Voluntary Carbon Credit Market Introduction and Overview
According to SPER Market Research, the Global Voluntary Carbon Credit Market is estimated to reach USD 49.2 billion by 2033 with a CAGR of 27.49%.
The report includes an in-depth analysis of the Global Voluntary Carbon Credit Market, including market size and trends, product mix, Applications, and supplier analysis. Voluntary carbon credits, or "VCCs," are certificates that attest to the holder's direct or indirect removal of one metric tonne of carbon dioxide equivalent from the environment in compliance with all applicable laws and regulations. Typically, VCCs are formed outside of any regulatory or compliance framework and are selected by pertinent stakeholders as an efficient way to offset emissions and contribute to the achievement of net-zero emission targets.
- October 2023: Zimbabwe and Blue Carbon, a Dubai-based corporation, will collaborate on an environmentally beneficial carbon credit arrangement. The USD 1.5 billion memorandum of understanding (MoU) committed funding for substantial forest restoration and protection initiatives throughout Zimbabwe. It is evidence of the increasing awareness of carbon credits as an effective instrument for reducing the effects of climate change and promoting ecological and economic resilience.
- October 2023: First Abu Dhabi Bank, Masdar, and Blue Carbon entered into a strategic partnership in October 2023 to supply carbon credits; this will facilitate the trade of emissions permits in the United Arab Emirates. This calculated action is consistent with the UAE's recently reaffirmed aims for cutting carbon emissions by 10% in the current decade and with its broader goal of becoming climate neutral by 2050. The UAE is demonstrating its strong commitment to addressing climate change on a national and international level by enabling the market of emissions permits and actively taking part in carbon credit projects.
Market Opportunities and Challenges
The market for voluntary carbon credits is expected to expand during the forecast period. Growing demand for corporate sustainability initiatives supported by supportive government policies, along with an expanding carbon price mechanism, are the main drivers of business growth. Reforestation, afforestation, and sustainable land management initiatives are examples of the growing need for nature-based solutions that are becoming more and more popular in the market. Along with providing co-benefits including ecosystem restoration and biodiversity conservation, these projects sequester carbon.
Furthermore, the trade of carbon credits is becoming more transparent and traceable because of technological improvements, especially in the areas of blockchain and data analytics. Specifically, blockchain is being utilised to produce irreversible carbon credit records, lowering the possibility of fraud or duplicate counting and improving the business perspective.
However, the market faces a number of significant obstacles, one of which is the price volatility of carbon credits, which varies based on supply and demand. Because of this, it may be difficult for businesses to create long-term plans and to guarantee that the cost of carbon credits offers a strong enough financial incentive for reducing emissions.
Market Competitive Landscape
As part of their strategic objectives, leading companies in the industry are concentrating on a variety of strategic assets, such as an innovative system range, mergers and acquisitions, and strong research and development activities. The major players in the market include: 3Degrees, ALLCOT, Atmosfair, CarbonClear, Climate Impact Partners, ClimeCo LLC., EcoAct, Ecosecurities, Microsoft, PwC, Shell, South Pole, TerraPass, The Carbon Collective Company, The Carbon Trust, VERRA, Others. Other performance indicators, such as the quantity of certified projects, the volume of credits issued, the effect of projects on emissions reductions, and the adoption of superior standards like the Verified Carbon Standard (VCS) and the Gold Standard, are frequently the focus of stakeholders in the voluntary carbon credit market. Furthermore, depending on the projects they oversee and the amount of credits they transact, market participants—such as project developers and brokers—may have their own estimates of their market share.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By End User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | 3Degrees, ALLCOT, Atmosfair, CarbonClear, Climate Impact Partners, ClimeCo LLC., EcoAct, Ecosecurities, Microsoft, PwC, Shell, South Pole, TerraPass, The Carbon Collective Company, The Carbon Trust, VERRA, Others
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COVID-19 Impact on Global Voluntary Carbon Credit Market
The voluntary carbon credit sector faced difficulties as well as opportunities as a result of the COVID-19 epidemic. The production and verification of carbon credits were impacted by supply-side disruptions, but shifting business priorities and increased sustainability consciousness impacted demand-side dynamics. The way businesses and consumers negotiate the post-pandemic environment and whether sustainability stays a top priority in recovery efforts will determine the market's long-term effects.
Key Target Audience
- Agriculture
- Carbon Capture & Storage
- Chemical Process
- Forestry and Land Use
- Household and Community
- Industrial and Commercial
- Renewable Energy
- Transportation
- Waste Management
- Others
Our in-depth analysis of the Voluntary Carbon Credit Market includes the following segments:
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By End User:
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Agriculture
Carbon Capture & Storage
Chemical Process
Forestry and Land Use
Household and Community
Industrial and Commercial
Renewable Energy
Transportation
Waste Management
|
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By Region:
|
Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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Key Topics Covered in the Report
- Global Voluntary Carbon Credit Market Size (FY’2023-FY’2033)
- Overview of Global Voluntary Carbon Credit Market
- Segmentation of Global Voluntary Carbon Credit Market By End User (Agriculture, Carbon Capture & Storage, Chemical Process, Forestry and Land Use, Household and Community, Industrial and Commercial, Renewable Energy, Transportation, Waste Management)
- Statistical Snap of Global Voluntary Carbon Credit Market
- Expansion Analysis of Global Voluntary Carbon Credit Market
- Problems and Obstacles in Global Voluntary Carbon Credit Market
- Competitive Landscape in the Global Voluntary Carbon Credit Market
- Impact of COVID-19 and Demonetization on Global Voluntary Carbon Credit Market
- Details on Current Investment in Global Voluntary Carbon Credit Market
- Competitive Analysis of Global Voluntary Carbon Credit Market
- Prominent Players in the Global Voluntary Carbon Credit Market
- SWOT Analysis of Global Voluntary Carbon Credit Market
- Global Voluntary Carbon Credit Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Voluntary Carbon Credit Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Voluntary Carbon Credit Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Voluntary Carbon Credit Market
7. Global Voluntary Carbon Credit Market, By End User (USD Million)
7.1. Global Voluntary Carbon Credit Market Value Share and Forecast, By End User, 2023-2033
7.2. Agriculture
7.3. Carbon Capture & Storage
7.4. Chemical Process
7.5. Forestry and Land Use
7.6. Household and Community
7.7. Industrial and Commercial
7.8. Renewable Energy
7.9. Transportation
7.10. Waste Management
8. Global Voluntary Carbon Credit Market Forecast, 2019-2033 (USD Million)
8.1. Global Voluntary Carbon Credit Market Size and Market Share
9. Global Voluntary Carbon Credit Market, By End User, 2019-2033 (USD Million)
9.1. Global Voluntary Carbon Credit Market Size and Market Share By End User (2019-2026)
9.2. Global Voluntary Carbon Credit Market Size and Market Share By End User (2027-2033)
10. Global Voluntary Carbon Credit Market, By Region, 2019-2033 (USD Million)
10.1. Global Voluntary Carbon Credit Market Size and Market Share By Region (2019-2026)
10.2. Global Voluntary Carbon Credit Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Rest of Middle East & Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. 3Degrees
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. ALLCOT
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Atmosfair
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. CarbonClear
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Climate Impact Partners
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. ClimeCo LLC.
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. EcoAct
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Ecosecurities
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Microsoft
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. PwC
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Shell
11.11.1. Company details
11.11.2. Financial outlook
11.11.3. Product summary
11.11.4. Recent developments
11.12. South Pole
11.12.1. Company details
11.12.2. Financial outlook
11.12.3. Product summary
11.12.4. Recent developments
11.13. TerraPass
11.13.1. Company details
11.13.2. Financial outlook
11.13.3. Product summary
11.13.4. Recent developments
11.14. The Carbon Collective Company
11.14.1. Company details
11.14.2. Financial outlook
11.14.3. Product summary
11.14.4. Recent developments
11.15. The Carbon Trust
11.15.1. Company details
11.15.2. Financial outlook
11.15.3. Product summary
11.15.4. Recent developments
11.16. VERRA
11.16.1. Company details
11.16.2. Financial outlook
11.16.3. Product summary
11.16.4. Recent developments
11.17. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope