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Voluntary Carbon Offsets Market by Type (Forestry, Renewable Energy, Landfill Methane Projects, Others), by Application (Industrial, Household Device, Energy Industry, Agriculture, Others), by End-Use (Government, Non-Government, Private Sector, Others), by North America (United States, Canada, Mexico), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by South America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Voluntary Carbon Offsets Market size was valued at USD 2.1 USD Billion in 2023 and is projected to reach USD 3.03 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. Carbon offsets are credits that are purchased to balance emissions of carbon, usually outside legal obligation. They come in two types: Activity based offsets which are used for a specific project such as afforestation or energy generating project, Project based offset which are purchased for funding reforestation or other renewable energy projects, Market based offsets which can be purchased through emissions trading market. Some of the characteristics include the verifiability using indexes that are recognized globally or internationally such as the Voluntary Carbon Standard or the Gold Standard. From Global corporations, incorporating sustainability measures to personal endeavours to achieve carbon neutrality, with a global aim of reducing environmental degradation. By buying carbon units through the _offsets, entities can offset their carbon footprint by funding different environmental projects meant for sustainable development.
Type:
Application:
End-Use:
Political: Government regulations and incentives
Economic: Impact of economic growth on carbon emissions
Social: Changing consumer attitudes towards climate change
Technological: Advancements in carbon capture and sequestration
Legal: Environmental laws and regulations
Environmental: Climate change and its impact on ecosystems
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
|
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
|
Note* : In applicable scenarios
Primary Research
Secondary Research
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During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
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