Biofuel from Sugar Crops Market Size

Biofuel from Sugar Crops Market Analysis

The biofuel from sugar crops market is expected to grow at a CAGR of over 4% during the forecast period of 2020 - 2025. Factors such as rising environmental concerns over greenhouse gases emissions from conventional fuels, and superior economic prospects over conventional fuels are expected to be major drivers driving the market. The rising demand for clean energy over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the biofuel from sugar crops market. However, lack of infrastructure, general lack of awareness on benefits of biofuels, and lack of biofuel producing crops in different countries have somewhat hampered the growth of the market.

• Automotivesector is expected to dominate the biofuel from sugar crops market in forecast period, owing to various factors such as favorable government policies on biofuel compatible vehicles due to rising concerns over greenhouse gases emissions.
• Countries such as India, have a huge production of sugarcane, which is the most used primary source for biofuels from sugar crops. With the country's rising energy need and concerns over pollution from energy production from conventional sources and automobiles, owing to the stated reasons the region have a huge potential for biofuel from sugar crops market.
• South America is expected to dominate the market with majority of the demand coming from the countries such as the Brazil and Argentina, owing to the factors like high production of sugar crops like sugarcane, mandated use of ethanol according to government policies, and economical benefits of biofuel over conventional fuels.