Used cooking oil(UCO) market to reach $10.9 billion by 2032

The used cooking oil market is expected to be valued at over US$10.9 billion by 2032, says a report by Global Market Insights.

‘The market is expanding due to growing demand for sustainable solutions, with biodiesel production being one of the major applications. As an environmentally friendly energy source, biodiesel made from used cooking oil helps reduce waste and supports recycling. In addition to biodiesel, used cooking oil is increasingly being used in animal feed, cosmetics and various industrial applications,’ the report states.

The report states that the used cooking oil market will be valued at $2.7 billion in 2023 and is expected to grow at a CAGR of 5.9 per cent through 2032.

The report adds, ‘The used cooking oil market in China will be valued at USD 2.2 billion in 2023 and is expected to grow at a CAGR of 5.7 per cent by 2032.’