The estimated depletion of petroleum reserves by 2050 is an issue of concern. Although coal deposit is vast, coal combustion releases the highest amount of carbon dioxide to the environment compared to all other fuels. The anthropogenic effects of global warming are incessant; countries around the globe are showing commitment toward carbon mitigation by promoting the use of fuels that emit relatively a small amount of carbon to the environment. Biofuels have the potential to play vital roles in global carbon mitigation alongside other renewable fuels. This chapter presents a general overview of biofuels and their production. The market share of biofuels and the countries leading in the production, with a view of stimulating further investments, research, and development in biofuels, especially developing nations where their potential is yet to be harnessed, are discussed. © 2024 Elsevier Inc. All rights are reserved including those for text and data mining AI training and similar technologies.