USD 6.1 Billion
Global Used Cooking Oil (UCO) Market Size, Share, Growth Analysis, By Source(Household sector, Commercial Sector), By Application(Animal Feed, Biodiesel) - Industry Forecast 2024-2031
Report ID:
SQMIG10C2018 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
63 |
Figures:
75
Global Used Cooking Oil (UCO) Market Insights
Global Used Cooking Oil (UCO) Market size was valued at USD 6.1 Billion in 2019 and is poised to grow from USD 6.45 Billion in 2023 to USD 10.13 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The used cooking oils (UCO) are simple fats and oils that are frequently used for frying in homes, hotels, restaurants, coffee shops, and the food processing industry. Additionally, by following a crucial process, these used cooking oils can be recycled, and they can be widely applied in a variety of industries to create oleochemicals, biodiesel, and soaps.
The expansion of the used cooking oil market is anticipated to be driven by rising government initiatives to encourage UCO use for industrial purposes in the coming years. The increased awareness of renewable energy sources and environmental preservation is projected to cause a significant increase in the global market for used cooking oil (UCO). The continuously changing food and foodservice sector, which uses unique preparations, has had a direct impact on UCO's entire production. Recent developments in the technology that transforms used cooking oil into high-quality refined oil is another factor expected to encourage the expansion of the market as a whole.
US Used Cooking Oil Market is poised to grow at a sustainable CAGR for the next forcast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Biodiesel
Fastest Growth
Biodiesel
Growth Rate
5.8% CAGR
Global Used Cooking Oil (UCO) Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Used Cooking Oil (UCO) Market Size By Application 2022-2028 ($ Bn)
Global Used Cooking Oil (UCO) Market Size By Application 2022-2028 (%)
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Global Used Cooking Oil (UCO) Market Segmental Analysis
The Global Used Cooking Oil (UCO) Market is segmented based on source, application, and region. Based on the source, Used Cooking Oil Market is categorized into Household Sector and Commercial Sector. Based on the application, Used Cooking Oil Market is categorized into Biodiesel, Oleochemical Products, and Animal Feed. Based on region, Used Cooking Oil Market is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Used Cooking Oil Market Analysis by Source
On the basis of source, the commercial segment currently dominates the global used cooking oil (UCO) market. The growing popularity of eating out has a positive impact on the commercial sector. This is due to an increase in the number of restaurants, hotels, and other food service businesses around the world, which causes a significant production of spent cooking oil that suppliers gather in large quantities. Moreover, different activities launched to collect spent cooking oil from various restaurants boost the growth of the used cooking oil market. For instance, the restaurant aggregator Zomato, which also offers food delivery, has taken steps to collect leftover cooking oil from different eateries in India in order to turn it into biodiesel. This encourages the growth of the used cooking oil market.
Used Cooking Oil Market Analysis by Application
On the basis of application, the biodiesel segment currently dominates the global used cooking oil (UCO) market. This is because spent cooking oil is more readily available and less expensive than vegetable oil, which encourages producers of biodiesel to use it as a main feedstock. This in turn increases demand for used cooking oil. Additionally, there is an increase in the manufacture of biodiesel from spent cooking oil because it uses 96 percent less energy than fossil diesel production while saving 21 percent of fossil energy compared to crude oil. This has increased the usage of leftover cooking oil in the manufacturing of biodiesel and made it popular among producers of that fuel.
Global Used Cooking Oil (UCO) Market By Application, 2021 (%), 2023 (%)
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Global Used Cooking Oil (UCO) Market Regional Insights
Based on the region, the North American region currently dominates the global used cooking oil (UCO) market with respect to market share, due to recent legal reforms that support the use of used cooking oil for sustainable fuel generation.
Followed by North America, Europe is projected to lead the global used cooking oil market over the forecast period, due to its widespread use of waste-to-energy goods. The EU is making significant efforts to expand biodiesel production throughout Europe. According to the European Commission, biodiesel will replace a large portion of diesel usage by EU27. Governments in this region are developing regulations to encourage the collection and processing of used cooking oil from cafés, restaurants, lodging facilities, catering companies, and hotels. The regional market is expanding as a result of advertising activities that raise knowledge about the recycling of used cooking oil.
Apart from this, a large CAGR is anticipated in the Asia Pacific market due to the region's growing attention to environmental protection and renewable energy sources. Growth will be aided by the rising number of businesses engaged in the region's waste cooking oil collecting, processing, and refinement. To meet their demand for raw materials for the manufacturing of biodiesel, businesses with operations in North America and Europe invest in UCO purchases from Asian nations. The development of the regional food and foodservice industries also aids the growth of the used cooking oil market.
Global Used Cooking Oil (UCO) Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Used Cooking Oil (UCO) Market Dynamics
Used Cooking Oil Market Drivers
- Growing utilization of used cooking oil (UCO) in the biodiesel sector: The market is expanding primarily due to the rising demand for recycled UCO for the manufacturing of biodiesel. By-products from the recycling process are beneficial in the production of glycerin and soap, increasing the demand for these items. Recent improvements in garbage recycling technology have inspired people to recycle waste materials and turn them into environmentally friendly products. The used cooking oil has a huge potential for being processed into different biofuels to provide electricity. Utilizing used cooking oil to make biodiesel results in cleaner burning fuel with a smaller carbon footprint. Compared to petroleum diesel, they also generate less carbon monoxide and are more affordable.
Used Cooking Oil Market Restraints
- Obstacles in the processing of used cooking oil (UCO): The difficulties encountered in the processing and refining of UCO limit the market expansion. High levels of undesired free fatty acids and water are regarded as contaminants that must be eliminated before transesterification, the most crucial step in the refining process. A low-quality yield of biodiesel is produced as a result of the large concentration of free fatty acids reacting with alkaline catalysts, which stifle the reaction. Due to safety concerns, the high impurity level also restricts their use in animal feed. The biodiesel produced utilizing UCO might have less engine power and less combustion, which would lower its demand globally.
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Global Used Cooking Oil (UCO) Market Competitive Landscape
Several significant market leaders, currently active in the market, are competing with each other to increase their company's footprint in the international market. These market participants are implying new techniques and tactics, In order to lead the Used Cooking Oil Market trend in the upcoming years. They are also collaborating with other businesses to form partnerships and take on innovations to advertise their products. Overall, these industry leaders are concentrating on expanding their global reach by entering untapped markets.
Used Cooking Oil Market Top Players Company Profiles
- Brocklesby Limited
- Greasecycle
- Baker Commodities Inc.
- Proper Oils Company Ltd.
- Darling Ingredients Inc.
- Mahoney Environmental
- Nidera
- Olleco
- Uptown Biodiesel
- Harvest Energy
- Auscol
- Devon Biofuels Ltd.
- Andgar Corporation
- Biomotive Fuel
- FUMPA Biofuels
- Recyfuel
- Bio-Source Fuels LLC
- Universal Bioenergy Inc.
- Renewable Energy Group Inc.
- Daka Denmark A/S
Used Cooking Oil Market Recent Developments
Global Used Cooking Oil (UCO) Key Market Trends
- Use of Green and Sustainable Energy to address Environmental Issues: Numerous problems relating to climate change, greenhouse gas emissions, and other environmental difficulties have been brought about by the rising global population, fast urbanization, and rising pollution. Governments in numerous nations, together with a few major energy and fuel firms, are enacting legislation to assist the green economy. The production of biodiesel from recycled cooking oil is a growing industry in the green energy sector. Due to its benefits to the environment, biodiesel has recently become more popular among consumers instead of petroleum-based fuel. Additionally, the rising availability of used edible oil for fuel production is influenced by consumer awareness of food waste and strict safety standards related to the used cooking oil.
Global Used Cooking Oil (UCO) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global used cooking oil (UCO) market is currently led by countries in the North American region, due to the recent legal reforms that support the use of used cooking oil for sustainable fuel generation. Along with this,the commercial segment dominates the global used cooking oil (UCO) market, due to an increase in the number of food service businesses around the world.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6.1 Billion |
| Market size value in 2031 | USD 10.13 Billion |
| Growth Rate | 5.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Used Cooking Oil (UCO) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Used Cooking Oil (UCO) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Used Cooking Oil (UCO) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Used Cooking Oil (UCO) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Used Cooking Oil (UCO) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Used Cooking Oil (UCO) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Used Cooking Oil (UCO) Market Report Snapshots
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