Global Used Cooking Oil Market (2022 to 2027) – Industry Trends, Share, Size, Growth, Opportunity and Forecasts – QNT Press Release

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DUBLIN, July 1, 2022 /PRNewswire/ — The “Used Cooking Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global used cooking oil market reached a value of US$ 5.65 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 8.46 Billion by 2027, exhibiting a CAGR of 6.96% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Used cooking oil (UCO), or waste vegetable oil, is produced by the repeated use of cooking oils in hotels, restaurants, food processing units and household sectors. It is the leftover cooking oil and is obtained from sunflower, corn, canola, olive , palm, rapeseed, soya oils and animal fats.

It is also available in mixed compositions. Recycled and processed UCOs are widely used for the manufacturing of soaps, composts, oleochemicals, hydrogenated vegetable oils (HVO), industrial greases, biodiesels and animal feed. In comparison to the traditionally used materials, UCO is highly cost-effective, environment-friendly and readily available in bulk quantities for mass production of various products.

The increasing adoption of bio-based fuels across the globe is one of the key factors driving the market growth. The consumer preference is rapidly shifting from petroleum-based fuels toward biodiesel and green energy fuels with a lower carbon footprint due to rising environmental consciousness. Moreover, the widespread adoption of UCO in the manufacturing of animal feed is providing a thrust …

Full story available on Benzinga.com

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