Used Cooking Oil (UCO) Market Research Report - Forecast till 2030

Used Cooking Oil (UCO) Market Information by Source (Food Manufacturers, HORECA, Household and others), Application (Biodiesel, Oleochemical Products, Animal Feed and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2030

ID: MRFR/F-B & N/3099-CR | February 2021 | Region: Global | 113 Pages         

Used Cooking Oil (UCO) Market

Used Cooking Oil (UCO) Market Size is anticipated to reach USD 1,345.9 Million by 2030, registering a CAGR of 4.45% during 2022-2030.

Segmentation

By Source Food Manufacturers HORECA Household others
By Application Biodiesel Oleochemical Products Animal Feed Others
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • Brocklesby Limited (UK)
  • Greasecycle (US)
  • Baker Commodities Inc. (US)
  • Darling Ingredients Inc. (US)
  • Arrows Oils Ltd (UK)
  • Veolia Environment S.A. (France)
  • Olleco Ltd. (UK)
  • Argent Energy (UK)
  • Grand Natural Inc. (US)
  • Waste Oil Recyclers Inc. (US)

Drivers

  • Improving bioenergy by the governments of developed economies
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Used Cooking Oil (UCO) Market Overview


The used cooking oil market size is projected to be worth USD 1,345.9 Million by 2030, registering a CAGR of 4.45% during the forecast period (2022–2030). The growth rate of Used Cooking Oil (UCO) is expected to grow in the initial years of the forecast period due to heavy usage of the product in all the cooking industries. The Used Cooking Oil product is also used in its recycled forms in the several industries.


The Used Cooking Oil (UCO) market is driven by factors like the increasing need for urbanisation and industrialisation. The increasing global population by the day has led the people to increase their luxuries and their food consumption levels to soar high. The economic level of various countries is majorly increasing due to the growth of Used Cooking Oil (UCO) market. There has also been a prominent growth regarding the sustainable sources of energy, and the awareness of the consumers regarding the same is growing. However, the covid-19 pandemic had a negative impact on the same, considering the drawbacks it had on the market. The supply chains were majorly disrupted, which was a major restraint in the Used Cooking Oil (UCO) market.


COVID-19 Impact Analysis


According to the Used Cooking Oil Market analysis report, the ongoing pandemic has affected many marketing industries. And the Market is one of them that lost its investors due to lack of transportations, workforce, and other facilities. During these two years, the global market has faced disruption in the manufacturing chain and the supply chain. Likely, the price fluctuation has also been witnessed.


However, the market players and manufacturers are implying new tactics by using their promotional ideas and safety measures to enhance the Used Cooking Oil Marketing in the further coming years. 


Market Dynamics 



  • Major Drivers of the Market


The Used Cooking Oil Market size is driving growth in the research period due to the expansion of the foodservice industry across the globe and the higher use of used cooking oils in the production process of biodiesel. The Market is enhancing its market growth due to different market players worldwide who are working on innovations of the product. Moreover, the growing demand for biofuel in the developed and developing economies contributes to the growth of the Market.


As per the Indian Government, nearly 2,700croreliters of cooking oil are being used in India. Out of these, nearly 140 crores used cooking oil can be gathered from huge consumer-like hotels, canteens, and restaurants for conversion. These kinds of initiatives can propel market growth in the upcoming years. 



  • Opportunities of the global market


The growing use of UCO in biodiesel is projected to be a major growth driving factor in the Asia Pacific region, bringing opportunities for the manufacturers and market players of this region. 


Moreover, many governments of different countries are focusing on the safety of cooking oil use, bringing more opportunities for the Used Cooking Oil Market.



  • Market Restraints


The Market analysis highlights that the high price cost can be one of the major restraints for the global market. 


However, the presence of different unorganized market players and local market players might hinder the Used Cooking Oil Market trend. 



  • Market Growth challenges


The Used Cooking Oil Market size might experience challenges due to the unprecedented coronavirus that has disrupted the supply chain. 


Apart from that, the high competition among the market players can bring many challenges for the Market.



  • Cumulative growth Analysis


The Used Cooking Oil Market is registered to record a significant growth rate by creating a higher market share in the review timeframe. 


However, the Market is expanding its business across various parts, such as North America, Asia Pacific, and Europe. For instance, the Asia-Pacific is estimated to grow the highest CAGR of 4.53% in the research period. 


Market Segment Overview



  • By Applications:


The Used Cooking Oil Market has been segmented into Animal Feed, Oleochemical Products, Biodiesel, and others in the application segment. 


In 2018, the biodiesel segment was registered to lead the global market by creating a higher Used Cooking Oil Market share because of the easy availability of the material and the low cost of the segment. Hence, the manufacturers have shown their huge interest in this segment to grow their business on a large scale. This segment is further projected to continue the dominant position in the forecast period. 



  • By Source:


The Market has been categorized into the household, HORECA, food manufacturers, and others based on the source segment.


The HORECA segment is projected to generate the dominant Used Cooking Oil Market share in the forecast period. This segment is estimated to hold the highest CAGR by meeting nearly USD 428.0 Million during the analysis period of 2030. For instance, many government authorities have implemented some regulations where the HORECA cannot reuse oils to prepare food. This has ensured the customers about the safety and hygiene of the food. Hence, this kind of initiative by the government is estimated to thrive the HORECA segment growth in the forecast period. On the other hand, the household segment is estimated to grow at a substantial growth rate of 4.02% in the analysis period of 2022 to 2030.


Regional Analysis


The Used Cooking Oil Market trends are thriving with the collective efforts of the market players of different regions such as North America, Asia Pacific, Europe, and the rest of the world. 


In 2020, the European region was projected to hold nearly 50.17% of the market share. The European region is projected to account for the largest Market share in the review period. In this region, the German country is predicted to pursue the dominant position during the analysis period. The Netherlands Market is projected to witness a 4.15% growth rate during the forecast timeframe of 2022 to 2030. 


Apart from that, the North American region holds the significant Used Cooking Oil Market size during the research period. For instance, this regional market is predicted to show a moderate growth rate during 2022 and 2030. Among all the North American countries, the US is registered to dominant the global market by acquiring a higher market share.


Competitive Landscape Analysis


Many important market leaders present in the Market compete with many market giants to grow their company's presence in the global market. These market leaders are:



  • Brocklesby Limited (UK)

  • Greasecycle (US), 

  • Baker Commodities Inc. (US),

  • Darling Ingredients Inc. (US),

  • Arrows Oils Ltd (UK), 

  • Veolia Environnment S.A. (France),

  • Olleco Ltd. (UK), 

  • Argent Energy (UK),

  • Grand Natural Inc. (US),       

  • Waste Oil Recyclers Inc. (US).


These market players are implying new strategies and tactics to be in the Used Cooking Oil Market trend in the upcoming years. They adopt different promotional or advertising ideas to promote their product, do collaborations, partnerships, and adopt innovations. Overall, these market leaders are focusing on strengthening their worldwide footprints by going through the untapped markets.   


Recent Developments


Some of the major key players in the industry are the Baker Commodities Inc., Arrows Oil, Grand Natural, and Argent Energy. These industries have shown better development as far as the growth of the Used Cooking Oil (UCO) is concerned. The Waste Oil Recyclers Company from the US also had a major hand in the upgradation of the market within the forecast period of the year 2022 to 2030.


Report Overview


As per the Used Cooking Oil Market analysis, this report has covered market dynamics, regional analysis, covid-19 analysis, competitive analysis, and recent developments by measuring the performance of the global market. 


Moreover, the Market trend explains that the current growing market is relying on two segments as application and source. 


Segmental Table: 


By Application



  • Animal Feed

  • Oleochemical Products

  • Biodiesel

  • Others


By Source



  • Household

  • HORECA

  • Food Manufacturers

  • Others



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 1,345.9 Million
  CAGR   4.45% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD million)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Source, Application, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Brocklesby Limited (UK),Greasecycle (US), ,Baker Commodities Inc. (US),,Darling Ingredients Inc. (US),,Arrows Oils Ltd (UK), ,Veolia Environnment S.A. (France),,Olleco Ltd. (UK), ,Argent Energy (UK),,Grand Natural Inc. (US), ,Waste Oil Recyclers Inc. (US).
  Key Market Opportunities   growing use of UCO in biodiesel
  Key Market Drivers   expansion of the foodservice industry


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Frequently Asked Questions (FAQ) :

The used cooking oil market valuation would be USD 1,345.9 Million.

The HORECA segment would lead the used cooking oil market

Used cooking oil market household segment CAGR would be 4.02% during the forecast period.

The APAC region would drive used cooking oil market with maximum revenues.