Market Size of Biodiesel Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 34.66 Billion |
| Market Size (2029) | USD 50.22 Billion |
| CAGR (2024 - 2029) | 7.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Biodiesel Market Analysis
The Biodiesel Market size is estimated at USD 34.66 billion in 2024, and is expected to reach USD 50.22 billion by 2029, growing at a CAGR of 7.70% during the forecast period (2024-2029).
- Over the medium term, factors such as the increasing demand for environment-friendly fuels that reduce greenhouse gas emissions and government support for biodiesel production by providing subsidies are expected to drive the biodiesel market during the forecast period.
- On the other hand, the need for more feedstock availability for bio-diesel generation and declining crude prices globally may hinder the growth of the bio-diesel market.
- Nevertheless, countries like the United States, Germany, and the United Kingdom are stressing biodiesel blending. More countries, like India and China, are adopting such initiatives, which are expected to create ample market opportunities in the coming years.
- The Asia-Pacific region will likely grow significantly during the forecast period due to growing production in Indonesia, Thailand, China, and Malaysia. It is expected to drive the biodiesel market in the region.
