Market Overview:
Global
Used Cooking Oil Market was valued at USD 6.96 Billion in 2021 and is expected
to reach USD 9.65 Billion by the year 2028, at a CAGR of 4.8%.
Used cooking oil (UCO) is the term for fats and oils that come from
commercial or industrial food processing operations, including restaurants, and
have been used for frying or cooking. UCO contains no extra fats, oils, or
greases that haven't already been used for frying or cooking. Used cooking oil
is often referred to as waste vegetable oil. The widespread use of vegetable
oils for food preparation in both commercial and home settings results in the
production of used cooking oil. Sunflower, palm, rapeseed, soya, and other
types of vegetable oils are used to make cooking oil, which is typically a
combination of these oils.
The
Report Will Contains A Crucial Chapter
·
Regulatory Framework
·
Technology Roadmap
·
BCG Matrix
·
Heat Map Analysis
·
Price Trend Analysis
·
Investment Analysis
·
Company Profiling and
Competitive Positioning
·
Industry Value Chain
Analysis
·
Market Dynamics and
Factors
·
Porter’s Five Forces
Analysis
·
Pestle Analysis
·
SWOT Analysis
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Market Dynamics and Factors:
In order to reduce greenhouse gas emissions, next-generation
fuels like hydrogen and biofuels are currently being produced in more
environmentally friendly ways. The idea of waste-to-energy is gaining
popularity as a result of the increasing depletion of fossil fuels.
Agricultural waste or other types of used oils, such as WCO (waste lubricating
oil), used transformer oil, and used engine or gear oil, are frequently utilized
as source materials for alternative fuels, which are essentially based on the
waste-to-energy concept. Due to the production of biodiesel, bioethanol,
hydrogen gas, H2/CO, and low molecular weight hydrocarbons like methane, UCO is
a potential raw material for energy production. These objects can also be used
to produce electricity, power machinery or vehicles, or both.
In the biofuel industry, used cooking oil offers a
sustainable alternative and may also be used as animal feed, offering
manufacturers new ways to market used cooking oil and take advantage of the
market's potential growth. Additionally, supplying used cooking oil to
developing nations can contribute to a rise in used cooking oil demand
worldwide. The market for used cooking oil as well as the expansion of used
cooking oil manufacturers may both benefit from raising awareness of the
potential solutions for used cooking oil.
Top
Key Players Covered In The Used Cooking Oil Market:
·
Waste Oil Recyclers Inc.
(US)
·
Brocklesby Limited (UK)
·
Greasecycle (US)
·
Baker Commodities Inc.
(US)
·
Veolia Environnment S.A.
(France)
·
Darling Ingredients Inc.
(US)
·
Arrows Oils Ltd (UK)
·
Olleco Ltd. (UK)
·
Argent Energy (UK)
·
Grand Natural Inc. (US),
and Other Major Players.
Used Cooking Oil Market Report Highlight:
·
By Source, the food
manufacture segment is anticipated to lead the growth of the Used Cooking Oil
market in the forecasted timeframe. To make many of our favorite snacks, deep
fryers require vast vats of oil. To maintain food sanitary and fresh-tasting,
this oil must be replenished regularly. Businesses are left with enormous
amounts of waste oil due to continual refilling. Restaurants, diners, and fast
food joints are the most common producers of business grease waste, according
to most people.
·
By
Application, the biodiesel segment is expected to
have the highest share of the Used Cooking Oil market over the projected
period. This is owing to the low cost of spent cooking oil compared to
vegetable oil, which encourages biodiesel producers to utilize it as a primary
feedstock in biodiesel manufacturing. As a result, the market for leftover
cooking oil is growing.
· The Europe region is expected to have the highest share of the Used Cooking Oil market over the projected period. According to the European Commission, biodiesel will replace a significant portion of diesel usage in the EU27 by 2025. Governments in this region are developing legislation to encourage the collection and processing of waste cooking oils from cafés, restaurants, hotels, catering companies, and hotels.
Key Industry Development:
In
March 2022, Averda, a
prominent waste management and recycling firm located in Dubai is launching new
used cooking oil (UCO) service in the UAE to help improve trash management and
reduce carbon emissions from road transportation. This UCO service is one of
Averda's various new sustainable waste services, all of which are part of the
business's recent three-year corporate strategy "Renew," which
focuses the company on addressing the critical challenge of our climate
catastrophe while unlocking value from the trash.
In
October 2021, Neste and
Hesburger, a Finnish restaurant business, will collaborate heavily in the
circular economy. More than 300 Hesburger restaurants in Finland and the
Baltics will recycle used cooking oil to create sustainable diesel. Hesburger
will begin using Neste MY Renewable DieselTM in the majority of its transport
vehicles in Finland as a result of the agreement, decreasing greenhouse gas
emissions in these vehicles by up to 90% when compared to fossil diesel use.
Used Cooking Oil Market Segmentation:
By
Source
·
Food
Manufacturers
·
Household
By
Application
·
Biodiesel
·
Oleochemical
Products
·
Animal
Feed
For
this report, Introspective Market Research has segmented the Used Cooking Oil
Market based on region:
Regional
Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
·
North America
o US
o Canada
o Mexico
·
Eastern Europe
o Bulgaria
o The
Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe
·
Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe
·
Asia Pacific
o China
o India
o Japan
o South
Korea
o Malaysia
o Thailand
o Vietnam
o The
Philippines
o Australia
o New
Zealand
o Rest of APAC
·
Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi
Arabia
o Qatar
o UAE
o Israel
o South Africa
·
South America
o Brazil
o Argentina
o Rest of SA
Scope of the Report:
The latest research on the Used Cooking Oil market
provides a comprehensive overview of the market for the years 2022 to 2028. It
gives a comprehensive picture of the global Used Cooking Oil industry,
considering all significant industry trends, market dynamics, competitive
landscape, and market analysis tools such as Porter's five forces analysis,
Industry Value chain analysis, and PESTEL analysis of the Used Cooking Oil
market. Moreover, the report includes significant chapters such as Patent
Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map
Analysis, Price Trend Analysis, and Investment Analysis which help to
understand the market direction and movement in the current and upcoming years.
The report is designed to help readers find information and make decisions that
will help them grow their businesses. The study is written with a specific goal
in mind to give business insights and consultancy to help customers make smart
business decisions and achieve long-term success in their particular market
areas.
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