Food Grade Lubricants Market Size, Trends, Applications, and Industry Strategies

In 2021, the global food-grade lubricants market valued $260.1 million in revenue, and it is set to reach $516.5 million by 2030, growing at a 7.9% CAGR from 2021 to 2030, according to the market research report published by P&S Intelligence.

The significant rise in the use of automated lubrication systems is credited to recent technological advancements. These solutions reduce the possibility of equipment failure by 50%, while also decreasing the cost of maintenance. They can be used for both kinds of equipment, mobile and static, where the supply of the lubricant can be controlled at equal intervals.