Selbyville, Delaware, Nov. 27, 2024 (GLOBE NEWSWIRE) --
The used cooking oil market valuation is predicted to exceed USD 10.9 billion by 2032, reported in a research analysis by Global Market Insights Inc.
The market is expanding due to the rising demand for sustainable solutions, with biodiesel production being one of the key applications. As an eco-friendly energy source, biodiesel made from used cooking oil market contributes to waste reduction and supports recycling efforts. Beyond biodiesel, used cooking oil is also finding increased use in animal feed, cosmetics, and various industrial applications. The food industry plays a significant role in driving the market, as used cooking oil from food production is repurposed, further contributing to the circular economy.
Additionally, its properties have caught the attention of the cosmetics and personal care sectors. Growing environmental awareness and regulatory measures promoting waste oil recycling are also fueling market growth.
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The household segment dominated the used cooking oil market, valued at USD 2.7 billion in 2023, with an anticipated CAGR of 5.9% through 2032. Extensive cooking oil consumption in residential kitchens contributes significantly to the availability of used oil for recycling. This increase in household-generated used cooking oil is fueling its repurposing into products like biodiesel, animal feed, and industrial goods.
Unrefined used cooking oil held a leading position in the market with a value of USD 3.7 billion in 2023 and is expected to grow at a CAGR of 5.9% from 2024 to 2032. Its cost-effectiveness and high lipid content make it a vital component in biodiesel production, serving as a sustainable alternative to conventional fuels. Unrefined used oil is also utilized in producing animal feed, soaps, and other oleochemicals. Its affordability and lower processing costs compared to refined oils make it an attractive option for industries aiming to adopt greener practices.
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China used cooking oil market was valued at USD 2.2 billion in 2023 and is expected to grow at a 5.7% CAGR through 2032. The country generates vast amounts of used cooking oil due to its large population and food service industry. This surplus is increasingly being repurposed for biofuel production, driven by governmental support for renewable energy initiatives. As China continues to prioritize sustainability and renewable energy, its market for used cooking oil is expected to see steady growth over the coming years.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021-2032
Chapter 3 Used Cooking Oil Market Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing demand for biodiesel production
3.6.1.2 Growing awareness of sustainability and waste reduction
3.6.1.3 Rising prices of fresh vegetable oils
3.6.1.4 Supportive government regulations and incentives for renewable energy
3.6.2 Industry pitfalls & challenges
3.6.2.1 Variability in quality and composition of used cooking oil
3.6.2.2 Regulatory challenges and compliance issues
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
