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Market Overview:Used cooking oil is an oil which have been used for cooking or frying in the food processing industry, hotels, restaurants, catering, and at a consumer level in households. This used cooking oil is collected, refined, and brought into various use, which is the best example of waste management. They can be refined into different types of biofuels, which are further used for power generation and heating. Moreover, it is utilized as a high energy feed additive in various livestock feeding products. These benefits have opened the doors for used cooking oil in the market. Furthermore, increasing number of restaurants and hotels are driving the used cooking oil market.
Cooking oil is an essential item in all kitchens, which play an important role in preparation of a healthy human diet. These cooking oil once used are collected for recycling and further used in biofuel production, animal feeding, and other. Recycled cooking oil helps to reduce the clog sewage line caused due to build up fats from disposed oil. Moreover, used cooking oil is the main source for biofuel production. Rising demand for biofuel consumption is driving the market of used cooking oil. Also, nutritionist believe it to be the high energy food additive in livestock feeding. Additionally increasing awareness for animal protein is adding fuel to the growth of used cooking oil.
Used cooking oil is refined into different types of biofuels, used for power generation and heating. Continuous rise in the biofuel demand will support the growth of cooking oil recycling during the forecast period 2017-2023. Moreover, biodiesel manufacturers are inclining towards restaurants as a source of collecting used cooking oil. This is backed up with surge in the number of restaurants and fast food joints in the market. Additionally, increasing focus on improving animal health among customers is driving the used cooking oil market. Moreover, government regulations supporting clean energy applications will boost the market of used cooking oil.
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Competitive Analysis:
The major players in the Used Cooking Oil Market,
Baker Commodities Inc. (U.S.)
Argent Energy (U.K.)
Darling Ingredients (U.S.)
Greenergy International Ltd (U.K.)
Olleco (U.K.)
Uptown Biodiesel Limited (U.K.) and
Proper Oils (U.K.)
Downstream Analysis:
On the basis of source, used cooking oil is segmented into food manufacturers, restaurants and caterers, household, and others. Among all, food manufacturers are dominating the global market. However, restaurants are projected to grow rapidly over the forecast period 2017-2023. Increasing number of restaurants is encouraging biofuel producers towards restaurants as a major source of used cooking oil.
Based on basis of the application, used cooking oil is segmented into biodiesel, animal feeding, oleo chemicals, and others. The biodiesel is dominating the market among all. Additionally, increased consumption of biofuel supported with the environmental awareness among consumers is driving the growth of the used cooking oil market.
Segments:
Used cooking oil (UCO) is segmented on the basis of sources such as food manufacturers, restaurants, caterers, household, and others. Among all, food manufacturers are dominating the market. However, restaurants are expected to surge the market based on inclination of biofuel manufacturers towards restaurants as a major source of collecting used cooking oil.
Based on the application, the used cooking oil market is segmented into biodiesel, animal feed, oleo chemicals, and others. Biodiesel share the major portion of used cooking oil market.
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Regional Analysis:
The global used cooking oil (UCO) market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Among all, Europe dominates the market of used cooking oil followed by South America. Europe regulations have encouraged strong biodiesel production growth, which has increased the demand for used cooking oil. Moreover, increased awareness among consumers about animal protein have supplemented the growth of used cooking oil in this region.
Furthermore, North America is expected to grow over the forecast period owing to its increasing consumption of used cooking oil in biofuel production. Moreover, Asia Pacific is projecting growth in developing countries like India and China. However, due to lack of awareness, a negligible growth is observed in this region. From rest of the world, UAE is expected to project application of used cooking oil in the production of biodiesel.
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