What is the forecast for wood pellets?
The wood pellet market is poised for steady growth over the next decade, reflecting its increasing importance as a renewable energy source. In 2024, the market size is estimated at USD 14.0 billion, driven by demand for sustainable alternatives for heating and power generation. Forecasts indicate that it will expand to USD 22.6 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.5% during the period from 2025 to 2033. This positive outlook is supported by global efforts to reduce carbon emissions, favorable government policies promoting biomass energy, and rising adoption in residential, industrial, and utility sectors, positioning wood pellets as a key contributor to the transition toward cleaner energy solutions through 2033.
Read the full report here: https://www.imarcgroup.com/wood-pellet-market
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