Market Research Future (MRFR) assessed the Global COVID-19 Pandemic Impact on Used Cooking Oil Market 2020 for the review period till 2025. As per MRFR assessment, the used cooking oil market can value at USD 895.07 Million by 2025. The used cooking oil rise at 4.03% CAGR in the forecast period. The expansion of the used cooking oil market can be attributed to rise in the demand for biodiesel across hotels/restaurants/cafés (HORECA). The rise in awareness about the reuse facility of cooking oil can offer lucrative opportunities scope for the UCO suppliers, which, in turn, can bolster the expansion of the used cooking oil (UCO) market across the analysis period. In addition, the emergence of new energy marketers in the region can support the used cooking oil market growth across the review period.
However, the lack of effective management and the presence of small-scale collectors can hinder the market growth.
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Baker Commodities Inc. (US), Darling Ingredients Inc. (US), Argent Energy (UK), Argent Energy (UK), Veolia Environnement S.A. (France), Olleco Ltd. (UK), Arrows Oils Ltd (UK), Waste Oil Recyclers Inc. (US), Greasecycle (US), Grand Natural Inc. (US), and Brocklesby Limited (UK) are some reputed names in the cooking oil (UCO) market that are listed by MRFR.
The Segment Assessment of the COVID-19 Pandemic Impact on Used Cooking Oil Market is done by source and application.
The source-based segments of the used cooking oil market are HORECA, food manufacturers, and household, among others. The HORECA segment can rise at growth pace of 4.18% in the analysis period. The expansion of the HORECA segment can be attributed to the rise in the demand for takeaway food across emerging economies. In addition, developments in the e-commerce sector and surge in on-the-go food services can bolster the rise of the market across the assessment period.
The application-based segment of the global COVID-19 Pandemic Impact on Used Cooking Oil Market are oleochemical products, biodiesel, and animal feed, among others. The biodiesel segment can retain the largest share of the global market. As per MRFR assessment, the biodiesel segment can value above USD 473.89 Mn. The biodiesel segment is expected to rise at 4.15% CAGR across the analysis period. The oleochemical segment market can hold about 19.65% share of the worldwide used cooking oil (UCO) market that can rise at 3.74% growth rate in evaluation period.
Detailed Regional Analysis
Trends and influential forces of the cooking oil (UCO) market is analyzed across Europe, APAC, North America, and the rest of the world (RoW). According to regional evaluation by MRFR, Europe can dominant the global across the assessment period. Asia Pacific used cooking oil market can register 4.53% CAGR in the assessment period and the market in North America can value above USD 280.42 Mn by 2025. In the region, the US is expected to head the market.
Europe can thrive in the years to come as used cooking oil (UCO) are used largely across the energy and power sector. The existence of robust energy sector and surge in energy consumption can support the expansion of the regional market across the study period. The dominance of EU UCO market can also be attributed to the firm technical base of the market. Germany is expected to exhibit the highest growth pace in the region. North America, following Asia Pacific, can secure a significant share of the worldwide market as the increase in production capacity of bioenergy is observed in these regions through the review period.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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