Biodiesel Market Analysis

By Feedstock (Vegetable Oil, Animal Fats)

In 2023, the vegetable oil feedstock segment accounted for over 91.8% of the revenue generated in the overall biodiesel market. Its dominance in the market is very large relative to the availability and high yield of production. The reuse of waste vegetable oils in the production of biodiesel is also considered a green trend which may give a further push to this sector. In February 2024, Renewable Energy Group announced that it had expanded its vegetable oil-based biodiesel production facility in the U.S.

Application (Fuel, Power Generation, Others)

The fuel application segment is expected to remain dominant in the global biodiesel market, with a share of approximately 81.0% during the forecast period owing to high demand for biodiesel as an alternative to conventional diesel in the transportation industry. In 2020, Neste Corporation declared that it was expanding the production of its renewable diesel to cater to the increased demand for road transport fuels, which further strengthened this share.

Our in-depth analysis of the global market includes the following segments:

By Feedstock	Vegetable Oil Animal Fats
Application	Fuel Power Generation Others
Production Process	Alcohol Trans-Esterification Hydro-Heating

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of asset performance management is assessed at USD 41.67 billion.

The biodiesel market size was over USD 38.64 billion in 2024 and is projected to reach USD 130.28 billion by 2037, witnessing around 9.8% CAGR during the forecast period i.e., between 2025-2037. The market growth is due to increasing concerns about the environment and the growing need for renewable energy sources.

Europe industry is predicted to hold largest revenue share of 45% by 2037, due to strong regulatory support and a robust focus on renewable energy adoption in the region.

The major players in the market are Archer Daniels Midland Company (ADM), Wilmar International Ltd, Bunge Ltd., FutureFuel Corp, Ecodiesel Colombia S.A., Manuelita S.A., TerraVia Holdings, Inc., Renewable Biofuels, Inc., Ag Processing, Inc., Neste Oyj, Renewable Energy Group, Inc. are some key players in the market.

Biodiesel Market Analysis