The global wood pellets market is experiencing a significant upswing driven by the increasing demand for renewable energy sources and the decline in reliance on fossil fuels. This market is projected to reach USD 5.89 billion by 2028, growing at a CAGR of 8.09%. This growth is fueled by the shift towards cleaner energy sources in the power industry, particularly in countries like China and India, where coal power plants are being replaced with renewable alternatives. Wood pellets, a carbon-neutral energy source, are emerging as a viable replacement for coal in power generation and heating applications.