Middle East and Africa Used Cooking Oil Market

Middle East and Africa Used Cooking Oil Market Size (2024 to 2029)

Middle East and Africa Used Cooking Oil Market is expected to be USD 0.34 billion in 2024 to reach USD 0.40 billion by the end of 2029, growing at a CAGR of 3.23% from 2024 to 2029.

Used cooking oils (UCO) are oils and fats that have been used for cooking or frying in the food industry, in hotels / restaurants / cafeterias (HORECA) and in the home. UCO is recycled and used in various industries to produce biodiesel, soaps and oleochemicals, among others. Used cooking oil replaces vegetable oil in the production of biodiesel, oleochemicals and feed. The used kitchen is considered a waste and does not compete in the market. Therefore, its cost is less than that of vegetable oil and it is readily available in bulk. This is driving the growth of the used cooking oil market.

With the growth of the food industry, the number of hotel and restaurant chains is increasing more and more, which implies a greater use of used cooking oil for the various applications. Hotels and restaurants produce an excessive amount of used cooking oil due to the increasing number of food products that are expected to drive the used cooking oil market. In addition, government initiatives regarding the renewable energy source involve the use of biofuels, further stimulating the use of used cooking oils. The collection of used frying oil and the refining process is an expensive fix for manufacturers that can affect the production of used frying oil and thus recycle the used frying oil market. Used cooking oil offers a sustainable solution in the biofuel industry and is also used for animal feed, giving manufacturers better opportunities to promote used cooking oil on the market and gain potential growth in the Middle East and Africa Used Cooking Oil Market. Additionally, offering used frying oil in emerging countries can further improve the consumption of used frying oil globally. Additionally, excessive consumption of used cooking oil can lead to harmful health problems that can further hamper the growth of used cooking oil during the forecast period.

This Research Report on Middle East and Africa Used Cooking Oil Market is segmented, and sub segmented into following categories

Middle East and Africa Used Cooking Oil Market By Sector

• Household
• food services

Middle East and Africa Used Cooking Oil Market By Application   

• Industrial Usage
• Animal Feed
• Others

Depending on the application, it is segmented into industry usage, Animal Feed and others.

IMPACT OF COVID-19 ON MIDDLE EAST AND AFRICA USED COOKING OIL MARKET

COVID-19 is an unrivaled global public health emergency that has affected nearly every industry, so long-term effects are expected to affect industry growth during the forecast period. Ongoing research amplifies the research framework to ensure inclusion of the underlying issues of COVID-19 and possible future pathways. The report provides insights on COVID-19 taking into account changes in consumer behaviour and demand, purchasing patterns, supply chain deviation, the dynamics of current market forces, and major interventions. The updated study provides information, analysis, estimates and forecasts, considering the impact of COVID-19 on the market.

Middle East and Africa Used Cooking Oil market By Region

• South Africa
• Egypt
• Saudi Arabia
• United Arab Emirate
• Israel
• Rest of Middle East and Africa

The Middle East and Africa Used Cooking Oil market has been classified on the basis of geography to offer a clear understanding of the market. The Middle East and Africa Used Cooking Oil Market has been divided into South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and Rest of Middle East and Africa. The Middle East and Africa are expected to experience slow growth during the forecast period due to the presence of an underdeveloped economy. Middle Eastern countries like; Qatar and Saudi Arabia are expected to make significant contributions to trade development during the period under review. The high demand for Used Cooking Oil in the developing countries of the Middle Eastern countries of Iran and Saudi Arabia is a major growth factor for the Middle East and Africa Used Cooking Oil Market.

Ach Food Companies Inc had the largest share of the Middle East and Africa Used Cooking Oil Market in terms of sales revenue in 2021.

KEY PLAYERS IN MIDDLE EAST AND AFRICA USED COOKING OIL MARKET

The Middle East and Africa Used Cooking Oil Market is concentrated with well-established players. Key players in the Middle East and Africa Used Cooking Oil Market include Cargill Investment (China) co. ltd, Ach Food Companies Inc, Cargill Agricola S.A, Carapelli Firenze S.P.A, Bunge Middle East and Africa, Bunge Alimentos SA, Beidahuang Group, and Archer Daniels Midland Company.

RECENT HAPPENINGS IN THE MARKET

• PDM Group, a Doncaster-based food waste and recycling company, agreed to acquire Ashworths Products from director Robson Rhodes LLP. The acquisition includes a collection service and dedicated processing plant in Accrington, Lancashire, which is capable of recycling 1,000 tons of used oil each week into biodiesel. The company reaches an approximate turnover of 8.3 million euros and will be integrated into the renewable energy division of the PDM group.
• Renewable Energy Group, Inc. announced today that its wholly owned subsidiary has completed the acquisition of IC Green Energy's (ICG) majority stake in German biodiesel producer Petrotec AG. The REG subsidiary also purchased the ICG loan from Petrotec AG for approximately US $ 15.4 million. REG European Holdings B.V. intends to make a cash tender offer in the coming weeks for all other Petrotec shares at a price not less than the value per share received by ICG.
• National oil trading companies IndianOil, Bharat Petroleum and Hindustan Petroleum NSE 0.09% launched a program on Saturday to source used cooking oil-based biodiesel in 100 cities across the country. The program was officially launched by the Minister of Oil and Natural Gas, Dharmendra Pradhan, by virtue of which the three MOCs would invite private entities to express their interest in the installation of biodiesel production plants from.
• The Federal Trade Commission today filed an administrative complaint alleging that JM Smucker Co.'s proposed $ 285 million acquisition of Conagra Brands, Inc.'s Wesson brand of cooking oil "is likely to" significantly reduce competition or create a monopoly.“ In violation of the Clayton Act; thereby reducing competition in the United States for vegetable and canola oils. Smucker currently owns the Crisco brand and, by acquiring the Wesson brand, would control at least 70% of the vegetable oil market and brand name canola sold to grocery stores and other retailers.
• Mahoney Environmental, a leading recycler of used cooking oil for 65 years, announced that it has purchased Green Oil, LLC from Green Dining, a used oil recycling and grease collection Services Company based in Phoenix, Arizona. The integration of Green Dining into Mahoney Environmental will provide direct service to Mahoney Arizona customers. The acquisition in December 2017 of this recycling company is perfectly in line with Mahoney's environmental strategy aimed at expanding our reach in direct service to our customers for the collection of used cooking oils, maintenance of grease traps, plumbing, recycling and other substantive services needs of our clients.