Zion Market Research, the market research group announced the analysis report titled ‘Food Grade Lubricants Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024’
Global Food Grade Lubricants Market: Overview
Food grade lubricants are nothing but the additives to the food items that are added indirectly. Oil or grease can become a food additive due to over lubrication, through leaks, messy application during maintenance, and others.
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Global Food Grade Lubricants Market: Growth Factors
Use of advanced technology in industry has boosted the global food grade lubricants market. Increasing demand for food grade lubricants due to rising demand has elevated the growth of global food grade lubricants market. Major companies opting for food-grade lubricants is the trend in the industry, which indirectly is driving the global food grade lubricants market.
Further, the growing job opportunities led to the elevation of global food grade lubricants market. Increased number of the food lubricants, growing awareness of their advantages, low cost of raw material, and cheap labor are driving the global food grade lubricants market. In addition to this, the global food grade lubricants market is witnessing a huge growth due low cost for maintenance. Another factor driving the global food grade lubricants market is low transportation charges.
Unawareness among people in rural areas is another factor that is restraining the growth of global food grade lubricants market.
Global Food Grade Lubricants Market: Segmentation
Based on the type of oil, the global food grade lubricants market is segmented as mineral oil and synthetic oil. Further, synthetic oil is divided as PAG (polyethylene glycol), PAO (polyalphaolephins), and others (esters and silicones). On the basis of the type of application, the global food grade lubricants market is segmented into food, pharmaceuticals & cosmetics, beverages, and others. The others segment is further sub-segmented as food grade lubricants blending, packaging, and food machinery manufacturing. Further, food is bifurcated as a bakery, dairy, sugar, poultry, meat, seafood, and others. The others segment is further sub-segmented as confectionery food, animal feed, and breakfast food.
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Global Food Grade Lubricants Market: Regional Analysis
Geographically, North America is leading the global food grade lubricants market. This is due to the United States Department of Agriculture, which rolled out strict rules for food safety. Countries such as India, Australia, China, Japan, New Zealand, Brazil, and South Africa show potential growth in global food grade lubricants market. Moreover, increased use of advanced technologies in these countries has led to the growth of the global market.
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Global Food Grade Lubricants Market: Competitive Players
Key players in the race to global food grade lubricants market consist of BP PLC, Exxon Mobil Corporation, Total S.A., and Royal Dutch Shell Plc. Other contenders include Kluber Lubrication Munchen SE & Co. KG, Fuchs Petrolub SE, Petro-Canada Lubricants Inc., Pepsico Inc., Coca-Cola Co., Nestle, and JBS USA.
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