Used Cooking Oil (UCO) Market - Market Size & Forecasting (2017-2028)

The used cooking oil (UCO) market was estimated to be USD 12,271.17 million in 2020 and is projected to reach USD 17,310.94 million by 2028, at a CAGR of 4.4% during the forecast period in the COVID-19 period. However, without the COVID-19 impact, the used cooking oil (UCO) market has been expected to be at USD 12,380.92 million in 2020 and USD 18,639.73 million in 2028, at a CAGR of 5.2%



Used cooking oils (UCOs) are oils and fats that have been used for cooking or frying in the food processing industry, in Horeca (hotel, restaurant and café) and in households sectors. UCO is recycled and used in various industries for the production of biodiesel, soaps, and oleochemicals, among others. The global used cooking oil (UCO) market is anticipated to expand at a significant growth rate during the forecast period.

The expansion of the global market can be attributed to the increasing demand for biofuels in developing and developed economies. Increasing urbanization and industrialization, coupled with the growing demand for biofuels, are driving the UCO market growth. Increasing population and rising awareness regarding the use of renewable resources are further supporting the growth of this market. Apart from these, rising demand for sustainable energy solutions and environmental awareness are boosting the growth of the market for used cooking oils.

This research report categorizes the market for used cooking oil (UCO) based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the used cooking oil (UCO) market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the used cooking oil (UCO) market. The report strategically identifies and profiles the key market players and analyses their core competencies in each segment such as source and application of the used cooking oil (UCO) market.

Based on the source, the market is segmented into household sector and commercial sector. The commercial sector is further segmented into food manufacturing, Horeca, and others. Among these, the commercial sector segment is dominating the global used cooking oil (UCO) market. An increase in the number of food service industries and hotels has resulted in the huge production of used cooking oil across the world, which is collected in bulk by the suppliers. This factor has played a significant role in driving this segment’s growth.

Based on application, the market is segmented into biodiesel, oleo chemical products, animal feed, and others. The biodiesel segment that is dominating the global market is projected to expand at a faster rate due to the low cost of used cooking oil compared to vegetable oil, which encourages biodiesel manufacturers to use used cooking oil as a major feedstock in biodiesel production. On the other hand, the oleochemical segment is the fasting growing segment based on application. Rising environmental concerns and increasing focus on the use of sustainable and renewable raw materials in the chemical industry have encouraged the oleochemical industry to use used cooking oil in the production of a number of products, such as soaps, candles, plastics, and others. This has boosted the growth of the segment.

By region, this market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among these regions, the Europe region is expected to hold the largest share of the global used cooking oil (UCO) market in the forecast period. Rising energy consumption in the Asia Pacific region has triggered the focus of governments on the production of renewable energy including biodiesel. This is going to drive the growth of the Asia Pacific market in the coming years. On the other hand, the Asia Pacific region has been estimated to be the fastest growing market in the global used cooking oil industry. Growing population, urbanization, and industrialization are increasing the demand for used cooking oil in the region. Increasing environmental concerns and favorable government regulations are creating a number of opportunities for the used cooking oil industry in the region. Increased demand for biodiesel is also boosting market growth in South America.

The competitive scenario highlights the performance of major companies operating in this market. This includes detailed profiling of major companies and their competitive benchmarking. Product profiling provides key information including products/solutions offered, key developments, company performances, and strategies adopted in recent years.

The major companies profiled include Baker Commodities Inc., Veolia Environment S.A., Arrow Edible Oil Management Ltd, Argent Energy, Olleco Ltd., Waste Oil Recyclers Inc., Grand Natural Inc., Greasecycle, Brocklesby Limited, Vegetable Oil Management Ltd, Valley Proteins Inc., and others. These companies have adopted product development, expansion, and merger strategies to consolidate their market position amid intense competition.

WHAT THIS STUDY PROVIDES

• Global market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
• Used cooking oil (UCO) market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
• Extensive details and analysis of contracts, projects, and programs
• Analysis of game-changing technological trends and how these will shape the industry
• Explanation or political, regulatory and technical factors to consider
• Barriers to entry analysis for markets around the world
• Profiles of leading companies operating within the sector with market share analysis
• SWOT analysis of the major strengths and weaknesses of the market, together with the opportunities available and the key threats faced
• Market conclusions & recommendations

KEY QUESTIONS ANSWERED BY THIS REPORT

• How the used cooking oil (UCO) market is evolving?
• What is driving and restraining factors for global Used Cooking Oil (UCO) market?
• How will each used cooking oil (UCO) submarket segment grow over the forecast period and how much sales will these submarkets account for in 2028?
• How will market shares of each used cooking oil (UCO) submarket develop from 2020-2028?
• Which used cooking oil (UCO) submarket will be the main driver of the overall market from 2020-2028?
• How will political and regulatory factors influence regional used cooking oil (UCO) markets and submarkets?
• Will leading national used cooking oil (UCO) broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
• How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
• Who are the leading players and what are their prospects over the forecast period?
• How will the sector evolve as alliances form during the period between 2017 and 2028?