WD-40 Food Grade Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030
WD-40 Food Grade: Market Outlook
The food processing and packaging process needs lubrication for smooth workflow of equipment, just like any other industry. For the lubrication to be used for food processing, it has to be safe for human consumption as it will be in contact with food during the process. WD-40 food grade is such a product that can be used for food application and production processes with the utmost safety to be consumed by humans.
Due to the rapid growth in awareness importance of the food grade lubricants in food processing, countries like India and China with large-scale development in the food industry are expected to grow at a high rate. The government of the two countries is planning to layout rules and regulations for its application that will encourage manufacturers to buy WD-40 food grade.
The increasing inclination of the consumer base towards processed food is the reason that North America has the largest market share globally for the consumption of WD-40 food grade. An increase in awareness and health consciousness in the population, especially the U.S. is leading WD-40 food grade to achieve higher revenue.
WD-40 Food Grade: Market Dynamics
With the growing food and beverage industry, a large number of manufacturers are shifting towards large-scale production as they achieve economies of scale. For the maintenance of these huge machines and to increase the lifetime and enhance the performance of those is to regularly treat them with food grade lubricants like WD-40 food grade. The ability of Wd-40 food grade to resist heat from friction and prevent corrosion is the reason WD-40 food grade is able to mark its sales footprint all over the world.
Increasing demand for food products like meat, dairy, oilseed, and other food items that processed and packed food, food grade WD-40 is used to prevent from and wear and tear. WD-40 food grade is not just applicable for products of the food and beverage industry but also can be used in the healthcare and pharmaceutical industry as it is safe for human consumption.
The restraining force that is preventing the market to grow further is that WD-40 food grade is occasionally leading to the growth of microbes in the product as it gets in contact that ruins the product, or sometimes the whole batch. Research and development are required for eliminating this concern for more efficient application in the food industry.
WD-40 Food Grade: Market Segmentation
Based on Nature, WD-40 Food Grade Market can be segmented as:
Based on Base Oil, WD-40 Food Grade Market can be segmented as:
WD-40 Food Grade: Market Players
WD-40 is a California based company founded in 1953, dedicated to creating a product line to prevent rust and degreaser. Presently, the company is enjoying a monopoly in the market as over 4 out of 5 American households is found to be the consumer of WD-40.
Opportunity for Players in the Global Market
As WD-40 has created the market presence of lubricants to be used in the food and beverage industry, market players of the lubricants industry will have opportunities to get introduced in the market with a similar product. Familiarity if the product with the product will make entry to the market easier for the manufacturer.
Manufacturers aspiring to enter the market are working on product innovation and adding more features to the product such as ease of application, handling, and storage. Food grade lubricants to be manufactured are aerosols for ease of application and also will allow the lubricant to enter the hidden parts of the machinery.
Compliance with the authorized institution is another opportunity that will give the manufacturers credibility as the application of the product will be marked safe for food products. Manufacturers have to mandatorily match its operation with U.S. Food and Drug Administration (FDA) 21 CFR 178.3570, and guidelines of the National Sanitation Foundation (NSF) under H-1 registration. These two compliances will give the manufacturer a green sign for the usage of the product for food grade applications.
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