The European Union is the world’s largest consumer of wood pellets, with total consumption reaching an estimated 22.6 million metric tons (MMT) in 2024. This represents a 5.9 percent decline from 24.0 MMT in 2023. EU consumption peaked in 2022 due to high fossil energy prices. In 2023 and 2024, pellet consumption fell for the first time since 2015. Industrial use declined due to power plant outages and low electricity prices, while residential use decreased following stockpiling in 2022 and a mild winter in 2023/2024. In 2025, EU wood pellet consumption is forecast to ...