Used Cooking Oil Industry was valued at USD 7.50 Bn in 2023 and is expected to reach USD 11.35 Bn by 2030, at a CAGR of 6.1 % during the forecast period.

Market Overview

The market for used cooking oil is driven by its application in biodiesel generation. An environmentally friendly substitute for conventional fossil fuels is biodiesel made from used cooking oil. The market for biodiesel, especially that made from used cooking oil, has been increasing as a result of global governments enacting laws to lower greenhouse gas emissions and support renewable energy sources. To promote the appropriate disposal and recycling of spent cooking oil, numerous nations have put laws and policies into place. When used cooking oil is disposed of improperly, it can pollute the environment and pose health risks. Governments are therefore rewarding recycling initiatives and penalizing inappropriate disposal. As a result, more wasted cooking oil is being collected and recycled.

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Opportunities For Near Future

Recycling UCO into biodiesel offers a genuinely sustainable alternative for a problematic waste product, creating a significant income source and simultaneously reducing environmental pollution and fossil fuel dependency. These benefits shall be understood and considered by the policy makers encourage and facilitate the implementation of the UCO to biodiesel chain. Consumption is stimulated by higher mandatory biofuels blending targets, in particular for heavy transports which do not have any other feasible alternative to fossil fuels but biofuels and are already technically able to use them.

Market Segment Analysis

Based on Application, the market is segmented into Biodiesel, Oleo Chemicals, Animal feed, Cosmetics, and Others. Biodiesel segment dominated the market in 2023 and is expected to hold the largest Used Cooking Oil Market share over the forecast period. Used cooking oil is the main ingredient in making of biofuel, mainly biodiesel. Because of the expanded U.S. Renewable Fuel Standard, biofuels are in high demand. This standard is a federal law that mandates suppliers of transport fuels (diesel and gasoline) to inject a small percentage of biofuels into their products. It aims to reduce greenhouse gas emissions and the United States’ dependence on non-renewable petroleum. It ensures that you don’t fill your tank with pure diesel fuel but with a 2%, 5%, or 20% biodiesel blend.

Biodiesel is a fuel that is made from pure or waste vegetable oils such as soybean oil, rapeseed oil used cooking oil, and others. The production of Biodiesel from used cooking oil is economical as compared to vegetable oil. This is due to the easy availability and low cost of used cooking oil over vegetable oil, which encourages biodiesel manufacturers to use used cooking oil as a major feedstock in Biodiesel production, which significantly boosts the Used Cooking Oil Market growth.

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Regional Insight

North America dominated the market in 2023 and is expected to hold the largest Used Cooking Oil Market share over the forecast period. Due to the current legislative developments that promote the utilization of waste cooking oil for sustainable fuel generation. In Europe, the EU is also making major efforts to increase biodiesel production. According to the European Commission, a major percentage of diesel consumption replace biodiesel by EU27. Governments of the various countries in this region are laying out policies that promote the collection and processing of waste cooking oils from cafes, restaurants, hotels, catering businesses, and hotels.

Companies operating in North America and Europe invest in Used Cooking Oil procurement from Asian countries to fulfill their raw material demand for biodiesel production. The evolution of the food and food service industry across the region also supports Used Cooking Oil market growth. Brazil is one of the largest producers of biodiesel, and hence, the demand for using alternative sources as feedstock is also increasing. As more countries are using waste cooking oil to produce biodiesel, Brazil is also promoting its use in biodiesel production.

Key players include:

1. Darling Ingredients Inc. - Irving, Texas, USA
2. Valley Proteins Inc. - Winchester, Virginia, USA
3. Baker Commodities Inc. - Vernon, California, USA
4. Griffin Industries - Cold Spring, Kentucky, USA
5. Biomatrix Water - Victoria, British Columbia, Canada
6. Olleco - West Sussex, England, UK
7. Greenergy International Ltd. - London, England, UK
8. Argent Energy - Motherwell, Scotland, UK
9. UCO Corporation - Yokohama, Japan
10. Mahoney Environmental - Joliet, Illinois, USA

Frequently Asked Questions:

1] What segments are covered in the Global Used Cooking Oil Market report?

2] Which region is expected to hold the highest share of the Global Used Cooking Oil Market?

3] What is the market size of the Global Used Cooking Oil Market by 2030?

4] What was the market size of the Global Used Cooking Oil Market in 2023?

5] Key players in the Used Cooking Oil Market.

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