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Used Cooking Oil Market Size
The global used cooking oil market size was valued at USD 6.6 billion in 2023 and is estimated to grow at a CAGR of over 5.7% from 2024 to 2032, driven by its increasing applications in biodiesel production, animal feed, cosmetics, and industrial uses. As the demand for sustainable and eco-friendly energy sources rises, biodiesel production from used cooking oil has emerged as a major application, promoting recycling and reducing waste.
Additionally, the food industry utilizes used cooking oil in animal feed, contributing to the circular economy. The cosmetics and personal care sectors also increasingly incorporate used cooking oil for its beneficial properties. Moreover, growing awareness of environmental sustainability and government regulations encouraging waste oil recycling further propels market growth.
For instance, used cooking oil serves as a cost-effective alternative to fresh vegetable oil, being 2 to 3 times cheaper. This significant price advantage not only lowers overall processing costs but also enhances the economic viability of biodiesel production. By utilizing it, biodiesel manufacturers can reduce feedstock expenses, making it an attractive option for sustainable fuel production. As a result, the growing trend towards renewable energy sources further boosts the demand for used cooking oil in the biodiesel market, supporting both environmental sustainability and cost efficiency.
How big is the global used cooking oil market?
The market size of used cooking oil reached USD 6.6 billion in 2023 and is set to grow at a 5.7% CAGR from 2024 to 2032, driven by its increasing applications in biodiesel production, animal feed, cosmetics, and industrial uses.
What was the value of the household cooking oil segment?
The household cooking oil segment was valued at USD 2.7 billion in 2023 and is anticipated to expand at a 5.9% CAGR during 2024-2032, led by extensive consumption in residential kitchens.
What is the projected growth of the unrefined used cooking oil industry?
The unrefined used cooking oil segment size dominated around USD 3.7 billion in 2023 and is projected to witness 5.9% CAGR through 2032, due to its cost-effectiveness and versatile applications.
How much is the China used cooking oil market worth?
The China market accounted for USD 2.2 billion in 2023 and is poised to expand at a 5.7% CAGR till 2032, propelled by its vast population, large-scale foodservice industry, and growing environmental awareness.
Who are the major players in the used cooking oil industry?
Major players operating in the industry include ABP Food Group, Arrow Oils, Baker Commodities, Brocklesby, Darling Ingredients, Grand Natural, Greasecycle, MBP Solutions, Muenzer, Oz Oils Pty, and Uranus Oil.