Global biofuels market value 2021-2030

The global biofuels production market was valued at nearly 120 billion U.S. dollars in 2023. Figures are projected to continuously increase until 2030 when the biofuels market is forecast to amount to more than 175 billion U.S. dollars.
More information on the global biofuels production market can be found here.

Largest biofuel producers

Biofuels are especially prevalent in the transportation sector and have been marketed as a renewable alternative to petroleum-based motor fuels such as gasoline and diesel. Ethanol and biodiesel are the most common biofuel types, which are won from distilling and refining feedstocks such as crops, vegetable oils, and cooking fats. Although biofuel adoption has increased, they are usually blended with gasoline and diesel in order for them to work in regular combustion engines. The United States is the leading biofuel producing country in the world, followed by Brazil and Indonesia.

Biofuels production to exceed 200bn liters

Both ethanol and biodiesel production is forecast to increase in the coming years. In 2024, a biofuel production forecast suggests worldwide output could edge close to 200 billion liters per annum.