Biomass Market is predicted to reach USD 87,875.1 Million at a CAGR of 7.30% during the forecast period 2023-2030

Market Research Future (MRFR) has published on the “Global Biomass Market”.

The Biomass Market is estimated to register a CAGR of 7.30% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the Global Biomass Market— Babcock & Wilcox Enterprises, Inc (B&W) (US), Dalkia (France), EnviTec Biogas AG (Germany), Ameresco Inc. (US), Drax Group (UK), Orsted A/S (Denmark), MVV Energie AG (Germany), Mitsubishi Heavy Industries, Ltd. (Japan), Vattenfall AB (Sweden) and Statkraft AS (Norway).

Market Highlights

The Global Biomass Market is accounted for to register a CAGR of 7.30% during the forecast period and is estimated to reach USD 87,875.1 Million by 2030.

Energy obtained from dead plants and animals that are currently or recently were living things is known as biomass energy. Sunlight energy from the photosphere is transformed into chemical energy that is stored in plants through the process of photosynthesis. Plants provide chemical energy that animals ingest and store. Biomass contains chemical energy that can be turned into heat, electricity, and fuel. In recent research, evasive species like seaweed are employed as a source of bioenergy. Plants that produce oil can be categorized as woody, cellulosic, or both. Biomass is one of the principal renewable energy sources with the least carbon footprint. It primarily uses the residual garbage to generate power, which not only aids in the decomposition of the waste but also solves the issue of unlawful trash disposal. Biomass power generation is expected to be carbon neutral or to have much lower carbon emissions when compared to other sources. Due to its accessibility, biomass is used extensively for cooking and heating throughout the world. Additionally, biomass is utilized to generate electricity, heat residences, cook meals, and supply heat to industry. The market for biomass is fueled by the fact that it balances socioeconomic variables by safeguarding the environment in addition to using the leftover waste to generate significant electricity. It is frequently used because raw materials are inexpensively available, and biomass is seen as an environmentally friendly kind of energy. Both factors indicate that the market for biomass power generation will increase.

The Global Biomass Market is expected to be driven by Rising need to control the greenhouse gas emissions. The growing concern over global warming, combined with deteriorating climatic and environmental circumstances because of excessive pollution, has compelled the development and deployment of clean and green energy. As a result, Biomass is a clean and green energy source that is predicted to increase at a large rate during the forecast period. Energy efficiency, electrification, renewable energy, Biomass and Biomass-based fuels, and carbon, capture, utilization, and storage are some of the major technological pillars to decarbonize the world energy system. Modern bioenergy derived from biomass is a promising nearly emission-free fuel because when this biomass is used to generate electricity, the carbon is liberated during combustion and only returns to the environment. The development and deployment of new technologies are necessary as a result of the growing concerns about global warming and the deteriorating climatic and environmental conditions caused by the excess pollution as a result of significant greenhouse gas emissions. This increased need for renewable energy sources has pushed the use of biomass for energy and power generation, opening up lucrative market opportunities.

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Segment Analysis

The Global Biomass Market has been segmented based on Feedstock, Technology, Product, End Use, and region.

The global biomass market has been segmented into Food Crop, Non-Food Crop, Wood, Agricultural Residue, Municipal Solid Waste (MSW), Microalgae and Others. In 2022, the wood segment drove the Global Biomass Market by holding a substantial market share with a market value of USD 18,025.3 million. Wood biomass is an energy source derived from trees. Wood biomass is classified as sawmill residues and construction scrap wood. Wood biomass is used for the conversion of biomass electricity. The energy produced from biomass is also good for the climate, especially while applying sustainable forest management practices and efficient use of biomass to produce electricity, such as using CHP plants or bio-refineries. According to a report published by World Bioenergy, in 2019, around 1.9 billion m3 (meter cubic) of wood biomass fuel was generated globally. It is also reported that major regions such as Africa and the Americas held the highest share of wood fuel production by contributing 36% and 37% of global woody biomass fuel, respectively.

The global biomass market has been segmented into Combined Heat and Power (CHP), Anaerobic Digestion, and Gasification, Co-Firing and Landfill Gas. In 2021, the Combined Heat and Power (CHP) segment drove the Global Biomass Market by holding a substantial market share with a market value of USD 31,086.6 million. It is projected to register a CAGR of 7.42 % during the projected timeframe. Combined heat and power (CHP) is the technology used for the conversion of biomass into power. In this technology, there is simultaneous generation of multiple forms of renewable energy (usually mechanical and thermal) from biomass resources in a single, integrated system. About 90% of the energy potential contained in the fuel is converted on average into electricity through CHP systems as it employs both electricity and heat for the generation of power. For instance, in Germany, in November 2019, a major energy utility, EON, announced plans to build a biomass-fired CHP plant on a paper mill site in Wurth, Germany. The new plant is designed for a thermal capacity of 87 MW with an electrical power output of 20 MW. The segment is anticipated to grow significantly during the forecast period due to its higher efficiency in the generation of power.

The global biomass market has been segmented into Biodiesel, Biomethanol, Biogas and Others. In 2022, the Biodiesel segment drove the global biomass market by holding a substantial market share with a market value of USD 25,197.1 million. Biodiesel is a sustainable, biodegradable fuel made domestically from biomass feedstocks such as vegetable oils, animal fats, or used restaurant grease. Vegetable and animal lipids are transesterified to create biodiesel. The primary feedstocks used to produce biodiesel in the United States are vegetable oils, mostly soybean oil. Animal fats from meat processing facilities, used/recycled cooking oil, and yellow grease from restaurants are other significant U.S. biodiesel feedstocks. In other nations, palm oil, sunflower oil, and rapeseed oil are the main feedstocks used to produce biodiesel. Algae has the potential to be used as biofuels. Algae have pockets of fat that keep them buoyant; these fat pockets can be harvested and converted into biofuels. The physical characteristics and applications of biodiesel can be impacted by the feedstocks used in its manufacture. Biodiesel is used to power compression-ignition engines, the same as petroleum diesel.

The global biomass market has been segmented into Industrial, Commercial and Residential. In 2022, the Commercial segment drove the global biomass market by holding a substantial market share with a market value of USD 27,022.8 million.  The commercial segment involves the use of renewable energy sources to power commercial buildings, such as office spaces, showrooms, movie theatres, and food courts. Large multinational companies such as Google LLC and Apple Inc. are now looking to completely rely on renewable sources of energy for powering most of their electrical systems and electronics commercial buildings, as a result of which the commercial segment is expected to witness significant growth during the forecast period. For Example: On 31st March 2021, Apple Inc. announced that 110 of its manufacturing suppliers, including those in India, would be moving to “100 percent renewable energy" to produce Apple’s products. The company also stated that its partners have nearly 8 gigawatts of planned clean energy set to come online by 2030.

Regional Analysis

By Region, the study segments the Biomass Market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia-pacific market is mainly driven by the availability of raw materials and increasing demand for biomass energy across the region in various end-use sectors. Due to the rise in population and increased per capita income, demand for biomass products such as biogas, biodiesel, biomethane, and others. For instance, as per the Ministry of Petroleum and Natural Gas, the procurement of biodiesel by OMCs has increased from 1.1 crore litres in 2015–16 to 10.56 crore litres in 2019–20. Europe is expected to show healthy growth in the market for biomass during the forecast period. This is due to major biomass manufacturers and technology solution providers in the region and the focus on sustainable development is accelerating the market growth. North America is also expected to show lucrative growth in the forecast period, further categorized into US and Canada.

Key Findings of the Study

• The Global Biomass Market is expected to reach USD 87,875.1 Million by 2030, at a CAGR of 7.30% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Feedstock, the wood segment was attributed to holding the largest market in 2022.


• Based on Technology, the Combined Heat and Power (CHP) segment was attributed to holding the largest market in 2022.


• Based on Product, the biodiesel segment was attributed to holding the largest market in 2022.


• Based on End Use, the commercial segment was attributed to holding the largest market in 2022.


• Babcock & Wilcox Enterprises, Inc, Dalkia, EnviTec Biogas AG, Ameresco Inc., Drax Group, Orsted A/S, MVV Energie AG, Mitsubishi Heavy Industries, Ltd, Vattenfall AB and Statkraft AS are the key market players.