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The used cooking oil (UCO) industry is experiencing significant growth driven by the increasing demand for sustainable biodiesel production, which utilizes UCO as a cost-effective feedstock. As the global focus on renewable energy intensifies, UCO is being recognized for its potential to reduce greenhouse gas emissions compared to traditional fossil fuels. Additionally, industries such as animal feed and cosmetics are expanding their use of UCO, further propelling market growth. However, challenges like quality variability and regulatory hurdles need to be addressed to optimize UCO utilization and enhance market stability in the coming years.
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.
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.
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.
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.
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.