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First Generation Biofuel Market Size

  • Report ID: GMI9452
  • Published Date: May 2024
  • Report Format: PDF

First Generation Biofuel Market Size

First Generation Biofuel Market size was valued at USD 151.3 billion in 2023 and is anticipated to grow at a CAGR of 7.1% between 2024 and 2032. Growing concerns over climate change and the imperative for sustainable energy sources have spurred governments to bring policies to support the use of biofuels. Furthermore, technological advancements have enhanced the efficiency and cost-effectiveness of biofuel production. Increased consumer awareness of the environmental advantages associated with biofuels has further driven demand.


Collaborative efforts between governments, corporations, and research institutions have facilitated the establishment of supportive infrastructure and regulatory frameworks. For instance, in March 2022, BioEnergy International GmbH inaugurated a cutting-edge biodiesel production facility in Hungary. Expected to supply fuel for 70,000 vehicles and reduce carbon dioxide emissions by 150,000 tons, this facility is crucial in Hungary's ambition to slash greenhouse gas emissions by 55% by 2030 and achieve climate neutrality by 2050. Consequently, the first-generation biofuels market is experiencing steady growth, with forecasts indicating continued expansion in the foreseeable future.


Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of first generation biofuel reached USD 151.3 billion in 2023 and is set to witness 7.1% CAGR during 2024 to 2032, led by growing concerns over climate change and the imperative for sustainable energy sources.

The ethanol segment held a decent share in 2023 and will exceed USD 115.5 billion by 2032, due to increasing government mandates for blending ethanol with gasoline.

North America market will surpass USD 110.2 billion by 2032, driven by government mandates for ethanol blending and robust agricultural infrastructure.

Biogreen Synergy, Blue Soe, Borregard, Caterpillar, Chevron, Coasan, DuPont, Future Fuel, Green Plains, Montuk Renewables, and Neste among others.

First Generation Biofuel Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 15
  • Countries covered: 17
  • Pages: 350
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