Food Grade Lubricants Market is expected to expand at a CAGR of 8.6% from 2021 to 2028.
Food Grade Lubricants Industry Overview The global food grade lubricants market size is expected to reach USD 657.2 million by 2028, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028. The growth is majorly driven by rising demand from end-use industries and rising awareness for sustainable alternatives over petrochemical feedstock such as bio-based products coupled with expanding the food and beverages industry. Food Grade Lubricants Market Segmentation Grand View Research has segmented the global food grade lubricants market on the basis of product type, application, and region: Based on the Product Type Insights, the market is segmented into Mineral, Synthetic and Bio-based The mineral product segment dominated the market for food-grade lubricants and accounted for the largest revenue share of more than 61.0% in 2020. Mineral food grade lubricant is preferred for machinery like hydraulic sy...