Global Used Cooking Oil Market Insights Forecasts to 2032

• The Global Used Cooking Oil Market Size was valued at USD 6.2 billion in 2022
• The market is growing at a CAGR of 6.4% from 2022 to 2032
• The Worldwide Used Cooking Oil Market size is expected to reach USD 11.6 billion by 2032
• Asia Pacific is expected to grow the fastest during the forecast period

 

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The Global Used Cooking Oil Market is anticipated to reach USD 11.6 billion by 2032, at a CAGR of 6.4% over the predicted period from 2022 to 2032. The global Used Cooking Oil (UCO) market will expand significantly due to increased awareness of sustainable energy resources and environmental conservation. The latest developments in technologies used to convert waste cooking oil into high-quality refined oil will benefit the overall market's expansion. The rapidly evolving food and foodservice sector, which includes novel preparations, has had a direct impact on UCO's overall production. Increased government initiatives to promote UCO utilization for industrial applications are projected to fuel market growth in the coming years.

 

Market Overview

The global used cooking oil market refers to the market for the collection, processing, and distribution of used cooking oils that are generated from homes, restaurants, and food processing industries. Used cooking oils are recycled and used as raw materials for producing biofuels, animal feed, and other industrial applications. The repeated use of cooking oils in hotels, restaurants, food processing units, and household sectors leads to the used cooking oil (UCO), also known as waste vegetable oil. It is leftover cooking oil made from sunflower, corn, canola, olive, palm, rapeseed, soya, and other oils and fats. It is also available in a variety of mixed compositions. UCOs that have been recycled and processed are commonly used in the production of soaps, composts, oleochemicals, hydrogenated vegetable oils (HVO), industrial greases, biodiesels, and animal feed. In comparison to conventional materials, UCO is highly cost-effective, environmentally friendly, and readily available in bulk quantities for mass production of a variety of products.

 

The market for used cooking oil is driven by the increasing demand for sustainable and eco-friendly energy sources, as well as the growing need for waste management solutions. The increasing awareness of the harmful effects of traditional fossil fuels on the environment and the need to reduce greenhouse gas emissions are also driving the demand for biofuels.

 

Report Coverage

This research report categorizes the market for the global used cooking oil market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the used cooking oil market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the used cooking oil market.

 

Driving Factors

The increasing demand for sustainable and eco-friendly energy sources has led to a rise in demand for biodiesel. Used cooking oil is a key raw material used in the production of biodiesel, which is a renewable and cleaner energy source than traditional fossil fuels. This has led to a surge in demand for used cooking oil, thereby driving the growth of the market. Several governments around the world are promoting the use of biofuels to reduce greenhouse gas emissions and achieve their carbon reduction targets. This has led to the implementation of various regulations and incentives that support the growth of the used cooking oil market.

 

The awareness about the benefits of using used cooking oil as a raw material for the production of biofuels, animal feed, and other industrial applications has been growing steadily. This has led to a surge in demand for used cooking oil, driving the growth of the market. Used cooking oil is also used as a key ingredient in animal feed. The increasing demand for animal feed, especially in developing countries, has led to a rise in demand for used cooking oil, further driving the growth of the market.

 

Restraining Factors

The collection of used cooking oil requires a robust infrastructure that includes collection centers, transportation, and storage facilities. In many parts of the world, there is a lack of such infrastructure, which can limit the growth of the used cooking oil market. The quality of used cooking oil can vary depending on the source and the way it has been used. This can lead to concerns about the quality of the raw material used in the production of biofuels and other products, thereby limiting the growth of the market. The market for biofuels is becoming increasingly competitive, with several alternative raw materials being used in the production of biofuels. This can limit the growth of the used cooking oil market, as it faces competition from other biofuels.

 

Market Segmentation

The Global Used Cooking Oil Market share is classified into source and applications.

 

• The food services segment is estimated to hold the largest market over the forecast period. 

Based on the source, the global used cooking oil market is differentiated into food services and households. Among these, the food services segment is anticipated to hold the largest market over the forecast period. The reason behind the growth is, the food services segment is increasingly adopting sustainable practices, such as the use of renewable energy sources and recycling of waste products. Many food service establishments are partnering with collection companies and waste management firms to recycle their used cooking oil, which can then be sold to biodiesel producers and other companies. The food services segment is also expected to benefit from government regulations and incentives that promote the use of biofuels and other sustainable energy sources. For instance, in many countries, food service establishments are required to dispose of their used cooking oil in an environmentally responsible manner. This has led to the development of collection programs and initiatives that encourage restaurants and other food service establishments to recycle their used cooking oil.

 

• The industrial usage segment is expected to hold the largest market during the forecast period.

On the basis of applications, the global used cooking oil market is classified into industrial usage, animal feed, and others. Among these, the industrial usage segment is expected to hold the largest market during the forecast period. The growth can be attributed due to, the industrial usage segment includes the use of used cooking oil in various industries such as chemical, cosmetics, and pharmaceuticals. Used cooking oil is a valuable raw material for these industries as it contains fatty acids, glycerol, and other useful compounds that can be used to produce a range of products such as soap, biodiesel, and lubricants. The widespread use of UCO in the production of fuels drives the expansion of the industrial application segment. Advances in the technologies used to process waste cooking oil have encouraged its use in a variety of industrial processes.

 

Regional Segment Analysis of the Used Cooking Oil Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Europe is expected to hold the largest share of the Global Used Cooking Oil Market during the projected period.

 

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Europe is the largest market for used cooking oil, owing to the high level of awareness about the importance of sustainable and eco-friendly energy sources in the region. The European Union has implemented various regulations and initiatives that encourage the recycling and reuse of used cooking oil for the production of biofuels and other products. This has led to the development of a well-established used cooking oil market in the region.

 

Asia-Pacific is expected to grow at the fastest rate in the global used cooking market during the forecast period, owing to the increasing demand for biofuels and other sustainable energy sources in the region. Countries such as China and India are witnessing rapid urbanization and industrialization, which has led to a surge in the volume of used cooking oil generated in the region. This has created opportunities for the development of collection and recycling programs, and the growth of the used cooking oil market in the region.

 

North America is another important market for used cooking oil, driven by the increasing demand for biodiesel and other sustainable energy sources in the region. The United States is the largest market in the region, and is witnessing significant growth in the use of used cooking oil for the production of biofuels.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global used cooking oil market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• GreaseCycle 
• MBP Solutions Ltd
• Oz Oils Pty. Ltd. 
• Brocklesby Limited
• Baker Commodities, Inc.
• Veolia Environment S.A.
• Olleco Ltd. (UK)
• Argent Energy   
• Grand Natural, Inc.
• ABP Food Group
• Arrow Oils Ltd.
• Valley Proteins, Inc. 
• Proper Oils Co. Ltd.

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In November 2022, Neste announced the acquisition of Crimson Renewable Energy Holdings, LLC's used cooking oil (UCO) collection and aggregation business and related assets on the US West Coast. 

 

• In February 2022, St1 Nordic Oy, an energy company, has acquired 100% of Brocklesby Ltd. Brocklesby is an expert in the recycling of used cooking oil and fatty food waste.

  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Used Cooking Oil Market based on the below-mentioned segments:

 

Global Used Cooking Oil Market, By Source

• Food Services
• Households

 

Global Used Cooking Oil Market, By Applications

• Industrial Usage
• Animal Feed
• Others

 

Global Used Cooking Oil Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa