The global food grade mineral oil market is estimated to expand at a stable CAGR over the forecast period (2017 to 2021); according to a report available on Radiant Insights, Inc. Growing demand for hygienic food and cooking places owing to rising health awareness among consumers is anticipated to propel the global market. Such mineral oils are safe to be used on kitchen appliances such as butcher blocks and cutting boards for maintenance purposes.
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Growing health awareness and increasing emphasis on hygiene in kitchens and other cooking places is anticipated to propel the expansion of the market for food grade mineral oil in the coming years. Increasing use of cutting boards and butcher blocks in kitchens is likely to stimulate growth of the market. High demand for safe and health-oriented products can further foster market development in the next few years.
Increasing use of food grade mineral oil to maintain and restore wood and bamboo butcher blocks and cutting boards can spur growth of the market during the forecast period. Moreover, rising cases of health disorders and stringent government regulations are likely to promote the use of food grade mineral oils. Considering the rising demand, most companies are offering pure mineral oils which are safe for food and can easily be used to lubricate kitchen products.
For instance, Pure Mineral Oil launched by Brandon Bespoke is one of the food safe, odorless, tasteless, and clear products. It can be used on kitchen utensils made from wood, slate, and stone. This mineral oil can penetrate wood and other materials to protect and revitalize natural color and character. In addition, it can also increase the life span of the lubricated product. The oil is certified by the British Pharmacopoeia.
The food grade mineral oil market can be segregated on the basis of product type, application, and region. Based on product type, the market can be classified into series 3, series 5, series 7, and series 10. Based on applications, the market can be divided into release agent, processing equipment lubrication, and others. In the coming years, processing equipment lubrication is expected to generate maximum revenue owing to increasing adoption of product for lubricating various kitchen appliances such as butcher blocks and cutting boards.
Regional segmentation includes Germany, United Kingdom, Russia, France, and Italy. In Germany, the food grade mineral oil market is expected to witness significant growth in the forthcoming years owing to stringent food safety regulations from local government authorities. In addition, German Federal Institute for risk assessment (BfR) recommendations for food contact materials such as paper, plastics, rubbers and other relevant industry standards can impel growth of the market for food grade mineral oil during the forecast period.
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In United Kingdom, the food grade mineral oil market is anticipated to register a remarkable CAGR owing to increasing adoption and awareness regarding food safe products. In addition, increasing number of food grade product suppliers owing to growing health awareness can further drive the growth of the regional market over the forecast period.
Some of the leading companies operating in the food grade mineral oil market are Dow Chemical, Eastman Chemical, Petro Canada, BASF, and Flowserve Corporation.
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