Food Grade Lubricants market Growth at a CAGR of 9.6% from 2021 to 2030

Food Grade Lubricants Market size was valued at USD 312.7 Million in 2020 and is projected to reach USD 660.2 Million by 2030, growing at a CAGR of 9.6% from 2021 to 2030.

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Growth Factors

 The growth is majorly driven by rising demand from end-use industries and rising awareness for sustainable alternatives over petrochemical feedstock such as bio-based products coupled with expanding the food and beverages industry.

Bio-based lubricants have registered comparatively slower market growth in the past couple of decades due to their limited application scope, poor public image, higher prices, performance shortcomings, and more. However, with increased supply of high-performance, technologically advanced, cost-competitive lubricating products based on petroleum-based feedstock’s, synthetic bio-based formulations, the demand for bio-based products is picking up pace and is likely to achieve the highest growth rate over the coming years.

Report Coverage

Report Scope	Details
Market Size	USD 660.2 million by 2030
Growth Rate	CAGR of 9.6% From 2021 to 2030
Base Year	2021
Historic Data	2017 to 2020
Forecast Period	2021 to 2030
Segments Covered	Product type, Application
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned	Exxon Mobil Corporation; CITGO Petroleum Corporation; Total S.A.; Petro-Canada Lubricants Inc.; Chevron Corporation; Dow; Royal Dutch Shell; Lanxess Corporation; Fuchs Group

Report Highlights

The mineral product segment dominated the market for food-grade lubricants and held for the highest revenue share of more than 62.0% in 2020. Mineral food grade lubricant is preferred for machinery like hydraulic systems that operate at temperatures between 120°F to 150°F. The demand for mineral-based lubricants among various applications including food, beverage, cosmetic, and others is anticipated to maintain its dominance owing to its low cost.

The synthetic-based lubricants emerged as the second-largest product segment in terms of both volume and revenue in 2020. Synthetic lubricants are preferred for high performance in both extreme low and high temperatures. These products are non-toxic, odorless, colorless, and tasteless. It helps to reduce downtime and better protect metal surfaces from corrosion and wear.  Thus, all the above-mentioned factors together are anticipated to create substantial demand for synthetic product types during the forecast period.

The food application segment dominated the market for food-grade lubricants and accounted for the largest revenue share of 62.2% in 2020. Its high share is attributable to increased consumption of the product in bakery, confectionery, dairy, meat, poultry and seafood, sauces and dressings, and others applications.

The beverage segment includes the consumption of the product in Carbonated Soft Drinks (CSD), fruit beverages, functional beverages, sports drinks, alcoholic beverages, and other applications. A significant rise in demand for alcoholic beverages from the millennial population across the globe is substantially propelling the demand for alcoholic beverages.

These are expected to gain high recognition owing to increasing demand for natural/environment-friendly lubricating products in the food and beverages and cosmetics industry. The bio-based lubricant segment is poised to ascend at the fastest CAGR of 9.9%, in terms of revenue, from 2021 to 2030.

The food application segment dominated the market for food-grade lubricants and accounted for the largest revenue share of 62.6% in 2020. Its high share is attributable to increased consumption of the product in bakery, confectionery, dairy, meat, poultry and seafood, sauces and dressings, and others applications.

Europe dominated the food grade lubricants market and accounted for the largest revenue share of 42.0% in 2020. The region is anticipated to witness a CAGR of 7.3% from 2021 to 2028. Stringent EPA and REACH regulations in most parts of Europe have prompted manufacturers to shift their focus towards developing bio-based lubricants. Increasing penetration of bio-based alternatives is expected to remain a major threat to mineral-based product growth in the region.

In North America, demand for food-grade lubricants is mainly driven by the massive industrialization in Mexico. Mexico has emerged as a major manufacturing hub since the last decade. Mexico is gaining attention as a new growth market following the footprints of BRICs markets. It continues to experience stable growth centered on the food and beverage industry.

Key Players

• Exxon Mobil Corporation
• CITGO Petroleum Corporation
• Total S.A.
• Petro-Canada Lubricants Inc
• Chevron Corporation
• Dow
• Royal Dutch Shell
• Lanxess Corporation
• Fuchs Group

Market Segmentation

• Product Type
  • Mineral
  • Synthetic
  • Bio-based
• Application
  • Food
    • Bakery
    • Confectionery
    • Dairy
    • Meat, Poultry, & Seafood
    • Sauces & Dressings
    • Others
  • Beverage
    • Carbonated Soft Drinks
    • Fruit Beverages
    • Sports Drinks
    • Alcoholic Beverages
    • Others
  • Pharmaceuticals
  • Cosmetics
  • Others
• Regional
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • South East Asia
  • Central & South America
    • Brazil
    • Argentina
    • Columbia
    • Peru
  • Middle East & Africa
    • Saudi Arabia
    • South Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Food Grade Lubricants Market, By Product

7.1.  Food Grade Lubricants Market, by Product, 2021-2030

7.1.1.    Mineral

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Synthetic

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Bio-based

7.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Food Grade Lubricants Market, By Application

8.1.  Food Grade Lubricants Market, by Application, 2021-2030

8.1.1.    Food

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Beverage

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Pharmaceuticals

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Cosmetics

8.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Food Grade Lubricants Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Product (2017-2030)

9.1.2.    Market Revenue and Forecast, by Application (2017-2030)

9.1.3.    U.S.

9.1.3.1.        Market Revenue and Forecast, by Product (2017-2030)

9.1.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.1.4.    Rest of North America

9.1.4.1.        Market Revenue and Forecast, by Product (2017-2030)

9.1.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Product (2017-2030)

9.2.2.    Market Revenue and Forecast, by Application (2017-2030)

9.2.3.    UK

9.2.3.1.        Market Revenue and Forecast, by Product (2017-2030)

9.2.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.4.    Germany

9.2.4.1.        Market Revenue and Forecast, by Product (2017-2030)

9.2.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.5.    France

9.2.5.1.        Market Revenue and Forecast, by Product (2017-2030)

9.2.5.2.        Market Revenue and Forecast, by Application (2017-2030)

9.2.6.    Rest of Europe

9.2.6.1.        Market Revenue and Forecast, by Product (2017-2030)

9.2.6.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Product (2017-2030)

9.3.2.    Market Revenue and Forecast, by Application (2017-2030)

9.3.3.    India

9.3.3.1.        Market Revenue and Forecast, by Product (2017-2030)

9.3.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.4.    China

9.3.4.1.        Market Revenue and Forecast, by Product (2017-2030)

9.3.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.5.    Japan

9.3.5.1.        Market Revenue and Forecast, by Product (2017-2030)

9.3.5.2.        Market Revenue and Forecast, by Application (2017-2030)

9.3.6.    Rest of APAC

9.3.6.1.        Market Revenue and Forecast, by Product (2017-2030)

9.3.6.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Product (2017-2030)

9.4.2.    Market Revenue and Forecast, by Application (2017-2030)

9.4.3.    GCC

9.4.3.1.        Market Revenue and Forecast, by Product (2017-2030)

9.4.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.4.    North Africa

9.4.4.1.        Market Revenue and Forecast, by Product (2017-2030)

9.4.4.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.5.    South Africa

9.4.5.1.        Market Revenue and Forecast, by Product (2017-2030)

9.4.5.2.        Market Revenue and Forecast, by Application (2017-2030)

9.4.6.    Rest of MEA

9.4.6.1.        Market Revenue and Forecast, by Product (2017-2030)

9.4.6.2.        Market Revenue and Forecast, by Application (2017-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Product (2017-2030)

9.5.2.    Market Revenue and Forecast, by Application (2017-2030)

9.5.3.    Brazil

9.5.3.1.        Market Revenue and Forecast, by Product (2017-2030)

9.5.3.2.        Market Revenue and Forecast, by Application (2017-2030)

9.5.4.    Rest of LATAM

9.5.4.1.        Market Revenue and Forecast, by Product (2017-2030)

9.5.4.2.        Market Revenue and Forecast, by Application (2017-2030)

Chapter 10.  Company Profiles

10.1.              Exxon Mobil Corporation

10.1.1.  Company Overview

10.1.2.  Product Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              CITGO Petroleum Corporation

10.2.1.  Company Overview

10.2.2.  Product Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              Total S.A.

10.3.1.  Company Overview

10.3.2.  Product Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              Petro-Canada Lubricants Inc

10.4.1.  Company Overview

10.4.2.  Product Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              Chevron Corporation

10.5.1.  Company Overview

10.5.2.  Product Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              Dow

10.6.1.  Company Overview

10.6.2.  Product Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Royal Dutch Shell

10.7.1.  Company Overview

10.7.2.  Product Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              Lanxess Corporation

10.8.1.  Company Overview

10.8.2.  Product Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              Fuchs Group

10.9.1.  Company Overview

10.9.2.  Product Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

Glossary of Terms

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