Market Size:

The global used cooking oil market size was USD 7.09 billion in 2023 and is projected to grow from USD 7.54 billion in 2024 to USD 13.96 billion by 2032 at a CAGR of 8.00% during the forecast period (2024-2032).

The presence of several large scale UCO refineries will have a massive impact on the growth of the overall market. According to a report published by Fortune Business Insights, titled “Used Cooking Oil Market Size, Share & Industry Analysis, By Source (Food Services and Households), Applications (Industrial Usage, Animal Feed, and Others), and Regional Forecast, 2024-2032,” the market was worth USD 7.54 billion in 2024 and will exhibit a CAGR of 8.00% during the forecast period 2024-2032.

Used cooking oil can be put to several applications across diverse industry verticals. With the gradual, yet serious depletion of natural resources that are non-renewable, there has been a severe need for recycling and sustainable product use. The amount of cooking oil that is wasted globally has resulted in the need for recycling the product for further use. The rise of the food and beverage industry across the world has led to a massive consumption of the product. Technological advancements have made it possible for recycling of UCO and also allowed applications such as domestic use. The rising awareness regarding the environmental pollution and depletion of non-renewable resources have emerged in favor of growth of the overall market in the coming years.

List of companies profiled in the report:

  • Valley Proteins, Inc. (Virginia, U.S.)
  • Proper Oils Co. Ltd. (London, U.K.)
  • ABP Food Group (County Louth, Ireland)
  • Arrow Oils Ltd. (Manchester, U.K.)
  • Baker Commodities, Inc. (California, U.S.)
  • Grand Natural, Inc. (California, U.S.)
  • Oz Oils Pty. Ltd. (Queensland, Australia)
  • Brocklesby Limited (Brough, U.K.)
  • GreaseCycle (North Carolina, U.S.)
  • MBP Solutions Ltd.(Neuchatel, Switzerland)

Reduced Consumption of Restaurant and Fast Foods during the Covid-19 Pandemic will Restrict Market Growth

The recent coronavirus outbreak has created a sense of panic across the world. With several major countries implementing strict measures to curb the spread of the disease, businesses across all sectors have been affected. With measures such as lockdowns and social distancing practices adopted in almost all countries, SMEs as well as large scale businesses have found it hard to operate seamlessly. The reduced consumption of restaurant foods has been daunting to businesses in the food and beverage sector. Thus, manufacturers in the UCO market have found it difficult of late to find ways of generating revenues or even sustain current challenges.

Global Number for Company Collaborations is Rising; Analysts Attributing the Stat to Rising Demand for Sustainable Energy

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing demand for sustainable product use, there have been several company collaborations in the global used cooking oil market in the past few years. Major businesses are looking to collaborate with tech companies that are loaded with resources that can extract and process UCO for applications in diverse industries. In May 2020, SPAR announced that it has partnered with E&P UCO Recycling. The collaboration is aimed at reducing the impact of disposed cooking oil in sewer and drainage. The efforts taken to minimize the effects of UCO as well as maximize the applications of UCO are consequential to the rising demand for sustainable energy use. Increasing number of such company collaborations will bode well for the growth of the overall market in the coming years.

North America Accounts for Largest Market Share; Increasing Government Initiatives Towards Promoting Use of UCO will Bode well for Market Growth

The report analyses the ongoing market trends across five major regions, including North America, Latin America, North America, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America holds the largest market share. The massive investments in technological intervention by large scale companies towards the integration of UCO refineries will emerge in favor of the growth of the regional market. The presence of several large scale UCO processing refineries will also contribute to market growth. As of 2023, the market in North America was worth USD 2.99 billion and this value is projected to rise at a considerable pace in the coming years.

Industry Developments:

  • June 2023 – ORLEN Unipetrol partnered with Czech Technical University in Prague and the Czech University of Life Sciences to launch a pilot project for cooking oil collection. The initiative aims to examine the recycling options of the product and its effective conversion into biofuel and petrochemicals.

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