According to Cognitive Market Research, the global Biomass Pellets market size will be USD 9815.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 3926.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2944.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2257.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 490.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 196.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
In 2023, Forest and wood waste dominated the global biomass pellets market
