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Used Cooking Oil Market 2023: Predicted to Achieve $ 8.9 Billion Revenue by 2028

08-25-2023 07:19 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Used Cooking Oil Market 2023: Predicted to Achieve $ 8.9 Billion

How Big is The Used Cooking Oil Market?

The global used cooking oil market size reached US$ 6.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.

What is Used cooking oil?

Used cooking oil (UCO), also known as waste cooking oil or recycled cooking oil, refers to cooking oils and fats that have been previously used in food preparation and have undergone thermal and chemical changes during cooking. It is the byproduct of various cooking processes, such as deep frying, pan frying, and food processing. It is obtained from restaurants, fast-food chains, households, and other food establishments. It can be derived from vegetable oils, such as soybean oil, canola oil, sunflower oil, or animal fats like lard or tallow.

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What are the growth prospects and trends in the used cooking oil industry?

The increasing emphasis on reducing dependence on fossil fuels and promoting renewable energy sources represents one of the primary factors driving the demand for UCO around the world. Moreover, the implementation of stringent environmental regulations by governing and regulatory bodies to reduce carbon emissions and promote sustainable practices is favoring the growth of the market. In addition, there is an increase in the awareness about the negative environmental impact of improper disposal of UCO. Along with this, the growing adoption of UCO by various companies and organizations that specialize in collecting, processing, and recycling UCO into valuable products such as biodiesel and animal feed is creating a positive outlook for the market.

Who are the key players operating in the industry?

• ABP Food Group
• Arrow Oils Ltd
• MBP Solutions Ltd.
• OZ OILS Pty. Ltd.
• Baker Commodities Inc.
• Brocklesby Ltd
• Grand Natural Inc.
• Greasecycle, LLC
• Valley Proteins, Inc.
• Veolia Environment S.A.

The report has segmented the market on the basis of source, application and region.

Breakup by Source:

• Household Sector
• Commercial Sector

Breakup by Application:

• Biodiesel
• Oleo Chemicals
• Animal feed
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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Contact US

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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