Global Sustainability Certification Market Size, Share, and COVID-19 Impact Analysis, By Application (Energy & Emissions Management, Mobility & Transportation, Infrastructure, and Circular Economy), By Vertical (Industrial, Commercial, and Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

Global Sustainability Certification Market Insights Forecasts to 2033

• The Global Sustainability Certification Market Size was estimated at USD 2.91 Billion in 2023
• The Global Sustainability Certification Market Size is Expected to Grow at a CAGR of around 6.46% from 2023 to 2033
• The Worldwide Sustainability Certification Market Size is Expected to Reach USD 5.44 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Sustainability Certification Market Size is Expected to cross USD 5.44 Billion by 2033, Growing at a CAGR of 6.46% from 2023 to 2033. The increasing focus on cutting carbon emissions, the use of blockchain for open supply chain verification, the expanding use of digital channels, and AI-driven certificate management systems are all important opportunities for sustainability certification market.    

Market Overview

A systematic framework of standards, verification procedures, and regulatory guidelines aimed at evaluating and certifying businesses, products, or services according to environmental, social, and governance (ESG) standards is included in the sustainability certification market. Transparency, credibility, and market trust are ensured by the use of recognized certification organizations that assess adherence to sustainable standards. Industries that influence consumer preferences and corporate responsibility include manufacturing, construction, energy, and agriculture.

A low-carbon shift in the economy is being driven by global initiatives, as well as the green energy and carbon market trends, providing significant opportunities for the sustainability certification market. For instance, in January 2023, the French Bureau Veritas launched a comprehensive certification program for renewable hydrogen to ensure safe and sustainable generation of hydrogen from renewable resources. The certification, which assesses safety, carbon intensity, and ESG aspects, is open to investors and off-takers.  

Consumer preference for green products, increased corporate attention on ESG goals, and increased regulatory requirements for compliance with environmental standards are the main factors driving the sustainability certification market. The sustainability certification market is expanding as a result of developments in Industry 5.0 technologies and the increased focus on circular economy projects. Tight environmental laws and corporate sustainability pledges promote the market for sustainability certifications, which is driven by rising consumer awareness and demand for eco-friendly products.  

Report Coverage

This research report categorizes the sustainability certification market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the sustainability certification market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the sustainability certification market.   

Driving Factors

Innovations in digital verification technologies and the expanding application of AI-based analytics in certification are driving the growth of the sustainability certification market. The primary factor propelling this market's expansion is the desire for environmentally and socially conscious corporate practices. The market's demand is anticipated to be driven by rising customer demand for ethically and sustainably manufactured products.

The certification process is further improved by AI-driven solutions with sophisticated data analysis to improve compliance monitoring. Innovations in technology, such as blockchain-based traceability and AI-driven audits, improve operational efficiency and certification integrity. Global sustainability efforts, industry standards, consumer demand for sustainable products, corporate ESG commitments, strict environmental legislation, supply chain transparency, and technology improvements in digital verification are all factors driving the sustainability certification market.   

Restraining Factors

The main obstacle to the sustainability certification market, especially for SMEs, is the high expense of acquiring and renewing different certifications. High certification fees may deter smaller suppliers, which restricts industry growth and cross-sector penetration.    

Market Segmentation

The sustainability certification market share is classified into application and vertical.        

• The energy & emissions management segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.  

Based on the application, the sustainability certification market is divided into energy & emissions management, mobility & transportation, infrastructure, and circular economy. Among these, the energy & emissions management segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Energy and emissions management certifications are driven by the growing need for carbon neutrality, renewable energy, and lower emissions. Renewable energy certificates for solar, wind, hydrogen, biomass, and carbon and greenhouse gas (GHG) management systems are the firms main importance.   

• The industrial segment is anticipated to witness the fastest CAGR growth during the forecast period.

Based on the vertical, the sustainability certification market is divided into industrial, commercial, and residential. Among these, the industrial segment is anticipated to witness the fastest CAGR growth during the forecast period. Rapid financial industry digitization and growing cloud-based tier type adoption are the main drivers of the industrial segment. The segmental growth is a result of the growing need for resource efficiency, carbon footprint reduction, and regulatory compliance. Certifications are increasingly essential for preserving environmental compliance, boosting operational efficiency, and improving business image as sectors including manufacturing, energy, and construction place a high value on sustainability.    

Regional Segment Analysis of the Sustainability Certification Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the sustainability certification market over the predicted timeframe.

North America is anticipated to hold the largest share of the sustainability certification market over the predicted timeframe. Growing governmental pressure, consumer demand for eco-friendly products, and corporate sustainability objectives are the main drivers of North America's growth. Sustainability certifications have become more popular in North America, including the US and Canada, in sectors including industry, energy, fashion, and agriculture. For instance, as companies look to fulfill more stringent environmental standards and enhance their brand image, certifications like Fair Trade and LEED are becoming more and more popular in the United States.

Asia Pacific is expected to grow at the fastest CAGR growth of the sustainability certification market during the forecast period. The Asia Pacific region is characterized by rapid industrialization, rising regulatory demands, and a growing emphasis on sustainable development. Since Asia Pacific is the world's manufacturing hub and produces a significant portion of the world products, sustainability compliance is now a top priority for businesses looking to adjust to changing global standards. Leading nations in the adoption of green industrial practices and carbon footprint reduction include China, India, and South Korea.

Europe is predicted to hold a significant share of the sustainability certification market throughout the estimated period. Europe region consumer demand for sustainable products, corporate ESG activities, and the region's dedication to environmental rules are the main forces behind this movement. Further, certification procedures are being improved by developments in digital verification techniques like blockchain and AI-powered traceability.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the sustainability certification market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.  

List of Key Companies

• Eurofins Scientific
• Bureau Veritas
• DEKRA
• DNV GL
• Control Union
• TUV SUD
• Intertek Group plc
• TUV NORD Group
• UL LLC
• LRQA Group Limited
• SCS Global Services
• TUV Rheinland
• Element Materials Technology
• Green Business Certification Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Development

• In May 2024, the SGS Green Mark, the newest in the company's solutions for brands, manufacturers, suppliers, and retailers aiming to satisfy the growing consumer demand for greener goods and services, was launched, marking an expansion of SGS's portfolio of sustainability services.    

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sustainability certification market based on the below-mentioned segments:   

Global Sustainability Certification Market, By Application

• Energy & Emissions Management
• Mobility & Transportation
• Infrastructure
• Circular Economy

Global Sustainability Certification Market, By Vertical  

• Industrial
• Commercial
• Residential

Global Sustainability Certification Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa