Key Market Indicators
By 2028, British demand for biofuel is projected to rise to approximately 39,000 barrels of oil equivalent per day, up from around 34,000 barrels per day in 2023. This represents an average annual growth rate of 2%. Since 2007, the demand for biofuel in the UK has seen a significant increase, growing at an average rate of 7.3% year on year. On the production front, the UK's biofuel output is expected to reach roughly 12,000 barrels of oil equivalent per day by 2028, climbing from about 11,000 barrels per day in 2023. This also reflects an annual growth rate of 2%. However, despite this recent uptick, British biofuel supply has experienced a decline of 3.2% year on year since 2007.
