Product Code: GVR-4-68040-322-0
Voluntary Carbon Credit Market Growth & Trends:
The global voluntary carbon credit market size is anticipated to reach USD 24.00 billion by 2030 and is anticipated to expand at a CAGR of 34.6% during the forecast period, according to a new report by Grand View Research, Inc. The voluntary carbon credit market (VCM) refers to the trading of carbon credits on a voluntary basis outside of any legal or regulatory requirements. In this market, companies, individuals, and other entities purchase carbon credits to offset their greenhouse gas emissions and meet self-imposed sustainability goals.
The VCM is facilitated by a variety of independent certification programs, such as the Verified Carbon Standard, Gold Standard, and Climate Action Reserve, which establish accounting rules, project eligibility criteria, and verification procedures for carbon credit projects. These projects span a range of activities, including renewable energy, forestry, and carbon capture and storage. However, the VCM has faced criticism over the quality and integrity of some carbon credits, leading to calls for greater standardization and transparency.
Governments are increasingly engaging with the VCM, using it to help meet their national climate goals under the Paris Agreement. For instance, Japan's GX League requires companies to offset any emissions they fail to reduce directly, using the VCM as a complementary mechanism. Policymakers see the VCM as a way to mobilize private capital for climate action, particularly in developing countries where the potential for cost-effective emissions reductions is high. At the same time, there are concerns that the VCM could undermine efforts to achieve deep, economy-wide decarbonization if not properly regulated and integrated with broader climate policy. The voluntary carbon credit market represents a growing and evolving landscape, with the potential to play a significant role in the global transition to a low-carbon economy
Voluntary Carbon Credit Market Report Highlights:
- Based on project, renewable energy dominated the market and accounted for a revenue share of 39.08% in 2023. Wind and solar farms generate credits by reducing emissions compared to traditional sources. This creates financial incentives for clean energy development, as companies can earn revenue while tackling climate change
- Industrial dominated the component segment with more than 32.5% share in 2023. Industries like manufacturing and heavy production are driving growth in the market. These high-emitting sectors purchase credits from renewable projects to offset their footprint, fueling clean energy development while meeting sustainability goals
- Private Companies dominated the end use segment. Private companies are a growing force in the voluntary carbon credit market. They purchase credits generated by emissions-reducing projects, like renewable energy, to offset their own footprint. This trend benefits both sides: companies achieve sustainability goals, and green projects gain vital funding
- Asia Pacific is expected to witness significant growth in the market owing to factors such as supportive policies and growing environmental concerns
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Projects & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Voluntary Carbon Credit Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospects Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Technology Framework
- 3.5. Regulatory Framework
- 3.5.1. Standards & Compliances
- 3.5.2. Regulatory Impact Analysis
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.6.3. Market Challenges Analysis
- 3.6.4. Market Opportunity Analysis
- 3.7. Business Environment Analysis
- 3.7.1. Industry analysis - porter's five forces analysis
- 3.7.2. Industry analysis - Pestle analysis
- 3.8. Emerging trends & technologies in the Voluntary Carbon Credit Market
Chapter 4. Voluntary Carbon Credit Market: Project Estimates & Trend Analysis
- 4.1. Definition & scope
- 4.2. Project movement analysis & market share, 2023 & 2030
- 4.3. Renewable Energy
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 4.4. Energy Efficiency
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 4.5. Afforestation and Reforestation
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 4.6. Methane Capture and Destruction
- 4.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 4.7. Others (soil carbon sequestration, energy efficiency)
- 4.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
Chapter 5. Voluntary Carbon Credit Market: Application Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Application Movement Analysis & Market Share, 2023 & 2030
- 5.3. Industrial
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 5.4. Household Devices
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 5.5. Energy
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 5.6. Agriculture
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 5.7. Others
- 5.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
Chapter 6. Voluntary Carbon Credit Market: End Use Estimates & Trend Analysis
- 6.1. Definition & Scope
- 6.2. End Use Method Movement Analysis & Market Share, 2023 & 2030
- 6.3. Government Agencies
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 6.4. Non-Governmental Organizations (NGOs)
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 6.5. Private Companies
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 6.6. Individuals
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
Chapter 7. Voluntary Carbon Credit Market: Regional Estimates & Trend Analysis
- 7.1. Key Takeaways
- 7.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 7.3. North America
- 7.3.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.5. U.S.
- 7.3.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.5.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.5.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.6. Canada
- 7.3.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.6.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.6.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.7. Mexico
- 7.3.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.7.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.3.7.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4. Europe
- 7.4.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.5. Germany
- 7.4.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.5.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.5.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.6. UK
- 7.4.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.6.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.6.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.7. Italy
- 7.4.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.7.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.7.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.8. Spain
- 7.4.8.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.8.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.8.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.8.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.9. France
- 7.4.9.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.9.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.9.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.9.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.10. Netherlands
- 7.4.10.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.10.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.10.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.4.10.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5. Asia Pacific
- 7.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.5. China
- 7.5.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.5.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.5.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.6. India
- 7.5.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.6.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.6.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.7. Japan
- 7.5.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.7.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.7.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.8. South Korea
- 7.5.8.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.8.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.8.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.8.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.9. Australia
- 7.5.9.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.9.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.9.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.9.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.10. Indonesia
- 7.5.10.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.10.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.10.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.10.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.11. Malaysia
- 7.5.11.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.11.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.11.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.5.11.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.6. Central & South America
- 7.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.5. Brazil
- 7.6.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.5.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.5.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.6. Argentina
- 7.6.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.6.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.6.6.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.7. Middle East & Africa
- 7.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.5. UAE
- 7.7.5.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.5.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.5.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.5.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.6. Saudi Arabia
- 7.7.6.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.6.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.6.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.6.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.7. South Africa
- 7.7.7.1. Market estimates and forecasts, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.7.2. Market estimates and forecasts, by Project, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.7.3. Market estimates and forecasts, by Application, 2018 - 2030 (Million Tons) (USD Million)
- 7.7.7.4. Market estimates and forecasts, by End Use, 2018 - 2030 (Million Tons) (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Key Players & Recent Developments & Their Impact on the Industry
- 8.2. Key Company/Competition Categorization (Key innovators, Market leaders, emerging players)
- 8.3. List of key Component Suppliers and Channel Partners
- 8.4. Company Market Share & Position Analysis, 2023
- 8.5. Company Heat Map Analysis
- 8.6. Competitive Dashboard Analysis
- 8.7. Strategy Mapping
- 8.7.1. Expansion
- 8.7.2. Collaboration/ Partnerships/ Agreements
- 8.7.3. New Application launches
- 8.7.4. Mergers & Acquisitions
- 8.7.5. Research & Development
- 8.7.6. Others
- 8.8. List of Potential Customers, by Application
Chapter 9. Company Listing / Profiles
- 9.1. Ecosecurities
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Application Benchmarking
- 9.2. BioCarbon Partners
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Application Benchmarking
- 9.3. Combio Energia
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Application Benchmarking
- 9.4. BURN Manufacturing
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Application Benchmarking
- 9.5. Biofilica Ambipar
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Application Benchmarking
- 9.6. Indus Delta Capital Limited
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Application Benchmarking
- 9.7. Terrasos
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Application Benchmarking
- 9.8. EKI Energy Services Ltd. (formerly EnKing International)
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Application Benchmarking
- 9.9. 3Degrees
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Application Benchmarking
- 9.10. Climate Impact Partners
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Application Benchmarking
- 9.11. EcoAct
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Application Benchmarking
- 9.12. AB Verra
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Application Benchmarking
- 9.13. Puro.earth
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Application Benchmarking
Chapter 10. Strategic Recommendations/ Analyst Perspective