Carbon Credit Market for Agriculture, Forestry, and Land Use - A Global and Regional Analysis: Analysis and Forecast, 2023-2033
Carbon Credit Market for Agriculture, Forestry, and Land Use Overview The carbon credit market for agriculture, forestry, and land use was valued at $6,283.0 million in 2023, and it is expected ... もっと見る
SummaryCarbon Credit Market for Agriculture, Forestry, and Land Use OverviewThe carbon credit market for agriculture, forestry, and land use was valued at $6,283.0 million in 2023, and it is expected to grow at a CAGR of 31.49% and reach $97,100.4 million by 2033. The carbon credit market for agriculture, forestry, and land use is witnessing substantial growth driven by advancements in sustainable practices and technologies. Innovations in precision agriculture, forest management techniques, and sustainable land use strategies are key factors shaping this market. Collaborations between stakeholders such as farmers, forestry companies, and landowners, along with regulatory shifts, are driving the adoption of eco-friendly solutions and best practices. These collaborations emphasize the development of reliable and efficient technologies to optimize carbon sequestration, reduce emissions, and enhance ecosystem health. Introduction of Carbon Credit for Agriculture, Forestry, and Land Use Carbon credits within agriculture, forestry, and land use constitute tradable permits representing the reduction or avoidance of greenhouse gas emissions associated with activities such as reforestation, afforestation, soil carbon sequestration, and sustainable land management practices. These credits serve as a measurable unit for incentivizing carbon mitigation efforts, enabling stakeholders to offset their emissions by investing in projects that enhance carbon sequestration or reduce carbon emissions, thus promoting sustainable development while mitigating climate change impacts. Market Introduction The global carbon credit market for agriculture, forestry, and land use is a dynamic sector analyzed through distinct application and product segments. In terms of application, the market is categorized into avoidance projects, removal projects, and combination projects. On the product side, the market is segmented by project type, focusing on forestry and land use and agriculture. The product segment further classifies forestry and land use based on the project type, such as reducing emissions from deforestation (REDD+), afforestation, reforestation, and revegetation (ARR), and improved forest management (IFM). Forestry and land use projects involve activities related to forest conservation, reforestation, and sustainable land management practices. Agriculture projects include carbon sequestration methods in farming practices, such as no-till farming, cover cropping, and agroforestry. Market analysis of the global carbon credit market for agriculture, forestry, and land use employs a comprehensive research methodology. This approach combines primary interviews with industry experts and leaders with thorough secondary research to understand market dynamics. Factors influencing demand, technological advancements, regulatory landscapes, and competitive strategies are analyzed. Additionally, data analysis, market sizing, and forecasting techniques are used to provide insights and strategic recommendations for market players aiming to leverage opportunities in the market. Industrial Impact The emergence of the carbon credit market within agriculture, forestry, and land use sectors has significantly impacted industrial practices by incentivizing sustainable land management and carbon sequestration initiatives. Industries engaged in these sectors are increasingly recognizing the economic value of mitigating greenhouse gas emissions through activities such as reforestation, afforestation, and soil carbon sequestration, as these efforts not only contribute to environmental conservation but also generate revenue through the sale of carbon credits. The key players operating in the carbon credit market for agriculture, forestry, and land use are Indigo Ag, Inc., Carbon Credit Capital, LLC., Terra Global Capital, South Pole, Nori, Inc., The California Air Resources Board, Cargill, Incorporated, Regenerative Agriculture Alliance, Ecosystem Services Market Consortium, Bayer AG, 3Degrees Group, Inc, NATUREOFFICE, Climetrek, EKI Energy Services ltd., and Finite Carbon Corporation, among others. These companies are focusing on strategic partnerships, collaborations, and acquisitions to enhance their product offerings and expand their market presence. Market Segmentation: Segmentation 1: by Application • Removal Project • Avoidance Project • Combination Project Combination Project to Dominate Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application) The global carbon credit market for agriculture, forestry, and land use is shifting toward projects that combine both carbon removal and emissions reduction activities. These combination projects are becoming the leading segment, driven by increasing buyer interest and a premium for credits that offer durable carbon removals over simple emissions reductions. Buyers are showing a preference for credits that represent a combination of removal and avoidance activities. These projects, including activities such as improved forest management (IFM), REDD+, and sustainable agricultural land management, provide a dual benefit of reducing future emissions and removing carbon dioxide from the atmosphere. This dual benefit makes them highly attractive to buyers in the carbon credit market for agriculture, forestry, and land use. The market also favors projects that offer removals of carbon dioxide from the atmosphere, such as through nature-based solutions such as afforestation/reforestation/revegetation and agro-forestry, as well as industrial carbon removal and biochar production. These removal credits command a premium price, indicating strong demand for projects focused on carbon removal. The combination project segment, which represents projects that combine both removal and avoidance activities, is expected to drive growth in the global carbon credit market for agriculture, forestry, and land use. Businesses and organizations looking to invest in carbon credit projects should consider the value proposition offered by these combination projects, as they provide a comprehensive approach to carbon mitigation and offer a significant premium in the market. Segmentation 2: by Project Type • Forestry and Land Use o REDD+ o ARR o IFM • Agriculture Forestry and Land Use to be Dominant in Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type) The forestry and land use segment has become the leading segment in the global carbon credit market for agriculture, forestry, and land use. This segment plays a critical role in mitigating climate change, providing governments worldwide with a crucial tool to align climate ambitions with policy actions. Efforts are ongoing to enhance the credibility and transparency of this segment, including the development of quality standards and assessment frameworks. These initiatives are vital for building trust and ensuring high integrity across the carbon market. The increasing convergence between compliance and voluntary carbon markets is a significant trend. It is driven by jurisdictional regulations and tax incentives. Countries such as Singapore have set eligibility criteria for carbon credits used to offset carbon taxes, following similar initiatives in Colombia, Chile, and South Africa. This trend is expected to drive demand in the voluntary carbon market (VCM), especially with the European Union's Carbon Border Adjustment Mechanism (CBAM) set to take effect in 2026. The CBAM will increase carbon prices in non-EU markets, encouraging the use of carbon credits. As a result, the dominance of the forestry and land use segment reflects its crucial role in achieving global climate goals. As efforts continue to enhance and expand these projects, they are poised to remain a cornerstone of the carbon credit market for agriculture, forestry, and land use. Segmentation 3: by Region • North America: U.S., Canada, and Mexico • Europe • Asia-Pacific: China, Japan, India, South Korea, and Rest-of-Asia-Pacific • Rest-of-the-World: Brazil, South Africa, and Others The Asia-Pacific region emerges as a dominant force in the carbon credit market for agriculture, forestry, and land use, driven by several region-specific dynamics. Notably, the region boasts thriving agricultural and forestry sectors alongside significant technological advancements, propelling the market's growth trajectory. Countries such as China, Japan, South Korea, India, and the Rest-of-Asia-Pacific capitalize on their capabilities and supportive government policies to foster innovation and adoption of sustainable practices within these sectors. China, particularly, distinguishes itself for its leadership in implementing initiatives to enhance carbon sequestration and reduce emissions in agriculture, forestry, and land use. Moreover, the region's strong emphasis on research and development accelerates the deployment of efficient technologies, bolstering carbon mitigation efforts. Government incentives, subsidies, and regulations further stimulate the widespread adoption of sustainable practices, solidifying the Asia-Pacific region's prominence in the global carbon credit market for agriculture, forestry, and land use. Recent Developments in the Carbon Credit Market for Agriculture, Forestry, and Land Use • In February, Indigo Ag, Inc. announced the successful conclusion of its third carbon crop. With 163,048 carbon credits generated, Indigo stands as the sole company to achieve three large-scale carbon harvests. The farmers engaged in Indigo Ag's carbon initiative have effectively sequestered or prevented the release of nearly 300,000 metric tons of carbon dioxide. • In December 2023, Nori, Inc. unveiled the Nori Net Zero Tonne, a pioneering hybrid carbon removal credit designed to revolutionize the market. This innovative offering combined Nori Regenerative Tons with permanent carbon removal from Frontier, addressing a crucial need for credible solutions to offset present-day emissions effectively. • In January 2023, Terra Global Capital secured an investment of $640 million from Anew Climate, a leading climate solutions company. This investment is set to accelerate Terra Global's efforts to develop and finance nature-based climate solutions, aiming for positive social and environmental impacts. • In March 2022, Ecosystem Services Market Consortium (ESMC) and Benson Hill, Inc. announced the successful completion of the first year of a carbon credit pilot program. Collaborating with soy and corn farmers in the Midwest in 2021, ESMC facilitated the generation of carbon credits by farmers through practices that reduced greenhouse gas emissions and boosted soil carbon levels. • In May 2021, Tesla generated $518 million in revenue from the sale of carbon credits, contributing to the company's ability to achieve profitability for another consecutive quarter. Demand - Drivers, Limitations, and Opportunities Market Demand Driver: Corporate Commitments to Achieving Net-Zero Emissions and Sustainability Goals There has been a significant surge in corporate commitments to achieving net-zero emissions and sustainability goals, reflecting a growing recognition among businesses of their role in addressing climate change and contributing to environmental sustainability. An increasing alliance of nations, businesses, and other entities are committing to achieving net-zero emissions. Over 140 countries, including China, the U.S., India, and the European Union, have established net-zero targets, accounting for approximately 88% of global emissions. Additionally, more than 9,000 companies, over 1,000 cities, more than 1,000 educational institutions, and over 600 financial institutions have joined the race to zero initiative, vowing to implement decisive and prompt measures to cut global emissions in half by the year 2030. In November 2022, PwC India committed to taking decisive action toward environmental sustainability and achieving net zero greenhouse gas (GHG) emissions while setting science-based targets. Initiatives are currently in progress to reduce carbon emissions from operational processes and decouple business expansion from emissions. Additionally, Ford Motor Company has pledged to achieve carbon neutrality globally by 2050, as outlined in its 21st annual Sustainability Report. The commitment aligns with the Paris Climate Agreement and involves collaborating with Uber in June 2023 in California to strengthen vehicle greenhouse gas standards. Ford intends to focus on three key areas responsible for approximately 95% of its CO2 emissions, namely, vehicle usage, supply chain, and company facilities. This heightened interest in carbon offsetting initiatives leads to the development of more robust and sustainable market for carbon credits, providing opportunities for investments in projects related to agriculture, forestry, and land use that contribute to carbon sequestration and emission reduction. Market Challenge: Risk of Greenwashing Carbon offset programs present a significant issue when relied upon without accompanying emissions reduction efforts, hindering progress toward net-zero targets. Criticisms from international non-governmental organizations such as Friends of the Earth, Greenpeace, and World Wildlife Fund-U.K. highlight concerns about these programs fostering a culture of climate pollution. Carbon offsetting can also become a form of greenwashing when companies prioritize it over in-house emissions reduction efforts, leading to only partial offsetting and temporary solutions. Double-counting carbon credits and investing in projects with no real additional emissions reductions also contribute to greenwashing practices, deceiving the public about companies' true commitment to reducing carbon emissions. To address the challenges associated with carbon offset programs, various steps have been taken to improve transparency, accountability, and effectiveness. Governments and regulatory bodies have implemented stricter standards and verification processes to ensure that offset projects meet rigorous criteria and deliver real emissions reductions. Market Opportunity: Increase in Adoption of Agroforestry and Sustainable Farming Practices The agricultural sector plays a pivotal role in carbon trading due to its dual capacity to emit and sequester carbon. Activities such as tilling, fertilizer application, and livestock farming emit greenhouse gases, while practices such as agroforestry, conservation tillage, and soil carbon sequestration remove carbon from the atmosphere, storing it in the soil. Carbon trading in agriculture presents a pathway to incentivize farmers toward eco-friendly practices, mitigating climate change effects. By engaging in carbon offset projects, farmers can generate additional income by selling carbon credits. Embracing carbon abatement techniques aids in soil carbon sequestration, contributing to greenhouse gas reduction and climate change mitigation. This framework not only financially motivates farmers but also fosters the adoption of sustainable land-use practices, conserving natural resources and minimizing environmental impacts. Within the carbon credit market for agriculture, forestry, and land use, individual farmers may encounter challenges navigating the complexities of selling carbon credits. Yet, through the coordination of collectives such as Farmer Producer Organizations (FPOs) and cooperatives, participation in carbon trading becomes more accessible. These entities play a crucial role in mobilizing farmers, promoting the adoption of carbon abatement practices, and efficiently managing the sale of accumulated carbon credits. How can this report add value to an organization? Product/Innovation Strategy: The product segment helps the reader understand the different applications of carbon credit for agriculture, forestry, and land on the basis of application (removal project, avoidance project, and combination project), project type (forestry and land use and agriculture), The market is poised for significant expansion with ongoing advancements, increased investments, and growing awareness of the importance of carbon credits. Therefore, the carbon credit for agriculture, forestry, and land use businesses is a high-investment and high-revenue generating model. Growth/Marketing Strategy: The carbon credit market for agriculture, forestry, and land use has been growing at a rapid pace. The market offers enormous opportunities for existing and emerging market players. Some of the strategies covered in this segment are mergers and acquisitions, product launches, partnerships and collaborations, business expansions, and investments. The strategies preferred by companies to maintain and strengthen their market position primarily include product development. Competitive Strategy: The key players in the carbon credit market for agriculture, forestry, and land use analyzed and profiled in the study include project developers and buyers. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market. Research Methodology Factors for Data Prediction and Modeling • The scope of the carbon credit market for agriculture, forestry, and land use report has been focused on carbon credits for agriculture, forestry, and land use. • The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year. • The currency conversion rate has been taken from the historical exchange rate of the Oanda website. • Nearly all the recent developments from January 2020 to March 2024 have been considered in this research study. • The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis. • Where relevant information was not available, proxy indicators and extrapolation were employed. • Any economic downturn in the future has not been taken into consideration for the market estimation and forecast. • Technologies currently used are expected to persist through the forecast with no major technological breakthroughs. Market Estimation and Forecast This research study involves the usage of extensive secondary sources, such as certified publications, articles from recognized authors, white papers, annual reports of companies, directories, and major databases to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the carbon credit market for agriculture, forestry, and land use. The process of market engineering involves the calculation of the market statistics, market size estimation, market forecast, market crackdown, and data triangulation (the methodology for such quantitative data processes is explained in further sections). The primary research study has been undertaken to gather information and validate the market numbers for segmentation types and industry trends of the key players in the market. Primary Research The primary sources involve industry experts from the carbon credit market for agriculture, forestry, and land use and various stakeholders in the ecosystem. Respondents such as CEOs, vice presidents, marketing directors, and technology and innovation directors have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study. The key data points taken from primary sources include: • validation and triangulation of all the numbers and graphs • validation of reports segmentation and key qualitative findings • understanding the competitive landscape • validation of the numbers of various markets for market type • percentage split of individual markets for geographical analysis Secondary Research This research study of the carbon credit market for agriculture, forestry, and land use involves extensive secondary research, directories, company websites, and annual reports. It also makes use of databases, such as Hoovers, Bloomberg, Businessweek, and Factiva, to collect useful and effective information for an extensive, technical, market-oriented, and commercial study of the global market. In addition to the aforementioned data sources, the study has been undertaken with the help of other data sources and websites, such as IRENA and IEA. Secondary research was done in order to obtain crucial information about the industry’s value chain, revenue models, the market’s monetary chain, the total pool of key players, and the current and potential use cases and applications. The key data points taken from secondary research include: • segmentations and percentage shares • data for market value • key industry trends of the top players of the market • qualitative insights into various aspects of the market, key trends, and emerging areas of innovation • quantitative data for mathematical and statistical calculations Key Market Players and Competition Synopsis The companies that are profiled in the carbon credit market for agriculture, forestry, and land use have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the prominent companies in this market are: • Indigo Ag, Inc. • Carbon Credit Capital, LLC. • Terra Global Capital • South Pole • Nori, Inc. • The California Air Resources Board • Cargill, Incorporated • Regenerative Agriculture Alliance • Ecosystem Services Market Consortium • Bayer AG • 3Degrees Group, Inc • NATUREOFFICE • Climetrek • EKI Energy Services Ltd. • Finite Carbon Corporation Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable). Table of ContentsExecutive SummaryScope and Definition 1 Markets 1.1 Trends: Current and Future Impact Assessment 1.1.1 Trends: Overview 1.1.2 Utilization of Regulations to Enhance the Quality Standards For Carbon Offsets 1.1.3 Diminished Presence of Indications of Greenwashing 1.2 Supply Chain Overview 1.2.1 Pricing Forecast 1.3 Research and Development Review 1.3.1 Patent Filing Trend (by Country and Company) 1.4 Regulatory Landscape 1.5 Stakeholder Analysis 1.6 Market Dynamics Overview 1.6.1 Market Drivers 1.6.1.1 Corporate Commitments to Achieving Net-Zero Emissions and Sustainability Goals 1.6.1.2 Rise in Retail Carbon Credit Market 1.6.1.3 Regulatory Oversight and Integration with Compliance Markets 1.6.2 Market Restraints 1.6.2.1 Informational Asymmetries between Project Developers, Standard Organizations, Certifiers, and Buyers 1.6.2.2 Risk of Greenwashing 1.6.3 Market Opportunities 1.6.3.1 Increase in Adoption of Agroforestry and Sustainable Farming Practices 1.6.3.2 Increase in Carbon Finance and Investment 1.7 Startup Funding Summary 2 Application 2.1 Application Segmentation 2.2 Application Summary 2.3 Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application) 2.3.1 Removal Project 2.3.2 Avoidance Project 2.3.3 Combination Project 3 Products 3.1 Product Segmentation 3.2 Product Summary 3.3 Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type) 3.3.1 Forestry and Land Use 3.3.1.1 REDD+ 3.3.1.2 ARR 3.3.1.3 IFM 3.3.2 Agriculture 4 Region 4.1 Regional Summary 4.2 Drivers and Restraints 4.3 North America 4.3.1 Market 4.3.2 Key Market Participants in North America 4.3.3 Business Drivers 4.3.4 Business Challenges 4.3.5 Application 4.3.6 Product 4.3.7 North America (by Country) 4.3.7.1 U.S. 4.3.7.2 Canada 4.3.7.3 Mexico 4.4 Europe 4.4.1 Market 4.4.2 Key Market Participants in Europe 4.4.3 Business Drivers 4.4.4 Business Challenges 4.4.5 Application 4.4.6 Product 4.5 Asia-Pacific 4.5.1 Market 4.5.2 Key Market Participants in Asia-Pacific 4.5.3 Business Drivers 4.5.4 Business Challenges 4.5.5 Application 4.5.6 Product 4.5.7 Asia-Pacific (by Country) 4.5.7.1 China 4.5.7.2 Japan 4.5.7.3 India 4.5.7.4 South Korea 4.5.7.5 Rest-of-Asia-Pacific 4.6 Rest-of-the-World 4.6.1 Market 4.6.2 Key Market Participants in Rest-of-the-World 4.6.3 Business Drivers 4.6.4 Business Challenges 4.6.5 Application 4.6.6 Product 4.6.7 Rest-of-the-World (by Region) 4.6.7.1 Brazil 4.6.7.2 South Africa 4.6.7.3 Others 5 Markets - Competitive Benchmarking & Company Profiles 5.1 Next Frontiers 5.2 Geographic Assessment 5.2.1 Indigo Ag, Inc. 5.2.1.1 Overview 5.2.1.2 Project Portfolio 5.2.1.3 Top Competitors 5.2.1.4 Target Customers/End Users 5.2.1.5 Key Personnel 5.2.1.6 Analyst View 5.2.2 Carbon Credit Capital, LLC. 5.2.2.1 Overview 5.2.2.2 Project Portfolio 5.2.2.3 Top Competitors 5.2.2.4 Target Customers/End Users 5.2.2.5 Key Personnel 5.2.2.6 Analyst View 5.2.3 Terra Global Capital 5.2.3.1 Overview 5.2.3.2 Project Portfolio 5.2.3.3 Top Competitors 5.2.3.4 Key Clients/Partners 5.2.3.5 Key Personnel 5.2.3.6 Analyst View 5.2.4 South Pole 5.2.4.1 Overview 5.2.4.2 Project Portfolio 5.2.4.3 Top Competitors 5.2.4.4 Key Clients/Partners 5.2.4.5 Key Personnel 5.2.4.6 Analyst View 5.2.5 Nori, Inc. 5.2.5.1 Overview 5.2.5.2 Project Portfolio 5.2.5.3 Top Competitors 5.2.5.4 Target Customers/End Users 5.2.5.5 Key Personnel 5.2.5.6 Analyst View 5.2.6 The California Air Resources Board 5.2.6.1 Overview 5.2.6.2 Project Portfolio 5.2.6.3 Top Competitors 5.2.6.4 Target Customers/End Users 5.2.6.5 Key Personnel 5.2.6.6 Analyst View 5.2.7 Cargill, Incorporated 5.2.7.1 Overview 5.2.7.2 Project Portfolio 5.2.7.3 Top Competitors 5.2.7.4 Target Customers/End Users 5.2.7.5 Key Personnel 5.2.7.6 Analyst View 5.2.8 Regenerative Agriculture Alliance 5.2.8.1 Overview 5.2.8.2 Project Portfolio 5.2.8.3 Top Competitors 5.2.8.4 Target Customers/End Users 5.2.8.5 Key Personnel 5.2.8.6 Analyst View 5.2.9 Ecosystem Services Market Consortium 5.2.9.1 Overview 5.2.9.2 Project Portfolio 5.2.9.3 Top Competitors 5.2.9.4 Target Customers/End Users 5.2.9.5 Key Personnel 5.2.9.6 Analyst View 5.2.10 Bayer AG 5.2.10.1 Overview 5.2.10.2 Project Portfolio 5.2.10.3 Top Competitors 5.2.10.4 Target Customers/End Users 5.2.10.5 Key Personnel 5.2.10.6 Analyst View 5.2.11 3Degrees Group, Inc 5.2.11.1 Overview 5.2.11.2 Project Portfolio 5.2.11.3 Top Competitors 5.2.11.4 Key Clients/Partners 5.2.11.5 Key Personnel 5.2.11.6 Analyst View 5.2.12 NATUREOFFICE 5.2.12.1 Overview 5.2.12.2 Project Portfolio 5.2.12.3 Top Competitors 5.2.12.4 Key Clients/Partners 5.2.12.5 Key Personnel 5.2.12.6 Analyst View 5.2.13 Climetrek 5.2.13.1 Overview 5.2.13.2 Project Portfolio 5.2.13.3 Top Competitors 5.2.13.4 Target Customers/End Users 5.2.13.5 Key Personnel 5.2.13.6 Analyst View 5.2.14 EKI Energy Services Ltd. 5.2.14.1 Overview 5.2.14.2 Project Portfolio 5.2.14.3 Top Competitors 5.2.14.4 Key Clients/Partners 5.2.14.5 Key Personnel 5.2.14.6 Analyst View 5.2.15 Finite Carbon Corporation 5.2.15.1 Overview 5.2.15.2 Project Portfolio 5.2.15.3 Top Competitors 5.2.15.4 Target Customers/End Users 5.2.15.5 Key Personnel 5.2.15.6 Analyst View 6 Research Methodology 6.1 Data Sources 6.1.1 Primary Data Sources 6.1.2 Secondary Data Sources 6.1.3 Data Triangulation 6.2 Market Estimation and Forecast List of Figures Figure 1: Carbon Credit Marker for Agriculture, Forestry, and Land Use (by Region), $Million, 2024, 2026, and 2033 Figure 2: Pricing Analysis for Carbon Credit Market for Agriculture, Forestry, and Land Use (by Global and Region), $/Credit, 2024, 2026, and 2033 Figure 3: Carbon Credit Marker for Agriculture, Forestry, and Land Use (by Application), $Million, 2024, 2026, and 2033 Figure 4: Carbon Credit Marker for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2024, 2026, and 2033 Figure 5: Key Events Figure 6: Carbon Offset Measure of CO2 Equivalent (by Country), Tons, 2023 Figure 7: Supply Chain and Risks within the Supply Chain Figure 8: Average Pricing Scenario, 2022-2033 Figure 9: Patent Analysis (by Country), January 2020-March 2024 Figure 10: Patent Analysis (by Company), January 2020-March 2024 Figure 11: Impact Analysis of Market Navigating Factors, 2023-2033 Figure 12: Number of Companies with SBTi Commitments, 2020-2023 Figure 13: U.S. Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 14: Canada Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 15: Mexico Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 16: China Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 17: Japan Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 18: India Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 19: South Korea Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 20: Rest-of-Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 21: Brazil Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 22: South Africa Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 23: Others Carbon Credit Market for Agriculture, Forestry, and Land Use, $Million, 2022-2033 Figure 24: Strategic Initiatives, 2020-2023 Figure 25: Share of Strategic Initiatives, January 2021-April 2024 Figure 26: Data Triangulation Figure 27: Top-Down and Bottom-Up Approach Figure 28: Assumptions and Limitations List of Tables Table 1: Market Snapshot Table 2: Opportunities across Regions Table 3: Trends Overview Table 4: Startup and Investment Landscape Table 5: Carbon Credit Market for Agriculture, Forestry, and Land Use (by Region), $Million, 2022-2033 Table 6: North America Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 7: North America Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 8: North America Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 9: U.S. Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 10: U.S. Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 11: U.S. Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 12: Canada Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 13: Canada Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 14: Canada Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 15: Mexico Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 16: Mexico Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 17: Mexico Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 18: Europe Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 19: Europe Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 20: Europe Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 21: Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 22: Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 23: Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 24: China Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 25: China Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 26: China Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 27: Japan Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 28: Japan Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 29: Japan Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 30: India Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 31: India Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 32: India Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 33: South Korea Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 34: South Korea Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 35: South Korea Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 36: Rest-of-Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 37: Rest-of-Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 38: Rest-of-Asia-Pacific Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 39: Rest-of-the-World Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 40: Rest-of-the-World Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 41: Rest-of-the-World Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 42: Brazil Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 43: Brazil Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 44: Brazil Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 45: South Africa Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 46: South Africa Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 47: South Africa Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Table 48: Others Carbon Credit Market for Agriculture, Forestry, and Land Use (by Application), $Million, 2022-2033 Table 49: Others Carbon Credit Market for Agriculture, Forestry, and Land Use (by Project Type), $Million, 2022-2033 Table 50: Others Carbon Credit Market for Agriculture, Forestry, and Land Use (by Forestry and Land Use), $Million, 2022-2033 Press Release
The global carbon credit market for agriculture, forestry, and land use is estimated to reach $97.10 billion by 2033, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 31.49% during the forecast period 2023-2033.
Thel carbon credit market for agriculture, forestry, and land use is set for significant expansion in the forecast period from 2023 to 2033. This growth marks a pivotal moment in the adoption of carbon credits as a sustainable solution for mitigating carbon emissions in these sectors. Several factors are expected to drive this market evolution, including advancements in carbon credit project development, increased awareness of their benefits among stakeholders, and a growing emphasis on sustainable land use practices. USPs of this report • A dedicated section focusing on the trends adopted by the key players operating in the carbon credit market for agriculture, forestry, and land use • Competitive landscape of the companies operating in the ecosystem offering a holistic view of the carbon credit market for agriculture, forestry, and land use • Qualitative and quantitative analysis of the carbon credit market for agriculture, forestry, and land use at the region and country level and granularity by application and product segments • Supply chain and value chain analysis Analyst Perspective According to Debraj Chakraborty, Principal Analyst, BIS Research, “The carbon credit market for agriculture, forestry, and land use is likely to grow multi-fold in the coming years, owing to the rapidly growing demand for reducing carbon emissions. Moreover, huge investments and infrastructure development by government and federal agencies to promote sustainability and cut down carbon dioxide emissions are expected to further fuel the growth of carbon credits. The market is expected to witness significant growth in the coming years, and the key players in the market are focused on strategic partnerships, collaborations, mergers, and acquisitions to expand their market presence and enhance their product offerings.” Key Companies Profiled The key players in the carbon credit market for agriculture, forestry, and land use analyzed and profiled in the study include project developers and buyers. Additionally, a comprehensive competitive landscape such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market. The key players profiled in the report include Indigo Ag, Inc., Carbon Credit Capital, LLC., Terra Global Capital, South Pole, Nori, Inc., The California Air Resources Board, Cargill, Incorporated, Regenerative Agriculture Alliance, Ecosystem Services Market Consortium, Bayer AG, 3Degrees Group, Inc, NATUREOFFICE, Climetrek, EKI Energy Services Ltd., and Finite Carbon Corporation Key Questions Answered in the Report • What are the main factors driving the growth of the carbon credit market for agriculture, forestry, and land use? • How does the supply chain function in the carbon credit market for agriculture, forestry, and land use? • Which application and product segments are expected to lead the market over the forecast period (2023-2033)? • Which category of projects cater to the growth of the carbon credit market for agriculture, forestry, and land use? • What is the competitive landscape in the carbon credit market for agriculture, forestry, and land use? • Which regions and countries are leading in terms of demand for carbon credit for agriculture, forestry, and land use, and which of them are expected to witness high growth during 2023-2033? • What is the futuristic outlook for the carbon credit market for agriculture, forestry, and land use in terms of growth potential?
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