Global Food Grade Lubricants Market is expected to reach ~USD 500 Mn by 2028F: Ken Research
Global Food Grade Lubricants Market By Geography
The Global Food Grade Lubricants market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Europe accounted for the largest market share within the global food-grade lubricants market in 2022, owing to the presence of various renowned companies.
According to European Commission, the food and drink industry is the EU’s biggest manufacturing sector in terms of jobs and value-added. The rising food and drink industry are likely to fuel the demand for food-grade lubricants.
Presence of leading companies operating in adult incontinence products, like Lanxess, Eni, SKF, FUCHS Petrolub SE, and others, will catalyze the expansion of this market.
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Competition Scenario In Global Food Grade Lubricants Market
The global food-grade lubricants market is significantly competitive with ~100 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in manufacturing food-grade lubricants products for various applications. Country-niche players comprise the largest share by competitor type, while large global players comprise about 15% of the competitors by type. Some of the major players in the market include CITGO, Lanxess, Exxon Mobil, Eni, SKF, FUCHS Petrolub SE, Dow Chemical Company, Total Energy, ENEOS Corporation, Phillips 66, and others.
What is the Expected Future Outlook for the Overall Global FOOD GRADE LUBRICANTS Market Across the globe?
The Global Food Grade Lubricants market was valued at USD ~million in 2022 and is anticipated to reach USD ~500 Million by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Food Grade Lubricants market is driven by strict government rules and regulation on mandating the usage of food-grade lubricants. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Food Grade Lubricants market is changing rapidly. For instance, In September 2022, Piedmont Lithium announced an investment of US$582 million to establish a lithium hydroxide processing, refining, and manufacturing facility in Southeast Tennessee.
In February 2022, RelaDyne acquired The Farley Company, a distributor of an extensive line of lubrication and chemical products. This acquisition will expand RelaDyne’s distribution capabilities in the northern Ohio area, Columbus, and Akron markets.
In June 2021, the FUSCH group acquired Gleitmo Technik AB, Sweden to strengthen the specialty lubricating business.
The global food-grade lubricants market witnessed significant growth during the period 2017-2021, owing to the increasing application of food-grade lubricants in the food and beverage industry. The growth rate is expected to remain significant during the forecast period.
Though the market is significantly competitive with ~100 participants, the majority of country-niche players dominate the market share by type, and global players hold a significant market share.
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Key Topics Covered in the Report
- Snapshot of the Global Food Grade Lubricants Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Food Grade Lubricants Market
- Historic Growth of the Overall Global Food Grade Lubricants Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Food Grade Lubricants Industry
- Overview, Product Type Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Food Grade Lubricants Market
- Future Market Forecast and Growth Rates of the Total Global Food Grade Lubricants Market and by Segments
- Market Size of Type/End-Users Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Food Grade Lubricants Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Major Players Mentioned in the Report
- CITGO
- Lanxess
- Exxon Mobil
- Eni
- SKF
- FUCHS PETROLUB SE
- Dow Chemical Company
- Total Energy
- ENEOS Corporation
- Phillips 66
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Notable Emerging Companies Mentioned in the Report
- Cocoon Biotech
- ADBioplastics
- BioMed Element
- XAMPLA
- Cypris Materials
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Food-Grade Lubricants Manufacturing Companies
- Food-Grade Lubricants Suppliers
- Food-Grade Lubricants Material Producers
- Potential Investors in Food-Grade Lubricants Companies
- Lubricants Producers
- Edible Oil Manufacturers
- Consulting Companies in the Chemical Market
- Government And Research Organizations Working in the Chemical Industries
- Investment Banks Targeting the Edible Oils Industry
- PE and VC Firms focused on Food Industry
- Investment Banks Targeting Food Industry
- Government Ministries and Departments of Food Industry
- Food Research Institutes
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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