Used Cooking Oil Market: Market Outlook
Used cooking oil is an oil which has been already used in food industries, restaurants, hotels, and in households. Used cooking oil is collected and after the refined to further use for different purposes. It is obtained from the wastewater treatment plants as a non-hazardous material. Used cooking oil is basically used for different applications such as biofuels, animal feed, and others. Used cooking oils once considered a waste product but after the refining process, the finished product emerge as a useful product for the fuel and other industries.
The major use of used cooking oil is used as biofuel for power generation and heating. Furthermore, in animal feed industry it is utilized as a high energy animal feed additives to produce the variety of animal food products. Wide suitability of used cooking oil has influenced the lot of manufacturers to produce the different types of product from the utilization of used cooking oil.
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Increasing number of hotel and restaurant chain in food processing industry is driving the growth of used cooking oil market
With the growth of the food processing industry, numbers of hotel and restaurant chains are increasingly growing which imply the more utilization of used cooking oil for the various applications. Hotel and restaurant are producing an excessive amount of used cooking oil due to the growing number of food products which is anticipating to drive the used cooking oil market. Moreover, government initiatives regarding the renewable source of energy are implying the use of biofuel which is further boosting the utilization of used cooking oil.
Collection of used cooking oil and the refining process is a costly arrangement for the manufacturers which can affect the used cooking oil production and as well as retrain the used cooking oil market. In addition, excessive consumption of used cooking oil can take along the harmful health issues which may further hamper the growth of used cooking oil during the forecast period.
Global Used Cooking Oil Market Segmentation
On the basis of source, global used cooking oil market is segmented as:
- Food manufacturers
- Restaurant and caterers
- Hotels
- Household
- Others
On the basis of end-use, global used cooking oil market is segmented as:
- Bio-fuels
- Animal feed
- Chemical
- Others
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Global Used Cooking Oil Market: Key Players
- Argent Energy
- Baker Commodities Inc
- Brocklesby Ltd.
- Devon Waste Oils
- Devonamic
- Biomotive Fuel Ltd.
- Harvest Energy
- Darling Ingredients Inc.
- Olleco
- Greenergy International Ltd
Opportunities for market participants in the global used cooking oil market
Used cooking oil offers a sustainable solution in the biofuel industry and as well as utilized for animal feed which provides the manufacturers better opportunities to promote the used cooking oil in the market and gain the potential growth in the used cooking oil market. In addition, offering the used cooking oil in emerging countries can further improve the consumption of used cooking oil at the global stage. Spreading awareness about the viable solutions of used cooking oil may further boost the growth of manufacturers of used cooking oil and as well as provide a potential growth to the used cooking oil market.