As per our new research report Global Biofuel Market Analysis, the global bio-fuel market will witness a fast growth track from 2010 onwards in the backdrop of depleting fossil fuels and degradation of environmental conditions. It is forecasted that, the global bio-fuel market will grow at a CAGR of around 18% during 2010-2013. Further, many governments across the globe have been implementing mandatory bio-fuel blend with the conventional fuel to further boost up the demand for biofuel.

Our study indicates that, as the increased usage of renewable and alternative fuels can result in significant reductions in the usage of petroleum-based fuels; it will become a preference for the users around the world. Further, bio-fuel is also anticipated to indirectly help in reducing poverty by providing a cheaper and more secure source of fuel in the long-term as it will reduce the proportion of household income spent on high-priced energy.