Global Used Cooking Oil (UCO) Market Trending in 2021
New York, NY 04 Oct 2021: The global used cooking oil market size is expected to reach USD 9.55 billion by 2028 according to a new study by Polaris Market Research. The report “Used Cooking Oil Market Share, Size, Trends, & Industry Analysis Report By Application (Biodiesel, Oleo Chemicals, Animal Feed, Others); By Source; By Region; Segment & Forecast, 2021 – 2028” provides a thorough and detailed analysis with an overview of present trends and future insights.
Increasing urbanization and industrialization coupled with growing demand for biofuels majorly drives the UCO industry growth. The increasing population, and rising awareness regarding use of renewable resources further support the growth of this market. Increasing demand for sustainable energy solutions, and environmental awareness boosts the market growth.
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The growth in the global food & beverage industry and a significant increase in restaurants and food outlets also accelerate the development of the used cooking oil industry. Increasing use as additive in animal feed, rising focus on improving animal health, accelerating demand from emerging countries, and growing initiatives to promote sustainable energy sources are expected to provide growth opportunities in the used cooking oil industry during the forecast period.
Biodiesel dominated the industry in 2020 and is expected to maintain its dominance over the forecast period owing to the wide usage of UCO in the creation of fuels and UCO is more readily available and less expensive than vegetable fats, which enables biodiesel producers to use it as a key input in biodiesel manufacturing.
Europe generated the highest market share in terms of revenue in the global used cooking fats industry in 2020 and is expected to lead the industry throughout the forecast period. The growing population, urbanization, and industrialization increase the demand for UCO in the region.
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The well-known companies profiled in the UCO industry report include Baker Commodities Inc., Greenergy International Ltd, Darling Ingredients, Uptown Biodiesel Limited, Proper Oils, Argent Energy, Brocklesby Ltd, Devon Biofuels, Biomotive Fuel Ltd., and Lywood Consulting. These companies are consistently launching new products to enhance their offerings in the global UCO industry.
With the advancement of technologies, companies are innovating and introducing new customized solutions to cater the growing needs of the customers. Leading companies are also acquiring other companies and enhancing their product offerings to improve their industry reach. Acquisitions enable key players to increase their industry potential in terms of geographic expansion and expansion of customer base.
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This report aims to offer an in-depth analysis of all the important dynamics and development that will help to understand the market in better way.
The content offered in this report provides effect of restraints, growth drivers, trends, opportunities that will help in in-depth understanding of market.
The qualitative approach which is an exploratory approach and uses activities such as focus groups, in-depth interviews and Ethnographic research – which involves participant observation as part of field research and the quantitative approach uses objective measurements and numerical analysis of data that is collected through research methods such as surveys, polls and questionnaires.Get Sample report of “Used Cooking Oil Market” –https://www.fastmr.com/request-s/263Market Segmentation:By Source Household sector Commercial sector By Application Biodiesel Chemical Animal FeedOn the basis of Geographical Region- North America (U.S. & Canada) - Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe) - Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific) - Latin America (Brazil, Mexico, Argentina and Rest of Latin America) - Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa).Browse Full Report of “Used Cooking Oil Market”-https://www.fastmr.com/report/263/used-cooking-oil-marketThe research report provides a detailed analysis of the key players in the market, products, applications, and regional analysis which also covers government policies that will affect the market.The report helps in knowing all-inclusive views of the market that will help in making better understanding for business purposes.The report is full of objective data that will help in making best business decisions for its growth.
It can provide a deeper understanding on your customer and competitors.Similarly understanding the broader market environment can help to identify new prospects for the business.
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Having good market intelligence helps to minimise risks when making key business decisions.Why choose Used Cooking Oil market research report?Our research analysts focus collectively to prepare the research report and collected reliable facts and figures which will help you to give a boost in the competitive market.It helps to understand the market and identify key metrics such as market size and growth.
But in these competitive times, neither can it be expected that every eatery practices healthy means unmindful of profit margins, nor can it be expected that a large number of people avoid eating outside.
Entrepreneurs setting up Biodiesel plants get remunerative price and assurance of complete offtake of production by the Oil companies.
The state-run fuel retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp will collect used cooking oil from hotels, restaurants and canteens across 100 cities
Oil companies will pay Rs 51/ litre for Biodiesel for the first year, Rs 52.7 for the second year and Rs 54.5 for the third year
The Oil companies will also bear the cost of transportation and GST for the first year
As reported in the Live Mint, India uses 27 billion liters of cooking oil each year, of which 1.4 billion liters can produce 1.1 billion liters of biodiesel.
