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.
Europe is projected to lead the global used cooking oil market, due to its widespread use of waste-to-energy goods. The EU is making significant efforts to expand biodiesel production throughout Europe. According to the European Commission, biodiesel will replace a large portion of diesel usage by EU27. Governments in this region are developing regulations to encourage the collection and processing of used cooking oil from cafés, restaurants, lodging facilities, catering companies, and hotels. The regional market is expanding as a result of advertising activities that raise knowledge about the recycling of used cooking oil.
Recent improvements in garbage recycling technology have inspired people to recycle waste materials and turn them into environmentally friendly products. The used cooking oil has a huge potential for being processed into different biofuels to provide electricity. Utilizing used cooking oil to make biodiesel results in cleaner burning fuel with a smaller carbon footprint. Compared to petroleum diesel, they also generate less carbon monoxide and are more affordable.