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Food Grade Lubricants Market - By Grade , By Lubricant Type , By Base Oil Type , By Applications , By End-User Industry , By Geography - Global Opportunity Analysis & Industry Forecast, 2024 - 2030
Food Grade Lubricants Market Overview
Food Grade Lubricants Market Size is forecast to reach $ 311.0 Million by 2030, at a CAGR of 6.8% during forecast period 2024-2030. The stringent food safety regulations and the food quality check is increasing the demand for food grade lubricants. Major companies in the food industry has increasingly opted for the use of food grade lubricants to retain the quality and health of the food, which has highly contributed to the surge in demand for food grade lubricants. Food grade lubricants acts as an excellent corrosion inhibitor, which helps in keeping the food free from damage and any other altercations. Food grade lubricants are also good viscosity modifiers which helps in maintaining the viscosity of the food at extreme temperatures. Food grade lubricants are produced with a variety of chemicals such as polyalphaolefins, polyalkylene glycol and ester which helps in maintaining the quality and freshness of the food. This is highly driving the food grade lubricants market.
Covid-19 Impact
The Covid-19 pandemic, has highly affected the manufacture of food grade lubricants, which has contributed to the hindrance in the growth of the food grade lubricants market. The economic restrictions across the globe owing to the global pandemic Covid-19 lead to the ban of inter-state and inter-country trades, imports and exports which hugely impacted the growth of the food grade lubricants market. However, the situation is expected to ease out in the coming years and result in the growth of the market.
Food Grade Lubricants Market Report Coverage
The report: “Food Grade Lubricants Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Food Grade Lubricants Industry.
Key Takeaways
- Europe market is expected to hold the largest share in the food grade lubricants market which is due to the strict safety regulations and food quality check, which has surged the demand for food grade lubricants.
- Food grade lubricants provide various advantages such as good performance in extreme temperature, durability and oxidation stability which has contributed to the growth of food grade lubricants.
- The increase in food grade lubricant is also driven by the food standards which is almost present in every country, which makes it compulsory for food manufacturing industries to follow the standards.
- The food grade lubricants market also witnesses continuous expansion and innovation which contributes to the product development and thereby increases the scope of food grade lubricants in the market.
FIGURE: Food Grade Lubricants Market Revenue, 2020-2026 (US$ Million)
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Food Grade Lubricants Market Segment Analysis – By Grade
H1 lubricants grade held the largest share of 35% in the food grade lubricants market in the year 2020. This could be attributed to the fact that H1 lubricants are preferred grade of lubricants, as the use of heavy metals and zinc, which helps in providing quality to the product. H1 lubricants are produced with synthetic base oils such as polyalphaolefins, polyalkylene glycol and ester, coupled with additive packages, that helps in providing premium performance. This helps in maintaining the food quality, viscosity and the temperature of the food. H1 lubricants also helps in maintaining the pour point depressants which helps in tackling the low temperature performance in the food. This is driving the H1 lubricants in the grade segment of food grade lubricants market.
Food Grade Lubricants Market Segment Analysis – By Lubricant Type
Hydraulic oil segment held the largest share of 40% in the food grade lubricants market in the year 2020. The primary reason being hydraulic oil provides outstanding wear protection to vane pumps. Hydraulic oil also provides excellent thermal and oxidation stability, which means it helps manufacturers in improving plant reliability and performance. It also helps in reducing the complexity of the manufacturing. This eventually helps in saving costs. This is highly driving the hydraulic oil in the lubricant type segment of the food grade lubricants market.
Food Grade Lubricants Market Segment Analysis – By Base Oil Type
Synthetic-base oil segment held the largest share of 42% in the food grade lubricants market in the year 2020. This is mostly due to the superior properties of synthetic based oil food grade lubricants. Synthetic base oils perform better under extreme condition and temperature as compared to other oil base lubricants. This helps in maintaining pour point depressants and also acts as viscosity modifier which helps in maintaining the food at normal temperature. Synthetic base oil also helps in providing durability and oxidation stability which helps in increasing the quality of the product. This is highly driving the synthetic-base oil of the base oil type segment in the food grade lubricants market.
Food Grade Lubricants Market Segment Analysis – By Applications
Packaging equipment segment held the largest share of 25% in the food grade lubricants market in the year 2020. The food grade lubricants are extensively used in food packaging, handling and storage. There are certain rules and standards when it comes to packaging of food, in which food grade lubricants are an important part. Therefore, the packaging equipment are also manufactured with food grade lubricants, especially H1 grade lubricants, which makes the manufacture of packaging equipment the largest user of food grade lubricants.
Food Grade Lubricants Market Segment Analysis – By End-Use Industry
The food and beverage industry held the largest share of 60% in the food grade lubricants market in the year 2020. The reason for use of food grade lubricants is very obvious, as they are required in operating the manufacture of food and beverages. They are highly used for reducing spoilage of food and to facilitate smooth functioning of the process of manufacture. Using of food grade lubricants is a major food safety evaluation, which makes it compulsory for the manufacturers to use food grade lubricants in the manufacture of food and beverages.
Food Grade Lubricants Market Segment Analysis – By Geography
European region held the largest share of 35% in the food grade lubricants market in the year 2020. The reason for high consumption of food grade lubricants in Europe is due to the stringent food safety regulations in the European regions. The food quality check and standards are very high in Europe as compared to the rest of the world. Another main reason for the maximum consumption of food grade lubricants in the European market is due to the high consumption of packaged food in the European region. Strict actions will be taken against any manufacturer who does not comply with the specifications and therefore the consumption of food grade lubricants is very high in the European countries.
Food Grade Lubricants Market Drivers
Growth in global food processing industry
There has been a rapid growth in the food processing industry in the recent years owing to the technological development and up-gradation in the food industry. The technological development has led to the usage of advanced equipment and technology that has eventually led to the consumption of food grade lubricants to facilitate smooth functioning of production. The constant evolution in the food industry has led to the adoption of products such as food grade lubricants to keep up with the new standards and technical guidelines to preserve the food products. Food grade lubricants are widely used as corrosion inhibitor, viscosity modifiers, and for maintaining the temperature by adding additives like pour point depressants. This is one of the significant factor driving the
Stringent government regulations
There are stringent government regulations in almost every country around the world, regarding the food quality and standards for food, agri-food, packed food etc., which makes it compulsory for food manufacturers in the country to use the food grade lubricants in manufacturing of food. As per FDA rules, the food manufacturing companies have to follow certain process and standards in the production of food products. This is highly driving the food grade lubricants market.
Food Grade Lubricants Market Challenges
Environmental contaminations and Food contamination
Lubricants can be subjected to environmental contaminations. The manufacture of lubricants can significantly hamper the environment and can be subjected to intense environmental contaminants. This could cause severe water contamination. Therefore, there are several government rules, regulations and compliances regarding this issue. One of the major risks posed by food grade lubricants is the growth of microorganisms such as bacteria, yeast and fungi. This is could spoil the quality of food and thus an apprehension among the manufacturers to avoid using food grade lubricants in their manufacture. This could also invite unwanted government restrictions.
Food Grade Lubricants Market Industry Outlook
Innovation, expansions, partnership, acquisitions and mergers are some of the key strategies adopted by players in the Food Grade Lubricants Market. Major players in the Food Grade Lubricants Market are Lubrication Engineers, Condat Lubrifiants, Petro-Canada Lubricants Inc., Nye Lubricants Inc., JBS, Exxon Mobil Corporation, BP PLC, Royal Dutch Shell Plc, Kluber Lubrication and Fuchs Petrolub SE among others.
Acquisitions/Technology Launches
In September 2020, CONDAT acquired KEMNO, an Italian based Lubricant and sealant manufacturing company. This acquisition was done for expansion and easy availability of CONDAT’s products in Italy.
Key Market Players:
The Top 5 companies in the Food Grade Lubricants Market are:
- Lubrication Engineers
- Condat Lubrifiants
- Petro-Canada Lubricants Inc.
- Nye Lubricants Inc.
- Exxon Mobil Corporation
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