Sustainability Consulting Market: Current Analysis and Forecast (2022-2028)

Sustainability Consulting Market: Current Analysis and Forecast (2022-2028)

The global sustainability consulting market is expected to witness a CAGR of around 5% during the forecast period (2022–2028). As the market is anticipated to witness owing to increase in investments in smart cities, global collaboration for environmental protection, and sustainable development. Major companies in the market offer sustainability consulting for energy & power applications with technologically advanced features. For instance, in April 2021, McKinsey & Company launched their McKinsey Sustainability, the new client-service platform with the goal of helping all industry sectors transform to get to net zero by 2050 and to cut carbon emissions by half by 2030.

In addition, major players such as McKinsey & Company, EY, KPMG, Bain & Company, Deloitte, Boston Consulting Group, PA Consulting Group (Jacobs), Accenture, Tata Consultancy Services (Blue Monitor Systems), DuPont Sustainable Solutions

Sustainability consulting can be referred to as any organization or firm who are working towards a sustainable world. They are many consulting teams working as green consultants, eco consultants, environmental management consultants, and environmental sustainability consultants. Also, like management consultants, sustainability consultants are consultants and professionals who specialize in helping businesses take greater responsibility for the environment. Moreover, the sustainability consulting market is driven by strong economic growth in emerging markets, the impact of e-waste, increasing government regulation, and the rise of shale oil and shale gas exploration.

Insights Presented in the Report
"Amongst product type, testing, auditing, and verification category to hold a significant share in the market”

Based on product type, the market is fragmented into strategy and planning, technical support, testing_ auditing & verification, and sustainability marketing. During the forecast period, the testing_auditing & verification segment are expected to grow at a significant CAGR. This is mainly due to the investment assessment and auditing which is the first step. Also, with the rise in demand for environmental consulting services, this segment is likely to perform exceptionally well in the coming years. Hence, many activities such as CSR audits, Carbon footprint verification, Carbon neutral organization, and EPEAT & Green electronics are some of the testing, auditing, and verification sustainability for growth and excellence in the area.
"Amongst application, oil & gas to hold a significant share in the market”

Based on application, the market is fragmented into chemicals, building & construction, agriculture, food & beverage, mining, oil & gas, and others. In 2020, the oil & gas segment is expected to grow with a considerable CAGR during the forecast period. As it is the most capital-intensive industry, it is highly needed to protect health security. Additionally, awareness of the environmental hazards of industrialization permeates every industry. Also, major key players are focused on understanding current and future environmental impacts to make informed water and waste management investment decisions. Moreover, sustainability consulting makes it easier to accurately grasp the impact of corporate activities on the environment. Many world forums and governments have enacted environmental laws that industry must comply with. These regulations are the major market drivers for the environmental consulting services market.

North America to witness significant growth during the forecast period”

North America is expected to grow with a considerable CAGR during the forecast period. This is mainly due to the leading to the restructuring of organization-wide systems. For instance, in July 2022, the 29th annual Regular Session of the Council of the Commission for Environmental Cooperation (CEC) of North America took place in Mérida, Mexico with the theme of Community-led environmental education for sustainable development. In addition, the occurrence of several disasters in the past propelled the demand for sustainability consulting services for emergency site remediation planning and cleanups. Several regulations have been imposed by governments for the protection of the environment. Many key players are providing services for site remediation, natural resource management, environmental auditing, and waste management. Other services provided by such consultancies include project management, monitoring and testing, and operation and maintenance. Government bodies also hire these consultancies for preparing updated reports on the impact of various factors on the environment, which help them modify the existing regulations or propose new ones.

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