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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https://www.kenresearch.com/business-research/global-food-grade-lubricants-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.