Market Size of Food Grade Lubricants Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Food Grade Lubricants Market Analysis
The market for food-grade lubricants is expected to register a CAGR of over 5% globally during the forecast period.
The COVID-19 epidemic negatively impacted the market for food-grade lubricants. The lockdown and temporary suspensions in production facilities caused considerable damage to several applications, reducing food-grade lubricants' usage. Yet, beyond 2020, the market grew moderately due to ongoing initiatives in the main end-user categories.
- The primary factor driving the market studied is increasing food safety regulations. Also, the increased processed food demand is expected to drive the market forward.
- Conversely, awareness shortage and lack of training among manufacturers are hindering the market's growth.
- The increasing concern over food and beverage safety will likely be an opportunity during the forecast period.
- Europe is expected to dominate the global market with the most substantial consumption from countries such as Germany, the United Kingdom, and France.
