Asia Pacific is estimated to be the largest market for food grade lubricants.

Northbrook, IL 60062 -- (SBWire) -- 10/04/2023 --The report "Food Grade Lubricants Market by base oil [Synthetic Oil, Mineral Oil, Bio-based], Application (Food, Beverages, Pharmaceuticals &Cosmetics), and Region (North America, Europe, Asia Pacific, MEA, South America) - Global Forecasts to 2027" The market is projected to reach USD 495 million by 2027, at a CAGR of 7.0% from USD 352 million in 2022. This growth is primarily triggered by the increasing demand for processed food products such as meat, bakery, dairy and sugar. Asia Pacific is the largest food grade lubricants market due to the demand from the food & beverages industry and stringent government regulations regarding food safety. The need to reduce the contamination of food is the primary reason for the adoption of food grade lubricants.

Browse in-depth TOC on "Food Grade Lubricants Market"
364 market data Tables
66 Figures
306 Pages

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=75393666

Synthetic oil is the largest food grade lubricants base oil of food grade lubricants market.
Synthetic food grade lubricants are formulated from artificially synthesized chemicals such as poly-alpha-olefins, polyalkylene glycols, silicones, and esters. It is projected to account for the largest share of the global food grade lubricants market, in terms of both value and volume, during the forecast period. Synthetic lubricants are relatively costlier than mineral oil based lubricants. The demand for synthetic lubricants is increasing in the food and beverages industry, owing to their high performance.

Food is estimated to be the largest application of the food grade lubricants market during the forecast period.
The food application includes all food processing industries such as dairy, confectionery, meat, animal feed, and breakfast foods, among others. It is the largest application for food grade lubricants. Food processing is one of the largest industries in the world and is growing at a rapid pace. Major food manufacturers have increased their production output to meet the high demand for processed food products. This requires the proper functioning of machinery in food processing industries. All these factors drive the demand for food grade lubricants in food application.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=75393666

Asia Pacific is estimated to be the largest market for food grade lubricants during the forecast period.
Asia Pacific is the largest market for food grade lubricants, followed by Europe and North America. It is expected to grow faster than other regions primarily due to the rapid growth of end-use industries. The region is witnessing high growth in the food & beverages industry, along with associated auxiliary industries. The rising income of middle-class families has increased the purchasing power of consumers; the rising working women population has boosted the consumption of convenience foods; this is propelling the region's food sector, and in turn, driving the food grade lubricants market growth.

The key market players profiled in the report include ExxonMobil Corporation (US), TotalEnergies SE (France), FUCHS Petrolub AG (Germany), BP plc. (UK), Petro-Canada Lubricants Inc. (Canada), Chevron Corporation (US), The DOW Chemical Company (US), Kluber Lubrication Munchen SE & Co. KG (Germany), SKF (Sweden) and Illinois Tools Works Inc. (US) among others.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com