Dublin, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The "Used Cooking Oil - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Used Cooking Oil was estimated at US$6.9 Billion in 2023 and is projected to reach US$10.0 Billion by 2030, growing at a CAGR of 5.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
Used cooking oil (UCO) has emerged as a valuable resource in the renewable energy sector, particularly in the production of biodiesel. Once considered waste, used cooking oil is now recognized for its potential to be repurposed into an eco-friendly fuel source, reducing the reliance on fossil fuels. Biodiesel produced from UCO is a cleaner alternative to traditional diesel, as it emits lower levels of greenhouse gases and particulate matter.
What Factors Are Driving the Growth in the Used Cooking Oil Market?
The growth in the used cooking oil market is driven by several factors, including the increasing demand for biodiesel as a renewable energy source and the rising emphasis on circular economy practices. Regulatory mandates in regions such as Europe and North America are encouraging the collection and repurposing of UCO for biofuel production, reducing waste and promoting sustainable energy. The cost-effectiveness of UCO compared to virgin oils is also a key driver, as biodiesel producers seek affordable feedstock options.
Additionally, the expansion of non-fuel applications, such as the use of UCO in the production of oleochemicals and animal feed, is further fueling market growth. The growing awareness of environmental sustainability and the push toward reducing carbon emissions are also playing a pivotal role in the market's expansion.
What Are the Key Segments and Applications of Used Cooking Oil?
The used cooking oil market is segmented by application, with biodiesel production being the largest segment, followed by non-fuel applications such as the production of oleochemicals and animal feed. In terms of collection channels, UCO is primarily sourced from restaurants, fast-food chains, and food processing plants, which generate large volumes of waste oil.
Households also contribute to UCO collection, although on a smaller scale. Geographically, Europe leads the UCO market, driven by stringent regulations on renewable energy and biodiesel production. North America and Asia-Pacific are also significant markets, with the latter experiencing rapid growth due to the expansion of biodiesel industries in countries like China and India.
How Are Regulatory and Sustainability Trends Impacting the UCO Market?
Regulatory mandates and sustainability initiatives are key drivers of growth in the used cooking oil market. Governments in Europe and North America have implemented policies that promote the use of biodiesel as part of their broader efforts to reduce carbon emissions and meet renewable energy targets.
For example, the European Union's Renewable Energy Directive (RED II) encourages the use of UCO in biofuel production to reduce dependence on virgin oils and promote waste-to-energy conversion. Moreover, the circular economy trend is gaining traction, with more companies adopting sustainable practices by recycling waste oil into valuable products. The environmental benefits of using UCO as a feedstock for biodiesel, coupled with its cost-effectiveness compared to virgin oils, make it an increasingly attractive option for both producers and consumers.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Biodiesel Application segment, which is expected to reach US$4.4 Billion by 2030 with a CAGR of a 5.9%. The Oleo Chemicals Application segment is also set to grow at 5.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $1.8 Billion in 2023, and China, forecasted to grow at an impressive 5.1% CAGR to reach $1.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Used Cooking Oil Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Used Cooking Oil Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Used Cooking Oil Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Used Cooking Oil market such as ABP Food Group, Argent Energy UK Ltd., Arrow Oils Ltd., Baker Commodities, Inc., Darling Ingredients, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $6.9 Billion |
| Forecasted Market Value (USD) by 2030 | $10 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Used Cooking Oil - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Biofuels and Renewable Energy Drives Growth in Used Cooking Oil Recycling
- Expansion of Circular Economy Practices Strengthens Business Case for Used Cooking Oil Collection and Reuse
- Increased Focus on Sustainability and Waste Reduction Propels Adoption of Used Cooking Oil in Biodiesel Production
- Technological Advancements in Oil Collection and Filtration Generate Opportunities for Efficient Used Cooking Oil Processing
- Growing Demand for Low-Carbon Energy Sources Expands Addressable Market for Used Cooking Oil as a Feedstock
- Rising Adoption of Waste-to-Energy Practices Sustains Demand for Recycled Cooking Oil in Industrial Applications
- Increased Focus on Sustainable Aviation Fuels Generates Opportunities for Used Cooking Oil-Based Jet Fuel
- Expansion of Foodservice Industry Drives Collection of Used Cooking Oil for Recycling and Repurposing
- Growing Awareness of Environmental Impacts of Oil Disposal Spurs Demand for Proper Used Cooking Oil Management
- Rising Demand for Eco-Friendly Personal Care and Cosmetic Products Fuels Use of Recycled Cooking Oil as an Ingredient
- Technological Innovations in Biodiesel Refining Strengthen Demand for High-Quality Used Cooking Oil
- Increased Focus on Waste Valorization Drives Circular Economy Opportunities in Used Cooking Oil Sector
- Growth of Bio-Based Chemicals Industry Propels Adoption of Used Cooking Oil as a Renewable Feedstock
FOCUS ON SELECT PLAYERS:Some of the 25 leading companies in the Used Cooking Oil market include
- ABP Food Group
- Argent Energy UK Ltd.
- Arrow Oils Ltd.
- Baker Commodities, Inc.
- Darling Ingredients, Inc.
- Farmet AS
- Grand Natural Inc
- GreaseCycle
- MBP Solutions Ltd.
- Monopoly Innovations Private Limited.
For more information about this report visit https://www.researchandmarkets.com/r/d6a3cv
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