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2020
Used Cooking Oil Market

Used Cooking Oil Market

by Source (Household Sector and Commercial Sector) and Application (Bio Diesel, Oleo Chemicals, Animal Feed and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand

Report Code: A03161
Pages: 212
Jan 2020 | 30143 Views
Author(s) : Priya , Roshan D
Tables: 105
Charts: 35
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The global used cooking oil market size was valued at $6,041.2 million in 2018, and is projected to reach $8,886.7 million by 2026, registering a CAGR of 5.0% from 2019 to 2026.

Used cooking oil is also known as waste vegetable oil. The used cooking oil is produced as a result of the repeated use of vegetable oils used for cooking food in commercial sectors as well as household sectors. Used cooking oil can be derived from a range of vegetable oils including sunflower, palm, rape, soya, and others and generally comes in mixed composition. 

Increase in the use of used cooking oil as a feedstock for the production of biodiesel drives the growth of the used cooking oil market. Moreover, wide application of used cooking in the production of hydrogen gas, bio lubricants, grease, oleo chemicals, animal feed, and others has also increased the demand for used cooking oil in these industries. This in turn fosters the growth of the market. However, rise in theft of used cooking oil and lack of awareness regarding the use of used cooking oil are the factors anticipated to hamper the growth of the used cooking oil market in the upcoming years. Nevertheless, the initiatives taken by the governments in different countries especially for converting used cooking oil to biodiesel is expected to offer immense opportunity for used cooking oil market growth.

Used Cooking Oil Market

The global used cooking oil market segment is classified on the basis of source, application, and region.  By source, the market is classified into household sector and commercial sector. By application, it is divided into biodiesel, oleo chemicals, animal feed and others. By region, the used cooking oil market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Netherlands, and rest of Europe), Asia-Pacific (China, India, Australia, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

By source, the market is classified into household sector and commercial sector. The commercial sector accounted for the highest used cooking oil market share in 2018. This is attributable to the rise in number of food & service industry and hotels worldwide, which results in huge production of used cooking oil that are the collected in bulk quantity by the suppliers. Moreover, various initiatives taken to collect used cooking oil from various restaurants fuel the growth of the used cooking oil market. For instance, Zomato, which is a restaurant aggregator and provide food delivery service has taken initiatives to collect used cooking oil from various restaurants in India to convert it to biodiesel. This, fosters the growth of the used cooking oil market.

Used Cooking Oil Market
By Source

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Household Sector would exhibit the highest CAGR of 5.40% during 2019-2026.

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By application, the market is categorized into biodiesel, oleo chemicals, animal feed, and others. In 2018, biodiesel was the leading segment in the global used cooking oil market. This is due to 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. This in turn fosters the used cooking oil market demand. Moreover, there is an increase in the production of biodiesel from used cooking oil as it saves 21% of fossil energy as compared to crude oil and also saves 96% of energy as compared to fossil diesel production. This has also made used cooking oil popular among the biodiesel manufacturers, which has increases its use in biodiesel production.

Used Cooking Oil Market
By Application

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Oleo Chemicals segment would exhibit the highest CAGR of 6.20% during 2019-2026.

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By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the highest market share in 2018. This is attributable to the rise in environmental concern and supportive government regulation for the production of second hand generation fuel including biodiesel production from majorly by using used cooking oil. For instance, in the UK 89% of feedstock is used to produce biodiesel for transportation is obtained from used cooking oil (UCO).Thus, this factor contributes toward the growth of market in Europe.

Used Cooking Oil Market
By Region

2026
Europe 
North America
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 5.90% during 2019-2026.

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The key players operating in the global used cooking oil market analysis focus on prominent strategy to overcome competition and to maintain as well as improve their share worldwide. Some of the major players in the global used cooking oil industry analyzed in this report include Valley Proteins, Inc., Proper Oils Company Ltd, 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 current used cooking oil market trend, estimations, and dynamics of the global used cooking oil market size from 2019 to 2026 to identify the prevailing opportunity.
  • The key countries in all the major regions are mapped based on the used cooking oil market share.
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • A comprehensive analysis of factors that drive and restrict the market growth is provided.
  •  In-depth market share analysis of the industry segment and size helps to determine the prevailing market opportunities.
  • Industry player positioning segment facilitates benchmarking and provides a clear understanding of the present position of players along with the used cooking oil market forecast.

Used Cooking Oil Market Report Highlights

Aspects Details
By Source
  • Household Sector
  • Commercial Sector
By Application
  • Biodiesel
  • Oleo Chemicals
  • Animal feed
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Italy, Netherlands, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Valley Proteins, Inc., Arrow Oils Ltd, Brocklesby Limited., GRAND NATURAL INC., Olleco, Oz Oils Pty Ltd, Greasecycle, LLC, Proper Oils Company Ltd., Baker Commodities Inc., Waste Oil Recyclers,
 

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According to the key suppliers of Used cooking oil (UCO), there is rise in the demand for used cooking oil as feedstock worldwide due to the increase in low-carbon fuels globally. Moreover, used cooking oil is a potential raw material for the production of products including oleo chemicals products, animal feed, grease, bio lubricants, and others. Moreover, their continuous effort on making a well-organized collection method for used cooking oil in bulk from the restaurants, hotels, caters and other commercial sectors also fosters the growth of the used cooking oil market.

According to the suppliers of used cooking oil, the rise in environmental concern and the trend of using sustainable, ecofriendly, and renewable resources in the chemical industry are the factors that encourage the adoption of used cooking oil globally. Moreover, the rise in focus on the production of secondhand generation fuel across all countries drives the demand for used cooking oil. Thus, this factor is anticipated to offer lucrative opportunity for the growth of the used cooking oil market.

However, the rise in theft of used cooking oil and the lack of awareness regarding the use of used cooking oil are anticipated to hamper the growth of the used cooking oil market in the upcoming years.

 

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FREQUENTLY ASKED QUESTIONS?

A. The global used cooking oil market will register a CAGR of 5.0% from 2019 to 2026.

A. The global used cooking oil market size is projected to reach $8,886.7 million by 2026.

A. The key suppliers operating in the used cooking oil industry are Valley Proteins Inc., Baker Commodities Inc., Proper Oils Co. Ltd, Arrow Oils Ltd, Olleco, Waste Oil Recyclers, Grand Natural Inc., GREASECYCLE, Brockelsby Limited, and Oz Oils Pty Ltd.

A. The rise in consumption of fuel along with rising environmental concern globally has triggered trend of using eco-friendly, sustainable & renewable resources like used cooking oil in oleo chemicals and others. This trend is likely to fuel the market.

A. Increase in use of used cooking oil (UCO) as raw material in Biodiesel, is driving the market. Moreover, Increasing adoption of UCO in oleo chemical industry is expected to offer an immense opportunities for the market during the forecast period.

A. Increase in theft of Used Cooking Oil and Lack of awareness regarding the use of used cooking oil is restraining the growth of the market.

A. Oleo chemical segment is expected to flourish at the highest growth rate. This is due to the rising use of sustainable & renewable raw materials in oleo chemicals industry to utilize used cooking oil in products such as soap, candles and others.

A. The production of Biodiesel, oleo chemicals and other from used cooking oil is economical as compared to vegetable oil owing to its availability at low cost. This in turn is fueling the growth of the used cooking oil market.

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