Used Cooking Oil Market: By Source (Food Manufacturers, Restaurant and caters, Household, Hotels and others), By Application (Biodiesel, Oleo chemical Products, Animal Feed and others) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Used Cooking Oil (UCO) is even termed as waste vegetable oil. Used cooking oil is resultant of the repeatedly used vegetable cooking oil used in commercial and household sectors. Used cooking oil can be obtained from vegetable oils like soya, sunflower, palm etc. The composition may even be mixed of all the oils. This oil has several applications like for maintenance of blades and shovels to prevent sticking of debris, to lubricate old doors and locks etc.
The Used Cooking Oil Market was valued at 7.74 billion USD in 2021 and is expected to exceed 13.7 billion USD by 2032, increasing at a CAGR of 5.4% during the forecast period, 2022-2032 owing to the increased usage of used cooking oil in feedstock and for biodiesel production which will drive the growth of the used cooking oil market. Used Cooking Oil has several applications as bio lubricants, to produce hydrogen gas, as animal feed, grease, oleo chemicals etc which created demand for used cooking oil and aids in the growth of the market. The governments initiatives for converting used cooking oil to biodiesel may create major growth opportunity for used cooking oil market.
Used Cooking Oil Market is classified based on the Source into Food Manufacturers, Restaurant and caters, Household, Hotels and others. The Food Manufacturers segment dominated the market in 2021 owing to the increased dining out cultures which led to the segment. The setting up of several cafes & restaurants due to the rising interest to try new cuisines resulted in increased demand of Used Cooking Oil market. The increase in number of fast-food centres also aid to the growth of the market. The growth is also contributed due to the rising regulations & policies by governments to collect the waste cooking oil from hotels & restaurants.
Used Cooking Oil Market is classified based on the Application into Biodiesel, Oleo chemical Products, Animal Feed and others. The Biodiesel segment dominated the market in 2021 owing to increased usage of used cooking oil by biodiesel producers as the cost of this used oil is less expensive when compared to the vegetable oil and is expected to boost the growth of the segment.
Increasing Use of UCO Drives the Market Growth
Several advancements in recycling waste is encouraging conversion of waste products to useful products using novel technologies that are environment friendly. Used Cooking Oils can be refined into several bio-fuels for power generation. The Biodiesels originated from waste cooking oil have low carbon footprint, emit less carbon monoxide, burns clear and is cost-effective which is creating demand for UCO and is driving the growth of the market.
Increasing Government Initiatives is Expected to Boost the Market Growth
Several governments worldwide are focusing on creating public awareness by enabling regulatory policies to encourage collecting Used Cooking Oils. Governments are launching programs to convert used-cooking oil into biodiesel and to launch new apps for collecting the oil. Many guidelines were setup for restaurants to follow cooking oil disposal which aims preventing inappropriate disposal of waste oil.
Lack of Awareness Regarding Use of UCO may Restrain Market Growth
Lack of awareness among the people regarding the use of used cooking oil may restrain the market growth. The increased theft of used cooking oil and the challenges faced during the refinement of UCO may restrict the growth of the market. The high amount of impurities present in the oil limits the utilization in animal feed due to safety purposes and may hamper he market growth.
??In January 2020, BioD Energy reported to start two new biodiesel processing plants to manufacture biodiesel utilizing waste oil.
In August 2020, Phillips 66 Humber Refinery declared expansion of its production site in Immingham.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Used Cooking Oil Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Based on regional analysis, North America accounted for the largest market share in 2021 owing to the current developments that promote the use of used cooking oil for generating sustainable fuel. Several Governments are focusing on policies to promote collection and processing of waste cooking oils from restaurants, cafes, hotels, etc. Asia Pacific is expected to project dominance owing to the increased environmental awareness and sustainable energy resources.
The COVID-19 pandemic disrupted global supply chains. The lockdowns and travel norms in countries have resulted in shutdown of several industries including the food industry by reduced supply of used cooking oil. The production, collection, recycling of waste cooking oil was not possible and the pandemic had a negative impact on the used cooking oil market.
Market size value in 2021
USD 7.74 billion
Revenue forecast in 2032
USD 13.7 billion
CAGR of 5.4% from 2022 to 2032
Base year for estimation
Revenue in USD billion and CAGR from 2022 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Source, Application and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
Valley Proteins, Inc., Arrow Oils Ltd, Brocklesby Limited., GRAND NATURAL INC., Olleco, Oz Oils Pty Ltd, Greasecycle, LLC, Proper Oils Company Ltd., Baker Commodities Inc., Waste Oil Recyclers,, Heat and Control, Inc. and Other Prominent Players
Used Cooking Oil Market size was estimated at USD 7.74 billion in 2021 and is expected to reach USD 13.7 billion in 2032.
Used Cooking Oil (UCO) is even termed as waste vegetable oil. Used cooking oil is resultant of the repeatedly used vegetable cooking oil used in commercial and household sectors. Used cooking oil can be obtained from vegetable oils like soya, sunflower, palm etc. The composition may even be mixed of all the oils.
Food Manufacturers and Biodiesel segment accounted for the largest Used Cooking Oil market share.
Key players: Valley Proteins, Inc., Arrow Oils Ltd, Brocklesby Limited., GRAND NATURAL INC., Olleco, Oz Oils Pty Ltd, Greasecycle, LLC, Proper Oils Company Ltd., Baker Commodities Inc., Waste Oil Recyclers,, Heat and Control, Inc. and Other Prominent Players are the key players in the Used Cooking Oil Market.
Increasing Use of UCO and Increasing Government Initiatives are the factors driving the Used Cooking Oil market.
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