lucintel forecasts that mineral based food grade lubricants will remain the largest base oil segment over the forecast period, as it has low cost and easy availability.
Within this market, food will remain the largest application segment over the forecast period due to increasing concern over food safety and rapid growth of the food processing industry.
Europe will remain the largest region over the forecast period due to the stringent food safety regulations and growing demand for proccessed food in the region. Asia Pacific is expected to witness the highest growth over the forecast period due to rising awareness of food safety and growing processed food industry in the region.
Fuchs Petrolub, BP, Total S.A., Petro-Canada Lubricants, Exxon Mobil, Kluber Lubrication Munchen, AB SKF, Chemtura, Illinois Tool Works, and Jax are among the major suppliers in the global food grade lubricant market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global food grade lubricant market by base oil, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Food Grade Lubricant Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global food grade lubricant market by base oil, application, and region as follows:
By Base Oil [Value ($ Million) shipment analysis for 2014 – 2025]:
PAO (Polyalphaolefin)
PAG (Polyalkylene Glycol)
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Bakery
Sugar
Dairy
Meat Poultry
Sea Food
Beverages
Pharmaceuticals
Cosmetics
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This more than 150-pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.