Carbon Credit market grows with climate awareness, stricter regulations, and corporate net-zero goals, boosting voluntary and compliance markets from 2026 to 2030.

According to TechSci Research, the Global Carbon Credit Market stood at USD 6.34 billion in 2023 and is projected to reach USD 15.33 billion by 2030, growing at a CAGR of 16.02% during the forecast period. The rising global awareness of climate change is a key driver of the market. With increasing recognition of its far-reaching impacts, governments, businesses, and the public are actively seeking ways to reduce greenhouse gas emissions. Carbon credits serve as a crucial mechanism to offset emissions and mitigate climate-related risks.

Public pressure on companies to adopt sustainable practices has led to higher participation in voluntary carbon markets. As consumers become more environmentally conscious, businesses are investing in carbon offsets to reduce their carbon footprint and strengthen their brand image. This shift is reshaping competitive dynamics in industries where sustainability is a growing priority.

Global climate movements, such as Fridays for Future and Extinction Rebellion, have further amplified climate action efforts. These movements have mobilized millions worldwide, influencing both policy decisions and corporate sustainability strategies. In response, governments are enforcing stricter regulations, while companies integrate carbon offsetting into their Environmental, Social, and Governance (ESG) initiatives.

Extensive media coverage of extreme weather events, including wildfires, floods, and hurricanes, has heightened public urgency for climate action. As people witness the direct consequences of climate change, the demand for scalable solutions like carbon credits continues to grow.

The alignment of corporate and public interests in addressing climate change is expected to sustain market growth. As businesses and individuals strive to minimize their environmental impact, carbon credits are becoming an essential tool for achieving emission reduction goals. Regulatory frameworks and voluntary initiatives will continue to support the expansion of the Global Carbon Credit Market in the years ahead.

Market Segmentation

The Global Carbon Credit Market is segmented by application, project type, regional distribution, and company.

Agriculture is anticipated to experience significant growth in the carbon credit market during the forecast period. The sector is adopting climate-smart practices, such as no-till farming, cover cropping, and improved livestock management, which help sequester carbon and reduce emissions. These techniques not only enhance soil health and productivity but also contribute to methane and nitrous oxide reduction—two of the most potent greenhouse gases.

Government incentives and private sector investments are also driving the expansion of agricultural carbon credits. Policymakers are integrating agriculture into climate strategies, while businesses are looking to offset emissions through sustainable farming initiatives. Additionally, advancements in precision agriculture and satellite monitoring are improving the accuracy of carbon sequestration measurements, making agricultural projects more attractive to carbon credit buyers.

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Regional Insights

North America emerged as the second-largest region in the Global Carbon Credit Market in 2023. This growth is fueled by strong regulatory frameworks, corporate sustainability efforts, and increased investments in carbon reduction initiatives.

The United States plays a pivotal role, with state-level cap-and-trade programs like California’s Cap-and-Trade Program and the Regional Greenhouse Gas Initiative (RGGI) in the Northeast. These programs facilitate emissions trading and carbon offset projects, attracting investments from various industries.

Canada’s carbon pricing framework also strengthens the market. Policies such as British Columbia’s Carbon Tax and Quebec’s cap-and-trade system encourage businesses to participate in carbon credit transactions. The Canadian government’s commitment to reducing greenhouse gas emissions further supports the growth of carbon offset projects.

As regulatory policies evolve and more companies commit to net-zero goals, the Global Carbon Credit Market is set for continued expansion.

Major companies operating in Global Carbon Credit Market are:

Indigo Ag Inc
Climetrek
Carbon Credit Capital, LLC
Terra Global Capital, LLC
South Pole
Cargill, Incorporated.
Yara International ASA
EcoSoul Partners
Bayer AG
3Degrees

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“International climate agreements and global initiatives are crucial drivers of the Global Carbon Credit Market. The Paris Agreement, which aims to limit global warming to well below 2°C, has been a key catalyst for the development of carbon markets. Under the agreement, countries are required to submit Nationally Determined Contributions (NDCs), which outline their plans to reduce greenhouse gas emissions. Carbon credits play a vital role in helping countries meet their NDC targets by allowing them to trade emission reductions across borders. The establishment of Article 6 of the Paris Agreement, which provides a framework for international carbon trading, has further accelerated the growth of the market.

In addition to the Paris Agreement, other global initiatives, such as the United Nations' Sustainable Development Goals (SDGs) and the Climate Action 100+ initiative, are driving demand for carbon credits. These initiatives emphasize the importance of reducing emissions and promoting sustainable practices, creating a favorable environment for the carbon credit market to thrive. The increasing collaboration between governments, businesses, and non-governmental organizations (NGOs) on climate action is expected to strengthen the market”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Carbon Credit Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Removal Project, Avoidance Project, Combination Project), By Project Type (Forestry and Land Use, Agriculture), By Region and Competition, 2020-2030F”, has evaluated the future growth potential of Global Carbon Credit Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Carbon Credit Market.

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