The biofuels production in North America experienced a steady growth from 2013 to 2018, with notable annual increasing rates, peaking in 2017. This upward trend was disrupted in 2019 and particularly in 2020 due to significant reduction likely driven by external factors such as the global pandemic. However, 2021 saw a resurgence, continuing to rise through 2022 and 2023, where production stood at 773.6 thousand barrels of oil equivalent per day. The CAGR over the last five years up to 2023 averaged 1.37%. From 2024 onwards, forecasted data suggest continued growth in biofuels production, though at a modest annual average growth rate (CAGR) of 1.49% leading up to 2028.

Future trends to watch for:

Technological advancements in biofuel production efficiency.
Policy changes impacting renewable fuels standards.
Market dynamics driven by shifting consumer preferences towards sustainable energy.
Price fluctuations of raw materials and their impact on biofuels production costs.
Developments in alternative renewable energy sources potentially influencing biofuel demand.