Food Grade Lubricants Market Trends Segment Analysis and Future Scope

1. Europe Is Dominating Food Grade Lubricants Market 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. The global food-grade lubricants market is witnessing growth and is projected to reach USD 516.5 million by 2030, growing at a CAGR of 7.9% during the projection period. This growth of the market can be credited to the increasing food protection worries throughout the globe armed with the surge in cases of foodborne illnesses. Download sample pages https://www.psmarketresearch.com/market-analysis/food-grade-lubricants- market/report-sample Recent technical improvements have caused in a substantial surge in the utilization of automated lubrication systems. The utilization of such systems decreases the odds of equipment failure by 50% while reducing maintenance prices. The systems are valuable for both mobile and static equipment where lubricant supply can be controlled at equal intervals. They also help to decrease the danger of contamination. In the past few years, there has been a surge in the burden of foodborne illnesses. Approximately 650 million individuals are suffering from such diseases throughout the world every year. Several food-associated illnesses are caused by unintentional contact with lubricants being used in machinery. Thus, there is a requirement for food-grade oils, in order to safeguard raw materials and also finished items from impurities. In recent years the mineral food-grade lubricants category accounted for the highest revenue of USD 159.0 million on the market and this category is set to grow at a compound annual growth rate of 8.3% during the projection period. This is because they are cheaper than other products, and have a high demand in the beverage, food, or cosmetics sectors. Furthermore, clienteles, today, have become more conscious of mineral oils than bio-based and synthetic oils. Moreover, the existence of a greater count of mineral oil manufacturers plays an important role in the development of the industry in this category. In recent years, the food category had the largest revenue share, of more than 60%, and it is projected to develop at a compound annual growth rate of 8.1% of this report: 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. during the projection period. This can be credited to the increasing consumption of dairy, confectionery, bakery, meat, poultry, and seafood items. Additionally, the growing customer knowledge, also more inclined toward the high-quality abilities of meat, is projected to drive the seafood and meat, poultry market. Browse the full report at: https://www.psmarketresearch.com/market- analysis/food-grade-lubricants-market In recent years, the European food-grade lubricants market produced the highest revenue share, of USD 89.1 million, and is estimated to advance at a compound annual growth rate of 8.1% in the coming few years. This can be ascribed to the presence of a deep-rooted and well-developed industrial market in the continent. Additionally, the post-recession retrieval of the overall economy combined with the increasing requirement for grease and oils in up-to-date machinery is projected to boost the growth of the market. The research offers market size of the global food grade lubricants for the period 2017–2030. Market Segmentation by Product •Mineral •Synthetic •Bio-based Market Segmentation by Application •Food •Beverages •Pharmaceuticals •Cosmetics •Others Market Segmentation by Region •North America Food Grade Lubricants Market oBy Product oBy Application oBy country – U.S. and Canada •Europe Food Grade Lubricants Market oBy Product oBy Application oBy country – Germany, U.K., France, Italy, Spain and Rest of Europe 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. •Asia-Pacific (APAC) Food Grade Lubricants Market oBy Product oBy Application oBy country – China, India, Japan, Indonesia, South Korea, and Rest of APAC •Latin America (LATAM) Food Grade Lubricants Market oBy Product oBy Application oBy country – Brazil, Mexico, and Rest of LATAM •Middle East and Africa (MEA) Food Grade Lubricants Market oBy Product oBy Application oBy country – Saudi Arabia, U.A.E., South Africa, and Rest of MEA 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved

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