Published: May 2022 | Report Code: 12325 | Available Format: PDF
The global food grade lubricants market size stood at $260.1 million in 2021, which is expected to reach $516.5 million by 2030, advancing at a CAGR of 7.9% during 2021–2030. This can be ascribed to the rising food safety concerns all over the world coupled with the increase in cases of foodborne diseases.
In recent years, there is a rise in the burden of foodborne diseases, and around 650 million people are suffering from these diseases all over the world each year. Many food-related diseases are caused on account of the accidental contact with lubricants being used in machinery. Hence, there is a high need for food-grade lubricants, to protect raw materials as well as finished products from contamination.
The changing lifestyle of people has resulted in a shift in consumer demand for processed canned food items. Because of their hectic schedules, a lack of time to prepare home-cooked meals, and rapid urbanization, the demand for processed food is increasing significantly, particularly in developing countries. Food-grade lubricants are used in manufacturing units of processed food. Thus, the increase in processed food demand is expected to fuel the market growth over the forecast period.
Recent technological advancements have resulted in a significant increase in the use of automated lubrication systems. The use of these systems reduces the chances of equipment failure by 50% while lowering maintenance costs. The systems are useful for both static and mobile equipment where lubricant supply can be regulated at equal intervals. They also aid to reduce the risk of contamination.
Manufacturers are also shifting their focus toward automated units to ensure that products produced are of superior quality, creating lucrative opportunities for the food grade lubricants market to grow. Furthermore, the rising consumer concerns about the safety of food products may present new opportunities for food-grade lubricant manufacturers to innovate and introduce novel products.
The sales of mineral food-grade lubricants generated the largest revenue, of $163.0 million, in 2021 in the market, and this category will grow at a CAGR of 8.3% during 2021–2030. This is ascribed to their low cost in comparison to other products, and their high demand in the beverage, food, and cosmetic industries. Moreover, customers, nowadays, have become more aware of mineral oils than bio-based and synthetic oils. Additionally, the presence of a larger number of mineral oil producers plays a vital role in the growth of the market in this category.
The food category accounted for the largest revenue share, of more than 60%, and it is expected to grow at a CAGR of 8.1% during 2021–2030. This is on account of the rising consumption of confectionery, dairy, bakery, poultry, meat, and seafood products. In addition, the increasing consumer awareness, as well as preference for high-quality attributes of meat, is set to intensify the growth of the poultry, meat, and seafood industry.
Because of changing lifestyles that increase on-the-go eating habits and a surging trend to substitute meals with smaller nutritional snacks, people are increasingly incorporating ready-to-eat and processed meat products into their daily diet. Moreover, growing consumer knowledge about protein ingredients, as well as branding efforts by major manufacturers worldwide, is expected to shift consumer perception that meat products are healthier sources of protein than a vegetarian diet. These factors are driving the market in this category all over the world.
Furthermore, the demand for food-grade lubricants in cosmetic applications is expected to rise steadily in the upcoming period. The market is predicted to increase due to a positive outlook toward cosmetic or personal care items and a rise in sales of eyeshadow, lipstick, and other skincare products. Moreover, the cosmetic sector is developing because of factors such as rising disposable income, surging middle-class aspirational spending, changing lifestyles, and increasing preference for high-quality products.
Market Size in 2021
Revenue Forecast in 2030
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regulatory Scenario; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
By Product; By Application; By Region
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Geographically, the European food grade lubricants market accounted for the largest revenue, of $89.1 million, in 2021, and it is expected to advance at a CAGR of 8.1% during 2021–2030. This is on account of the presence of well-established and developed manufacturing sectors in the region. Moreover, the post-recession recovery of the overall economy combined with the surging demand for grease and lubricants in modern machinery is expected to drive market growth.
One of the other key factors propelling the need for bio-based food-grade lubricants in the region is the surging demand for processed food and beverages. Consumers in the region are becoming more aware of the health benefits of processed food, which is expected to drive the requirement for these lubricants in the food processing industry.
Moreover, in comparison to the rest of the world, Europe's food quality control and standards are exceptionally high and strict, which results in the surging use of high-quality lubricants. In the region, there are around 240,000 manufacturing companies that use food-grade lubricants.
However, the APAC market is projected to observe the fastest growth, advancing at a CAGR of 8.4%, during the forecast period. This can be ascribed to the mounting and changing trend in the food industry and the increasing consumer acceptance of processed food in countries like China, India, and Japan. In addition, lubricants made from vegetable oil and animal fat are widely used in industries, such as food processing, cosmetics, and pharmaceutical, for machine protection applications, in the region. Furthermore, R&D initiatives such as the development of bio-based counterparts to reduce harmful environmental effects are also expected to boost the demand for food-grade lubricants.
China is expected to lead the APAC market in the forecast period. Favorable policies from the government along with the snowballing focus on environmental concerns are projected to propel the need for bio-based lubricants. In addition, the product innovation and introduction of high-performance products, and the government strategies aimed at increasing the usage of bio-based lubricants are expected to drive market growth.
In recent years, players in the food grade lubricants market have been involved in product launches, mergers, and acquisitions to attain a significant position in the industry. For instance:
The research offers a market size of the food grade lubricants for the period 2017–2030.
Based on Product
Based on Application
During 2021–2030, the growth rate of the food grade lubricants market will be around 8%.
In 2021, the size of the food grade lubricants market stood at $260.1 million.
Food is the largest application area of food-grade lubricants.
Europe is the largest market for food-grade lubricants, globally.
Top players in the food grade lubricants market include ExxonMobil Corporation, TotalEnergies SE, FUCHS Petrolub AG, BP plc, Petro-Canada Lubricants Inc., Chevron Corporation, The DOW Chemical Company, Kluber Lubrication Munchen SE & Co. KG, SKF GmbH, and Illinois Tools Works Inc.
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