What is the global market size of Used Cooking Oil (UCO) Market?

Used Cooking Oil (UCO) Market size was valued at USD 1.09 billion in 2021 and is poised to grow from USD 1.14 billion in 2022 to USD 1.6 billion by 2030, growing at a CAGR of 4.45% in the forecast period (2023-2030).

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 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 Report Snapshots

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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).

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. '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'

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.

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.

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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

Global Used Cooking Oil (UCO) Market Regional Insights

Global Used Cooking Oil (UCO) Market Report Snapshots

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