IMARC Group, a leading market research company, has recently releases report titled, “Used Cooking Oil Market: Global Size, Share, Growth, Industry Trends, Opportunity and Forecast 2023-2028“, the global used cooking oil market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.
What is Used cooking oil?
Used cooking oil (UCO), also called waste vegetable oil, is prepared by the repeated use of cooking oils in restaurants, food processing units, hotels, the household sector, etc. It is usually obtained from canola, olive, palm, sunflower, corn, rapeseed, soya oils, and animal fats. UCO is commonly available in mixed compositions. Recycled and processed used cooking oils find extensive applications in the manufacturing of composts, oleochemicals, soaps, hydrogenated vegetable oils (HVO), industrial greases, biodiesels, animal feed, etc. As compared to the traditionally used materials, it is environment-friendly, highly cost-effective, and readily accessible in bulk quantities for mass production of several products.
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What are the growth prospects and trends in the used cooking oil industry?
The shifting consumer preferences from petroleum-based fuels towards biodiesel and green energy fuels with a lower carbon footprint are primarily driving the used cooking oil market. Additionally, the widespread adoption of UCO in the manufacturing of animal feed is further bolstering the market growth. Besides this, the rising usage of these oils in the preparation of fast food and fried items that are processed is acting as another significant growth-inducing factor. Moreover, the introduction of innovative ozone-treated oils by leading manufacturers with high calorific value and lower ignition points is positively influencing the global market. Apart from this, the inflating popularity of UCOs as a fermentation media component that generally acts as a carbon source in microorganisms for the production of biodiesel is also stimulating the market growth. Furthermore, continuous improvements in processing and manufacturing technologies are anticipated to fuel the used cooking oil market over the forecasted period.
Who are the key players operating in the industry?
- ABP Food Group,
- Arrow Oils Ltd,
- MBP Solutions Ltd.,
- OZ OILS Pty. Ltd.,
- Baker Commodities Inc.,
- Brocklesby Ltd,
- Grand Natural Inc.,
- Greasecycle, LLC,
- Valley Proteins, Inc.
- Veolia Environment S.A.
The report has segmented the market on the basis of source, application and region.
Breakup by Source:
- Household Sector
- Commercial Sector
Breakup by Application:
- Biodiesel
- Oleo Chemicals
- Animal feed
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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