The markets representing high growth rate are Sweden (32.2%), Colombia (24.4%), India (19.7%), and Thailand (16.3%).
According to the report, Biofuels Market by Technology, Feedstocks, Regulations, Pricing & Commercialization Trends & Forecasts (2011-2016), published by MarketsandMarkets, biofuels are gaining importance in recent years due to their low carbon emissions, government support, growing automobile industry, volatile and rising crude oil prices, and energy sustainability with new opportunities resulting in scaling up production with utilization of new feed stocks such as jatropha and algae for biodiesel and cellulosic feed stocks for bioethanol.
In 2010, 107.6 billion litres of biofuel were produced globally, of which top and emerging countries accounted for 84.5% of production.
As of 2010, the global biofuels production market is largely dominated by the US (45.9%), Brazil (29.3%), and France (3.75%). These countries have mature markets as compared to other countries. Countries such as India (1.3%), Spain (1.14%), and Thailand (1.04%) are in growth stage, while countries such as Sweden (0.33%), Netherlands (0.33%), Belgium (0.63%), and Colombia (0.65%) are at a nascent stage in biofuel production.