Food Grade Lubricants Market Projected to Reach 256.5 Million USD by 2021

The report “Food Grade Lubricants Market by Base Oil (Mineral, Synthetic (PAO and PAG), and Bio-Based), Application (Food (Bakery, Sugar, Dairy, Meat Poultry, and Sea Food), Beverages, Pharmaceuticals & Cosmetics) – Global Forecast to 2021”, The global market size of food grade lubricants is projected to reach 64.45 kilotons by 2021, registering a CAGR of 6.7% from 2016. In terms of value, the market size for food grade lubricants is projected to grow at a CAGR of 7.0% from USD 182.8 Million in 2016 to USD 256.5 Million by 2021.

Browse 83 market data Tables and 53 Figures spread through 170 Pages and in-depth TOC on “Food Grade Lubricants Market – Global Forecast to 2021”
https://www.marketsandmarkets.com/Market-Reports/food-grade-lubricants-market-75393666.html

Early buyers will receive 10% customization on this report.

The rapid growth of the healthcare industry, increased demand for processed food in the Asia-Pacific region, and growth of auxiliary industries such as packaging have led to the growth of the food grade lubricants market.

Mineral oil-based food grade lubricants to account for the major share of the market till 2021

The food grade lubricants market is segmented by base oil, namely, mineral oil, synthetic oil (PAO, PAG,), and bio-based oil. In 2015, mineral oil-based food grade lubricants accounted for the maximum share of the overall market and are expected to witness moderate growth rate during the forecast period. The dominance of mineral oil-based food grade lubricants is attributed to its low cost and easy availability. However, the demand for synthetic oil based food grade lubricants is expected to increase because of its advance properties and rising awareness regarding its better performance.

Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=75393666

The food segment to be the largest application for the food grade lubricants market between 2016 and 2021

The food application accounted for the largest share in the food grade lubricants market. Food is further segmented into bakery, sugar, dairy, meat poultry and sea food. The food grade lubricants market in food application is mainly driven by the rapid growth in the processed food industry, and increased concern over food safety across the globe.

Europe to be the largest market during the forecast period

The food grade lubricants market is broadly segmented into five regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Europe is the largest market, followed by North America; however Asia-Pacific is projected to be the fastest-growing market during the forecast period. This dominance of the European region is mainly due to the stringent food safety regulations coupled with the increased awareness among manufacturers.

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

Currently, the global food grade lubricants market is dominated by various market players such as Fuchs Petrolub SE (Germany),BP PLC (U.K.), Total S.A. (France), Petro-Canada Lubricants Inc. (Canada), Exxon Mobil Corporation (U.S.), Kluber Lubrication Munchen SE & CO. KG (Germany), AB SKF (Sweden), Chemtura Corporation (U.S.), Illinois Tool Works Inc. (U.S.), and Jax Inc. (U.S.).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets

You May Also Like