The Carbon Farming Market is estimated to grow at a CAGR of around 11.58% during the forecast period, i.e., 2023-28.
Key Findings of the Study: Carbon Farming Market
Global Carbon Farming Market Key Trend: Rising Tendency Towards Accumulating Carbon Credits
The rising adoption of Carbon farming practices to avail carbon credits, owing to its advantages in providing financial incentives to the farmers & landowners to adopt carbon sequestration practices, is a key factor driving the market growth. The credits are a way for companies & other organizations to offset their CO2 emissions by supporting projects that sequester carbon, which can be sold, thereby providing a new source of revenue for farmers & landowners. The ability of these credits to offset the costs associated with adopting these farming practices, which often involve upfront investments in technology & equipment, has further promoted the adoption of digitalized tools for Carbon farming.
Moreover, the launch of various initiatives by the government of the US, Canada, the UK, China, and India, etc., is widely encouraging the adoption of this type of farming. Furthermore, carbon credits help to create a market for CO2 sequestration services & encourage the development of new & innovative technologies & practices. Therefore, further driving innovation in the industry, as well as enhancing the market growth in the following years.
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Scope of the Report and Carbon Farming Market Segmentation
By Methods
-Conservation Agriculture
-Agroforestry
-Reforestation
-Grazing Management
-Biochar
By Component
-Hardware
–Sensors
–Drones
–GPS Devices
–Irrigation Systems
–Other Farm Equipment
-Software
–Farm Management Software
–Crop Modelling and Analytics Software
–Climate Modelling Software
–Supply Chain Management Software
–Others (Decision Support Tools, Carbon Accounting, etc.)
-Services
–Carbon Offset Development
–Project management
–Technical Consulting
–Financial Services
–Training
- the services segment is expected to acquire a substantial share of the market in the forecast years.
By End User
-Agriculture
-Forestry
Top leading companies in the Carbon Farming Market includes:
By Agriculture – BASF SE, Agoro Carbon Alliance {Yara International}, Indigo Ag, Inc., Bayer AG, CropX Inc., Agri, Agrible, AgroSmart, Conservis, Trimble, Others
By Forestry – Ecosphere+, Pachama, Silvi Carbon, TerraCarbon, New Forest Advisory Pty Limited, Finite Carbon, Others
Carbon Farming Market Development
- 2023: CropX announced the acquisition of a precision irrigation startup, Tule Technologies, to strengthen its analytics platforms & enter into drip-irrigated specialty crops in California, such as tree nuts & vineyards, to promote Carbon farming.
- 2022: BASF Agriculture Solutions announced a collaboration with Boortmalt, one of the leading malted barley providers, to deliver various tools & platforms to support climate-smart farming practices & reduce CO2 emissions associated with barley production in Ireland.
For more detailed information about the Carbon Farming market report, click here – https://www.marknteladvisors.com/research-library/carbon-farming-market.html
Geographical analysis:
North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, Australia, Indonesia, Rest of Asia Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: Saudi Arabia, Nigeria, Egypt, South Africa, Rest of Middle East & Africa
- Of all the regions globally, North America is predicted to hold a substantial share of the Global Carbon Farming market in the forecast years.
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