India Used Cooking Oil Market Outlook 2023-2028 According to the latest research report, the India used cooking oil market size reached 3.2 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 4.1 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.3% during 2023-2028.
India Used Cooking Oil Market Trends and Drivers:
The widespread adoption of UCO as a feedstock to produce biodiesel is serving as a key driver of market growth in India. Biodiesels manufactured using waste cooking oil possess a lower carbon footprint and emit reduced amounts of carbon monoxide, further propelling market growth. In line with this, the rising consumer awareness regarding ecological sustainability and escalating concerns about high carbon emission levels from conventional fuels are favoring the demand for clean and renewable fuel alternatives, further bolstering the UCO market's growth trajectory.
Request a free sample copy of the report: https://www.imarcgroup.com/india-used-cooking-oil-market/requestsample
Apart from this, the increasing product utilization as an eco-friendly and sustainable substitute for petroleum-based raw materials in the production of oleochemicals is positively influencing market growth. Additionally, the significant growth in the food processing industry and the rapid establishment of hotel and restaurant chains generating an excessive amount of used cooking oil are further catalyzing market growth.
Other factors anticipated to drive the market toward growth include extensive research and development (R&D) activities, widespread product adoption for manufacturing animal feed, and the implementation of various government initiatives promoting the usage of bioenergy to reduce carbon footprints.