The used cooking oil market has been witnessing significant growth due to several industry trends and growth drivers. One key factor contributing to this expansion is the increasing awareness of environmental sustainability. With a growing emphasis on reducing carbon footprints, the demand for recycling used cooking oil into biodiesel has surged. This trend aligns with the global commitment to combat climate change and reduce greenhouse gas emissions, driving the growth of the used cooking oil market.
Additionally, government regulations and incentives have played a crucial role in shaping the industry landscape. Many governments have implemented strict regulations regarding the disposal of cooking oil, pushing restaurants and food service establishments to recycle their used oil. Subsidies and tax benefits for biodiesel production from used cooking oil further incentivize businesses to participate in this sustainable practice, fostering market growth.
On the flip side, the industry does face challenges. One of the primary challenges is the collection and logistics associated with used cooking oil. Ensuring a consistent supply of high-quality used oil can be problematic, especially for smaller restaurants and food service providers. Moreover, competition for used cooking oil among various industries, including animal feed and cosmetics, can affect the availability and pricing of this resource.
However, amidst these challenges, numerous business opportunities have emerged. Companies that specialize in used cooking oil collection, processing, and biodiesel production have a significant market to tap into. Moreover, research and development in the field of biodiesel production from used cooking oil continue to create opportunities for innovation and cost-effective solutions.
In conclusion, the used cooking oil market is experiencing robust growth driven by environmental awareness, government support, and sustainability initiatives. While challenges exist, they are accompanied by business prospects for those willing to address collection and supply chain issues and invest in innovative solutions. As the world strives for a more sustainable future, the used cooking oil market is poised to play a pivotal role in reducing waste and carbon emissions.
The global used cooking oil market is segmented on the basis of source, application, and region. By source, it is classified into the household sector and the commercial sector. By application, it is divided into biodiesel, oleo chemicals, animal feed, and others. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, the Netherlands, and the rest of Europe), Asia-Pacific (China, India, Australia, Japan, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have also been focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the used cooking oil market include Valley Proteins, Inc., Quatra, Baker Commodities Inc., Arrow Oils Ltd, Olleco, Waste Oil Recyclers, Grand Natural Inc., GREASECYCLE, Brocklesby Limited, and Oz Oils Pty Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the used cooking oil market analysis from 2022 to 2032 to identify the prevailing used cooking oil market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the used cooking oil market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global used cooking oil market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Industry life cycle assessment, by region
- Senario Analysis & Growth Trend Comparision
- Supply Chain Analysis & Vendor Margins
- Distributor margin Analysis
- Pain Point Analysis
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Average Selling Price Analysis / Price Point Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
Key Market Segments
By Source
- Househel Sector
- Commercial Sector
By Application
- Biodiesel
- Oleo Chemicals
- Animal Feed
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Valley Proteins, Inc.
- Quatra
- Baker Commodities Inc.
- ARROW OILS LTD.
- Olleco Limited
- Waste Oil Recyclers, Inc.
- Grand Natural Inc.
- Greasecycle LLC
- Brocklesby Limited.
- Oz Oils Pty Ltd.
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
Executive Summary
According to the report, the used cooking oil market was valued at $6.4 billion in 2022, and is estimated to reach $10.7 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032.Used cooking oil or waste cooking oil are edible vegetable oils that are produced from the repetitive use of vegetable oil for the purpose of food preparation to a point where it is no longer fit for that purpose. There are two main sources from where used cooking oil can be collected. This includes Commercial sectors such as restaurants, hotels, and caterers (HORECA) and household sectors. The rise in the adoption of low-carbon fuels fosters the demand for used cooking oil as feedstock in markets throughout North America, Europe, Asia-Pacific, and LAMEA.
Key factors driving the growth of the used cooking oil market include Increase in the use of UCO as raw material in Biodiesel, Wide Application of Used Cooking Oil (UCO), and Low cost of production as compared to vegetable oils. The cost of producing biodiesel obtained from vegetable oil such as soybean, rapeseed oil, and others, through the process of transesterification is high than fossil fuel. This is because of the high raw material cost. Used cooking oil which is considered a waste material does not compete with these edible vegetable oils in the market. Thus, used cooking oil is available at a low cost. Moreover, used cooking oil is easy to collect from households, restaurants, hotels, and others and is cheaper to produce in small quantities than refined oil. Hence, presently, Biodiesel manufacturers are increasingly adopting used cooking oil as a feedstock. Thereby, the low-cost advantage and prevention of environmental pollution of used cooking oil are the factors that increase its popularity among the manufacturers of biodiesel along with other manufacturers including oleo chemicals, animal feed, and others. This in turn drives the growth of the used cooking oil market.
The used cooking oil market is undergoing remarkable expansion, driven by several noteworthy industry trends and growth catalysts. Firstly, there is a burgeoning global focus on ecological sustainability, propelling the heightened interest in repurposing used cooking oil for the production of biodiesel. This eco-conscious approach is harmonious with endeavors to slash carbon emissions and counteract climate change, serving as a potent impetus for industry growth. Additionally, governmental regulations and incentives geared towards promoting the recycling of used cooking oil have wielded considerable influence over the market's trajectory. Numerous nations have implemented stringent guidelines pertaining to the disposal of cooking oil, prompting restaurants and foodservice establishments to actively engage in recycling initiatives. Government-backed subsidies and tax incentives further fortify the industry's growth prospects by spurring enterprises to transform used cooking oil into biodiesel.
Nevertheless, the industry grapples with certain impediments. A substantial challenge revolves around the efficient collection and logistics of used cooking oil. Ensuring the dependable procurement of high-quality used oil can pose logistical conundrums, particularly for smaller restaurants and foodservice providers. Furthermore, the competition for used cooking oil across various sectors, including animal feed and cosmetics, exerts an influence on its availability and pricing, introducing intricacies to the market.
The used cooking oil market has secured a major growth in North America for several compelling reasons. Firstly, there is a growing awareness and commitment to environmental sustainability in the region. North American consumers and businesses are increasingly inclined towards eco-friendly practices, which has led to a surge in the demand for recycling used cooking oil. This heightened environmental consciousness aligns with global efforts to reduce carbon emissions and mitigate climate change, making the recycling of cooking oil for biodiesel a preferred choice.
Secondly, government regulations and incentives have played a pivotal role in propelling the market forward. Many North American countries and states have implemented stringent regulations concerning the disposal of cooking oil, urging restaurants and foodservice establishments to participate in recycling programs. Moreover, government subsidies and tax incentives further incentivize businesses to convert used cooking oil into biodiesel, fostering market growth.
Additionally, the North American used cooking oil market benefits from a well-developed infrastructure for collection and processing. This efficient logistical system ensures a steady supply of high-quality used oil, making it more attractive for businesses to participate in recycling initiatives.
However, within this milieu of challenges, a plethora of entrepreneurial opportunities are burgeoning. Companies specializing in the collection, processing, and biodiesel production of used cooking oil find themselves positioned to tap into a lucrative market. Moreover, ongoing research and development initiatives in the realm of biodiesel production from used cooking oil persist in fostering innovative breakthroughs and cost-effective solutions. As the world fervently pursues a more sustainable future, the used cooking oil market stands poised to play a pivotal role in waste reduction, the promotion of eco-friendly practices, and the advancement of environmental preservation objectives.
The global used cooking oil market is segmented on the basis of source, application, and region. By source, it is classified into the household sector and the commercial sector. By application, it is divided into biodiesel, oleo chemicals, animal feed, and others. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, the Netherlands, and the rest of Europe), Asia-Pacific (China, India, Australia, Japan, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have also been focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the used cooking oil market include Valley Proteins, Inc., Quatra, Baker Commodities Inc., Arrow Oils Ltd, Olleco, Waste Oil Recyclers, Grand Natural Inc., GREASECYCLE, Brocklesby Limited, and Oz Oils Pty Ltd.
Key Findings of the Study
By source, the commercial sector segment accounted for the highest used cooking oil market share in 2022, growing at a significant CAGR from 2023 to 2032.By application, the biodiesel segment occupied the maximum share in the used cooking oil market analysis in 2022, growing at a significant CAGR from 2023 to 2032.
By region, Europe accounted for a major share in 2022 of the used cooking oil market and is expected to grow at a significant CAGR from 2023 to 2032.
Companies Mentioned
- Valley Proteins, Inc.
- Quatra
- Baker Commodities Inc.
- ARROW OILS LTD.
- Olleco Limited
- Waste Oil Recyclers, Inc.
- Grand Natural Inc.
- Greasecycle LLC
- Brocklesby Limited.
- Oz Oils Pty Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...