The global voluntary carbon credit market size was estimated at USD 4.04 billion in 2024 and is projected to reach USD 23.99 billion by 2030, growing at a CAGR of 35.1% from 2025 to 2030. The rapid growth of this market is primarily driven by a growing number of companies committing to achieving net-zero emissions, coupled with the pressing need for carbon offsets to compensate for greenhouse gas emissions that cannot be completely eliminated through internal measures.

Looking ahead, the market is expected to transition its focus from merely reducing emissions to actively removing carbon from the atmosphere. This shift is underscored by the increasing prominence of removal credits, which are projected to constitute about 35% of the total market share by 2030. This change reflects a broader recognition of the critical role that carbon removal plays in addressing climate change and achieving long-term sustainability.

The expanding significance of carbon credits in meeting environmental and sustainability goals is a major catalyst for market growth. Both corporations and governments are increasingly acknowledging the importance of reliable and credible incentives to promote genuine emissions reductions. Consequently, the market is evolving to emphasize the quality, transparency, and verifiability of carbon credits, ensuring that offsets represent real, measurable, and additional environmental benefits.

A key driver behind this expansion is the surge in corporate net-zero pledges. As more companies publicly commit to reaching net-zero emissions, they are turning to the voluntary carbon credit market as a vital tool to offset emissions that remain after all possible reductions have been made internally. This surge in demand is fueled by the growing urgency for businesses to take meaningful climate action and visibly demonstrate their dedication to sustainability principles. The voluntary carbon credit market thus offers these organizations a practical mechanism to compensate for their residual emissions and actively participate in the global effort to mitigate climate change.

Key Market Trends & Insights:

• In 2024, the North America voluntary carbon credit market held a dominant position in the global landscape, capturing the largest revenue share of more than 37.07%. This significant market presence highlights the region’s leading role in the adoption and trading of voluntary carbon credits worldwide.

• Within North America, the United States stands out as the primary driver of market activity, dominating the regional voluntary carbon credit market. In 2024, the U.S. accounted for a substantial revenue share exceeding 81.0% of the total North American market, underscoring its pivotal influence and extensive participation in carbon credit transactions.

• When segmented by project type, renewable energy projects emerged as the clear leader in the voluntary carbon credit market, contributing a revenue share of over 39.09% in 2024. This indicates the significant role renewable energy initiatives play in generating carbon credits, reflecting the global push toward clean energy solutions to reduce carbon footprints.

• Analyzing the market based on application sectors, the industrial segment claimed the highest revenue share, accounting for 32.21% of the market in 2024. This underscores the critical importance of industrial companies in purchasing and utilizing carbon credits to offset emissions and meet sustainability goals.

• Finally, from the perspective of end-use, private companies dominated the voluntary carbon credit market, holding a share of more than 62.13% in 2024. This dominance demonstrates the increasing commitment among private enterprises to invest in carbon offsets as part of their broader environmental, social, and governance (ESG) strategies.

Order a free sample PDF of the Voluntary Carbon Credit Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2024 Market Size: USD 4.04 Billion

• 2030 Projected Market Size: USD 23.99 Billion

• CAGR (2025-2030): 35.1% 

• North America: Largest market in 2024

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

The voluntary carbon credit market is becoming increasingly competitive as a growing number of players vie for market share. Leading organizations such as South Pole, Verra, and Gold Standard distinguish themselves by offering high-integrity carbon offset projects. These companies uphold robust certification standards and ensure transparent reporting, which is critical to addressing the escalating corporate demand for reliable and credible carbon offsets. Their stringent quality measures help build trust among buyers looking for verified emissions reductions.

Meanwhile, emerging competitors in the market are gaining ground by adopting cutting-edge technologies. Innovations such as blockchain platforms—for example, Toucan and KlimaDAO—are being employed to improve the traceability of carbon credits, making the entire process more transparent and secure. Additionally, AI-driven monitoring systems are increasingly utilized to minimize the risks associated with double-counting of carbon credits, enhancing the overall integrity of the market.

In terms of the types of carbon credit projects, nature-based solutions remain dominant in the higher-priced segments. This includes initiatives like reforestation and programs focused on Reducing Emissions from Deforestation and Forest Degradation (REDD+), which emphasize the preservation and restoration of natural ecosystems. At the same time, engineered removal technologies such as Direct Air Capture (DAC) and biochar are gaining traction as important contributors in the premium carbon credit market. These advanced methods focus on actively removing carbon dioxide from the atmosphere and securing it long-term, appealing to companies seeking innovative and effective options to meet their climate commitments.

Key Players

• Ecosecurities

• BioCarbon Partners

• BURN Manufacturing

• Biofílica Ambipar

• Indus Delta Capital Limited

• Terrasos

• EKI Energy Services Ltd. (formerly EnKing International)

• 3Degrees

• Climate Impact Partners

• EcoAct

• AB Verra

• Puro.earth

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

The voluntary carbon credit market is poised for rapid growth driven by increasing corporate commitments to achieve net-zero emissions and the urgent global focus on climate action. High demand for credible, transparent, and verifiable carbon offsets is encouraging innovation and adoption of advanced technologies such as blockchain and AI to improve market integrity. Nature-based solutions continue to dominate, while engineered carbon removal technologies are emerging in premium segments. Strong regional leadership, especially in North America and the U.S., along with growing industrial and private sector participation, will further propel market expansion. Overall, the market is evolving into a vital mechanism supporting sustainability goals and global emissions reduction efforts.