The expansion of the food and beverage (F&B) industry and the rising cooking oil consumption represent one of the key factors positively influencing the market. Additionally, the increasing awareness among the masses about the importance of proper waste disposal to promote ecological health is offering a favorable market outlook.
The increasing utilization of used cooking oil in formulating animal feed is strengthening the growth of the market. Furthermore, governing bodies of various countries are imposing several stringent environmental regulations to promote the proper disposal of used cooking oil for encouraging recycling and utilization.
Regulatory bodies operating in numerous countries are charging fines and penalties for improper disposal, which is propelling the market growth. Moreover, the rising utilization of used cooking oil in bio-lubricants is another significant factor bolstering the market growth. Besides this, the cultural shift towards recycling in communities and the increasing participation of individuals in used cooking oil collection programs is favoring the market growth.
The widespread adoption of used cooking oil in cosmetics and personal care products is driving its demand globally. Refined and processed cooking oil is a source of fatty acids and emollients in skincare products.