Food Grade Lubricants Market To Witness A Significant Growth Of USD 657.2 Million By 2028
San Francisco, 15 March 2022: The Report Food Grade Lubricants Market Size, Share & Trends Analysis Report By Product Type (Mineral, Synthetic, Bio-based), By Application (Food, Beverage, Pharmaceuticals), By Region, And Segment Forecasts, 2021 - 2028 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. Bio-based lubricants have registered comparatively slower market growth in the past couple of decades due to their limited application scope, poor public image, higher prices, performance shortcomings, and more. However, with increased supply of high-performance, technologically advanced, cos