Used Cooking Oil is an oil which have been used for cooking or frying in the food processing industry, hotels, restaurants, catering, and at a consumer level in households. This used cooking oil is collected, refined, and brought into various use.
The global used cooking oil market forecast is segmented on the basis of source, application, and region. By source, it is classified into the household sector and the commercial sector. By application, it is divided into biodiesel, oleo chemicals, animal feed, and others. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, the Netherlands, and the rest of Europe), Asia-Pacific (China, India, Australia, Japan, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
By Source, the commercial sector segment is expected to be the fastest-growing segment during the forecast year. The rise in the number of food & service industries and hotels results in huge production of used cooking oil globally, which is collected in bulk quantity by the suppliers. In addition, the efforts taken by the used cooking oil suppliers for making an organized collection of used cooking oil along with providing containers to the restaurants for collecting used cooking oil contribute toward the growth of the Used Cooking Oil Market Opportunites.