iCrowdNewswire Jan 13, 2021 6:29 AM ET
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.
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The major players in the used cooking oil
- 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.)
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 2017-2025. Increasing number of restaurants is encouraging biofuel producers towards restaurants as a major source of used cooking oil.
Global Used Cooking Oil (UCO) Market 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.
The global used cooking oil market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Among all, Europe is projected to dominate the market followed by South America. Regulations supporting clean energy application have encouraged biodiesel production growth, which, in turn, have boosted the used cooking oil market in these regions. Moreover, high inclination of consumers towards meat consumption and awareness towards quality of products sourced from livestock have supplemented the growth of used cooking oil in European market.
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