The Carbon Credit For Agriculture, Forestry, And Land Use Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Carbon Credit For Agriculture, Forestry, And Land Use Global Market Report 2024, The carbon credit for agriculture, forestry, and land use market size has grown exponentially in recent years. It will grow from $4.52 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to expansion of carbon offset projects, increase efforts to educate stakeholders, impact of Climate Policies, expansion of renewable energy projects, and Increasing consumer preference for environmentally friendly products.
The carbon credit for agriculture, forestry, and land use market size is expected to see exponential growth in the next few years. It will grow to $16.14 billion in 2028 at a compound annual growth rate (CAGR) of 29%. The growth in the forecast period can be attributed to improvements in reporting standards, urgency to address climate change, promote biodiversity conservation, ongoing efforts to standardize carbon credit, and investments in climate-resilient agricultural and forestry practices. Major trends in the forecast period include satellite imaging, machine learning, blockchain technology, robust monitoring techniques, and advancements in soil carbon sequestration.
The growing demand for reducing carbon emissions is expected to propel the growth of the carbon credit for agriculture, forestry, and land use market going forward. Carbon emissions refer to releasing carbon dioxide (CO2) and other greenhouse gases into the atmosphere. The demand for reducing carbon emissions is spurring innovation and research in areas such as renewable energy, battery storage, carbon capture and storage (CCS), and sustainable agriculture to achieve sustainable and long-lasting impacts. Carbon credits reduce emissions by incentivizing activities that remove carbon dioxide or prevent emissions, balancing the carbon footprint in agriculture, forestry, and land use. For instance, according to Microsoft’s 2022 Environmental Sustainability Report, a US-based software development company, in 2022, the company acquired 1.44 million metric tons of carbon credits and retired 514,156 metric tons in line with their annual carbon neutrality commitment. Therefore, the growing demand for reducing carbon emissions is driving the growth of the carbon credit for agriculture, forestry, and land use.
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The carbon credit for agriculture, forestry, and land use market covered in this report is segmented –
1) By Type: Voluntary, Compliance
2) By Project Type: Forestry And Land Use, Agriculture
3) By Application: Avoidance Projects, Removal Projects, Combination Projects
Major companies operating in the carbon credit for agriculture forestry and land use market are focusing on developing innovative technological solutions, such as the multi-activity carbon credit SaaS platform, to help the world meet its decarbonization targets. A multi-activity carbon credit SaaS platform is a software solution that generates high-quality carbon offsets from multiple mitigation activities by leveraging a variety of data sources and technologies. For instance, in September 2023, CERO Technologies, an India-based software company, launched a carbon credit generation SaaS platform. The technology is identified as the digital measurement, reporting, and verification (dMRV) platform, which tackles the market’s present supply restrictions, inefficiencies, and credibility difficulties. The platform speeds up carbon credit calculation and verification by interacting with high-quality data and producing high-quality carbon credits in real-time.
The carbon credit for agriculture, forestry, and land use market report table of contents includes:
1. Executive Summary
2. Carbon Credit For Agriculture, Forestry, And Land Use Market Characteristics
3. Carbon Credit For Agriculture, Forestry, And Land Use Market Trends And Strategies
4. Carbon Credit For Agriculture, Forestry, And Land Use Market – Macro Economic Scenario
5. Global Carbon Credit For Agriculture, Forestry, And Land Use Market Size and Growth
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32. Global Carbon Credit For Agriculture, Forestry, And Land Use Market Competitive Benchmarking
33. Global Carbon Credit For Agriculture, Forestry, And Land Use Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Carbon Credit For Agriculture, Forestry, And Land Use Market
35. Carbon Credit For Agriculture, Forestry, And Land Use Market Future Outlook and Potential Analysis
36. Appendix
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