Carbon Credit For Agriculture, Forestry, And Land Use Global Market Report 2024
The Business Research Company recently released a comprehensive report on the Global Carbon Credit For Agriculture, Forestry, And Land Use Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.
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According to The Business Research Company’s, The carbon credit for agriculture, forestry, and land use market size has grown exponentially in recent years. It will grow from $4.52 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to expansion of carbon offset projects, increase efforts to educate stakeholders, impact of Climate Policies, expansion of renewable energy projects, and Increasing consumer preference for environmentally friendly products.
The carbon credit for agriculture, forestry, and land use market size is expected to see exponential growth in the next few years. It will grow to $16.14 billion in 2028 at a compound annual growth rate (CAGR) of 29%. The growth in the forecast period can be attributed to improvements in reporting standards, urgency to address climate change, promote biodiversity conservation, ongoing efforts to standardize carbon credit, and investments in climate-resilient agricultural and forestry practices. Major trends in the forecast period include satellite imaging, machine learning, blockchain technology, robust monitoring techniques, and advancements in soil carbon sequestration.
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Market Drivers and Trends:
The growing demand for reducing carbon emissions is expected to propel the growth of the carbon credit for agriculture, forestry, and land use market going forward. Carbon emissions refer to releasing carbon dioxide (CO2) and other greenhouse gases into the atmosphere. The demand for reducing carbon emissions is spurring innovation and research in areas such as renewable energy, battery storage, carbon capture and storage (CCS), and sustainable agriculture to achieve sustainable and long-lasting impacts. Carbon credits reduce emissions by incentivizing activities that remove carbon dioxide or prevent emissions, balancing the carbon footprint in agriculture, forestry, and land use. For instance, according to Microsoft’s 2022 Environmental Sustainability Report, a US-based software development company, in 2022, the company acquired 1.44 million metric tons of carbon credits and retired 514,156 metric tons in line with their annual carbon neutrality commitment. Therefore, the growing demand for reducing carbon emissions is driving the growth of the carbon credit for agriculture, forestry, and land use.
Major companies operating in the carbon credit for agriculture forestry and land use market are focusing on developing innovative technological solutions, such as the multi-activity carbon credit SaaS platform, to help the world meet its decarbonization targets. A multi-activity carbon credit SaaS platform is a software solution that generates high-quality carbon offsets from multiple mitigation activities by leveraging a variety of data sources and technologies. For instance, in September 2023, CERO Technologies, an India-based software company, launched a carbon credit generation SaaS platform. The technology is identified as the digital measurement, reporting, and verification (dMRV) platform, which tackles the market’s present supply restrictions, inefficiencies, and credibility difficulties. The platform speeds up carbon credit calculation and verification by interacting with high-quality data and producing high-quality carbon credits in real-time.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Cargill Incorporated, Bayer AG, WGL Holdings Inc., Conservation International, Indigo AG Inc., Green Mountain Energy, The Carbon Trust, 3Degrees Group Inc., Terra Global Capital LLC, EcoAct, Verra, American Carbon Registry, Carbon Credit Capital LLC, Land Life Company, Allcot Group, Enking International, natureOffice GmbH, South Pole, Ecosystem Services Market Consortium, Sterling Planet Inc., Finite Carbon Corporation, GreenTrees LLC, Gold Standard, Nori Inc.
Carbon Credit For Agriculture, Forestry, And Land Use Market 2024 Key Insights:
• The carbon credit for agriculture, forestry, and land use market size is expected to see exponential growth in the next few years. It will grow to $16.14 billion in 2028 at a compound annual growth rate (CAGR) of 29%.
• Impact of Carbon Credits on Agriculture, Forestry, and Land Use Market
• Advancing The Carbon Credit Market Through Multi-Activity SaaS Platforms
• Asia-Pacific was the largest region in the carbon credit for agriculture, forestry, and land use market in 2023
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