Used Cooking Oil (UCO) Market Size, Share, Growth Analysis, By Source(Household sector, Commercial Sector), By Application(Animal Feed, Biodiesel, Oleo Chemicals, and Others), By Region - Industry Forecast 2024-2031

Global Used Cooking Oil (UCO) Market size was valued at USD 6.1 Billion in 2019 and is poised to grow from USD 6.45 Billion in 2023 to USD 10.13 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The used cooking oils (UCO) are simple fats and oils that are frequently used for frying in homes, hotels, restaurants, coffee shops, and the food processing industry. Additionally, by following a crucial process, these used cooking oils can be recycled, and they can be widely applied in a variety of industries to create oleochemicals, biodiesel, and soaps.

The expansion of the used cooking oil market is anticipated to be driven by rising government initiatives to encourage UCO use for industrial purposes in the coming years. The increased awareness of renewable energy sources and environmental preservation is projected to cause a significant increase in the global market for used cooking oil (UCO). The continuously changing food and foodservice sector, which uses unique preparations, has had a direct impact on UCO's entire production. Recent developments in the technology that transforms used cooking oil into high-quality refined oil is another factor expected to encourage the expansion of the market as a whole.

US Used Cooking Oil Market is poised to grow at a sustainable CAGR for the next forcast year.