Biobased Food Grade Lubricants Market Size (2024 –2030)

The Global Biobased Food Grade Lubricants Market was valued at USD 384.80 Million and is projected to reach a market size of USD 689.99 Million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 8.7%.

A growing number of industries, including the food and automotive sectors, are using bio-based lubricants. These lubricants are derived from plant or animal fats rather than petroleum. Natural oils undergo chemical modifications such as esterification, transesterification, and oxidation to improve their quality. Natural oils decompose more readily in nature, are less expensive, and are easier to obtain than regular oils. Because they contain a high amount of oleic acid, canola, sunflower, soybean, and rapeseed oils are the most often used natural oils for manufacturing these greases.

Key Market Insights:

The growing need for non-toxic and ecologically friendly lubricants in the food processing sector is expected to propel the growth of the global biobased food-grade lubricants market, which is projected to be worth approximately $400 million. The European region holds a significant market share of approximately 35% in the global biobased food-grade lubricants market. This can be attributed to strict regulations and consumer preferences for environmentally sustainable products. Because plant-based oils are widely available and biodegradable, they account for a market share of more than 60% in the biobased food-grade lubricants market. Due to the requirement for lubricants that adhere to food safety regulations, the food processing equipment segment makes up approximately 45% of the total biobased food-grade lubricants market. The market for biobased food-grade lubricants is anticipated to expand at a pace of approximately 6% per year due to the growing need for lubricants that are appropriate for use in bottling and packaging machinery in the beverage industry.

Global Biobased Food Grade Lubricants Market Drivers:

Growing consumer concerns about food safety could lead to an expansion of the market for biobased food-grade lubricants.

An important factor contributing to the anticipated growth of the food-grade lubricant market is the increased concern over food safety among consumers. To avoid illnesses like food poisoning, businesses are under pressure to maintain clean facilities, and consumers are becoming more aware of this. Nations such as China, Russia, and India are enacting more stringent regulations to guarantee the quality of their food. This is an opportunity for manufacturers of food-grade lubricants to demonstrate the safety of their goods.

Growing demand for packaged and processed foods may be driving the market for biobased food-grade lubricants.

Around the world, as cities expand, lifestyles change, and people become busier, an increasing number of people are purchasing packaged and processed food. This is particularly true in nations with higher spending rates, such as China and India. As a result, special oils used in food processing equipment are in greater demand. These oils, which are primarily used to keep food safe from contamination, also help lower heat and friction within the machinery and keep it from breaking. However, since there are so many businesses producing these oils and going up against one another, they must differentiate their offerings.

Biobased Food Grade Lubricants Market Challenges and Restraints:

The fact that many people are unaware of the advantages of using food-grade lubricants is a major issue facing the lubricant industry. Because regular lubricants are less expensive and people are unaware of better options, people in developing nations frequently use them instead. Merely 25% of the lubricants utilized in the food industry in regions such as the United States and Western Europe are classified as food-grade. People occasionally confuse the incorrect type of lubricant for the proper one, which can contaminate food and lead to serious issues. Using the incorrect lubricant can result in significant food and financial waste.

Biobased Food Grade Lubricants Market Opportunities:

There are lots of opportunities in the market for biobased food-grade lubricants. Lubricants derived from renewable resources, such as plants, have a lot of potential as environmental concerns grow. The need for effective and safe lubricants to keep machinery operating smoothly is increasing as the food processing sector expands. Businesses can also benefit from technological developments by producing better lubricants that function well in a variety of scenarios. Companies have an opportunity to differentiate themselves from the competition by producing lubricants that meet the stricter environmental and food safety regulations. Additionally, the market is growing into new areas, particularly in those where industries are rapidly expanding. Businesses can leverage this growing concern for the environment and health to highlight the advantages of biobased lubricants and look into new uses for them outside of food processing.

BIOBASED FOOD GRADE LUBRICANTS MARKET REPORT COVERAGE:

Global Biobased Food Grade Lubricants Market Segmentation: By Application

• Food

• Bakery

• Dairy

• Sugar

• Meat

• poultry & seafood

• Animal feed

• Others

• Beverages

• Pharmaceuticals

• Cosmetics

The food industry generates more than 60% of its revenue from food-grade lubricants. This is a result of increased consumption of bread, dairy products, chicken, meat, and seafood. People's desire for healthier meat options is driving growth in the poultry, meat, and seafood industries. Because of their hectic schedules and the misconception that meat is a superior source of protein to a vegetarian diet, people are also consuming an increasing amount of processed and ready-to-eat meats. The global trend of youth alcohol consumption is driving significant growth in the alcoholic drink market. Fruit-based drinks are in greater demand as people try to lead healthier lives. People are choosing fruit drinks more frequently because they are concerned about health problems like obesity. FDA and ISO-approved food-grade lubricants are used in pharmaceuticals. The pharmaceutical industry is growing due to increased consumer concern over health and increased investment in the development of new medications by pharmaceutical companies. Individuals are becoming more aware of skin care practices and aspire to have skin that is clear and youthful-looking. Food-grade lubricants are used by manufacturers of skincare products like creams and lotions. Food-grade lubricants are becoming more and more popular due to the rising demand for cosmetics like skincare and makeup.

Global Biobased Food Grade Lubricants Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

Due to the advanced factories in the region, the food-grade lubricants industry in Europe is the most profitable, with an approximate profit margin of 54%. The market is anticipated to expand as well because machines require more grease and lubricants as the economy bounces back from a difficult period. Europe is seeing a rise in the consumption of processed foods and beverages, which increases the demand for bio-based lubricants to maintain machinery. People want safer food because they are becoming more conscious of their health. Companies employ superior lubricants to comply with Europe's stringent food safety regulations. Over 240,000 factories in Europe use lubricants that are suitable for food use. With an annual growth rate of 8.5%, the food-grade lubricant market in the Asia-Pacific area is expanding at the fastest pace. This is a result of an increase in the consumption of processed food in nations like China, India, and Japan. These nations use a lot of plant- and animal-based lubricants to protect machinery in the food processing, cosmetics, and pharmaceutical industries. The need for food-grade lubricants will rise as a result of research initiatives aimed at creating better, more environmentally friendly lubricants. China is anticipated to be the largest market for food-grade lubricants in the Asia-Pacific area. China's government is developing regulations to encourage the use of environmentally friendly bio-based lubricants.

COVID-19 Impact on the Global Biobased Food Grade Lubricants Market:

The pandemic disrupted the standard manufacturing and delivery processes, which negatively impacted the food-grade lubricant industry. Initially, it was difficult for businesses to produce goods like food, beverages, and cosmetics. However, as consumers' concerns about food safety grow, they will likely use more food-grade lubricants in the future.

Latest Trend/Development:

Several trends are influencing the biobased food-grade lubricant market. An increasing number of people are concerned about the environment, which is why lubricants derived from plant-based renewable resources are popular. Companies are working hard to ensure that their lubricants meet the stricter regulations that governments are enforcing regarding pollution and food safety. Better lubricants that can withstand high temperatures and challenging conditions in food processing machinery are being produced as a result of technological advancements. There's a lot of innovation going on in the food industry; companies are creating customized lubricants for various applications. This market is expanding globally, particularly in nations where industries are growing quickly, rather than only in regions like the US and Europe. This growth is being driven by companies and research institutions' collaborative efforts to develop new and improved lubricants for the food industry.

Key Players:

1. Exxon Mobil Corporation

2. CITGO Petroleum Corporation

3. Total S.A.

4. Petro-Canada Lubricants Inc

5. Chevron Corporation

6. Dow

7. Royal Dutch Shell

8. Lanxess Corporation

9. Lubriplate Lubricants Company

10. Metalube

Market News:

• Metalube Ltd. unveiled new high-performance chain oils in February 2022. These oils contain unique components that improve machinery performance, reduce carbon buildup to keep food clean, effectively manage heat, and increase equipment efficiency.

• Metalube introduced Metachain FG-30, a chain oil, in February 2022. It's designed to work with various appliances, such as rolling hotplates and portable bread ovens.