Biodiesel Market Worth $51.47 billion by 2029

Biodiesel Market by Blend (B100, B20, B10, B5), Feedstock (Vegetable Oils {Rapeseed Oil, Palm Oil}, Animal Fats {Poultry, Tallow}), Application (Fuel {Automotive, Marine, Agriculture}), and Geography - Global Forecast to 2029.

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Biodiesel Market by Blend (B100, B20, B10, B5), Feedstock (Vegetable Oils {Rapeseed Oil, Palm Oil}, Animal Fats {Poultry, Tallow}), Application (Fuel {Automotive, Marine, Agriculture}), and Geography - Global Forecast to 2029.’

According to this latest publication from Meticulous Research^®, the biodiesel market is projected to reach $51.47 billion by 2029, at a CAGR of 3.6% from 2022–2029. The growth of this market is driven by the increase in consumption of biodiesel, the rising environmental concerns, and the increasing demand for biodiesel to replace fuels in transportation and power generation. However, performance concerns in diesel engines are expected to hinder the growth of this market to a certain extent. The government support from the North America, Latin America, Europe, and Asia-Pacific countries is expected to offer significant growth opportunities for players operating in the biodiesel market.

The global biodiesel market is segmented by blend (B100, B20, B10, and B5), feedstock (vegetable oils, animal fats, used cooking oil (UCO), and others), and application (fuel, power generation, and others). The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on blend, in 2022, the B100 segment is expected to account for the largest share of the global biodiesel market. The large market share of this segment is attributed to the benefits of the B100 blend, such as less flammable than petroleum diesel, low-pressure storage at ambient temperatures, and safer handling and transport. Furthermore, compared to the remaining biodiesel blends, B100 emits less carbon dioxide, carbon monoxide, sulfur, particulates and hydrocarbons.

Based on feedstock, the UCO segment is projected to register the highest CAGR during the forecast period. The fast growth rate of this segment is attributed to the increasing food service industry and the growing use of cooking oil in the production process of biodiesel. Furthermore, the growing awareness about environmental welfare and sustainable energy resources and the high use of UCO in China and India are expected to boost the demand for UCO in biodiesel production.

Based on the application, in 2022, the fuel segment is expected to account for the largest share of the global biodiesel market. The large market share of this segment is attributed to the increased use of fuel in automotive, agriculture, and marine industries, the rising environmental concerns, and the increasing pollution caused by automobile pollutants due to the use of petrol or diesel-based automobiles.

This research report also analyzes major geographies and provides a comprehensive analysis of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is slated to register the highest CAGR during the forecast period. The fast growth of this regional market is attributed to the increasing government blend mandates and environmental concerns over petroleum diesel usage. Furthermore, the growing preference for replacing fossil fuels related to higher greenhouse gas emissions is persuading demand for biodiesel in the Asia-Pacific countries. Hence, with the increasing blend percentage in countries, like Indonesia, Thailand, Malaysia, and India, the Asia-Pacific region is projected to witness the fastest growth rate during the forecast period.

Key Players

The key players operating in the global biodiesel market are Archer-Daniels-Midland Company (U.S.), Ag Processing Inc (U.S.), Avril Group (France), Biodiesel Bilbao S.L. (a subsidiary of Bunge Limited) (Spain), Cargill Inc (U.S.), Emami Agrotech Ltd (part of Emami Limited), FutureFuel Chemical Company (U.S.), G-Energetic Biofuels Private Limited (India), Louis Dreyfus Company (Netherlands), Münzer Bioindustrie GmbH (Austria), Renewable Energy Group (U.S), VERBIO Vereinigte BioEnergie AG (Germany), Wilmar International Limited (Singapore), and World Energy LLC (U.S.).

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Key Questions Answered in the Report-

Which are the high-growth market segments based on blend, feedstock, application, and region/country?
What was the historical market size for biodiesel across the globe?
What are the market forecasts and estimates for 2022–2029?
What are the major drivers, restraints, opportunities, and trends for the global biodiesel market?
Who are the major players in the global biodiesel market?
How is the competitive landscape, and who are the market leaders in the global biodiesel market?
What are the recent developments in the global biodiesel market?
What are the geographical trends and high-growth regions/countries?
Who are the local emerging players in the global biodiesel market, and how do they compete with the global players?

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