In modern conditions of economic globalization, strengthening market relations and aggravated competition, the economic development of an enterprise directly depends on the introduction of innovations. The transition to an innovative path of development requires the enterprise to determine its readiness and assess the possibility of development and the further implementation of innovations. Modern trends in the production of conventional liquid fuels in Ukraine, in particular, analysis of the production of motor gasoline and primary oil refining in Ukraine, the share of motor gasoline produced in Ukraine in the total volume of gasoline used, the volume of bioethanol production by Ukrainian distillery factories have been analyzed in the article. An assessment of the resource production potential for the production of bioethanol in Ukraine has been carried out. Possibilities of bioethanol production in Ukraine at distilleries have been investigated. An analysis of molasses production in Ukraine and theoretically possible volumes of bioethanol production from molasses in Ukraine have been calculated. The scheme of key strategic priorities for the development of the food ethanol and bioethanol in Ukraine has been proposed. The advantages of using bioethanol in the gasoline-ethanol blends for vehicles have been noted, a SWOT analysis map for organizing the production of bioethanol at sugar beet processing plant and distilleries has been generated. The needs of Ukraine in the production of bioethanol have been calculated and, according to the results obtained, the volumes of bioethanol production have been predicted.

The global biofuel industry is characterized by a wide range of legislative and regulatory measures for the development of bioenergy. In order to stimulate the production of biofuels, a set of measures has been developed, including legislative regulation, indicative planning of production volumes, preferential taxation and budget support. Ukraine is among the top ten largest consuming countries of energy resources. Weak and inconsistent state policy in the sphere of biofuels as well as inconsistent legislative provisions regulating activities in the field of production, circulation and use of biofuels, impede the effective development of the biofuel market in Ukraine. The purpose of this article is to determine the components of the system of state regulation of bioenergy and to identify effective mechanisms with regard to improving the legal regulation of the biofuel market in Ukraine. The management processes discussed in this article are provided by several methods, which particularly relate to the functioning of power structures and the end results or goals of the public administration system. Currently, there are significant inconsistencies in the formation and further functioning of the regulatory framework with the legislation of the European Union on the rational use of fuel and energy resources, the limitations of which increase due to inconsistencies between centralized and regional distribution. Therefore, further processes of effective economic development of Ukraine will largely depend on solving the problem of the sustainable provision of available renewable energy resources. Future development of the biofuels market in Ukraine will strongly depend on the institutional and legal conditions in the field of production, circulation and use of biofuels.