2023 Global Biochar Market Report

On behalf of the International Biochar Initiative (IBI) and the US Biochar Initiative (USBI), we are pleased to share the 2023 Global Biochar Market Report, the first biochar industry-led global report since 2015.

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Biochar has come into its own as a CDR technology, a circular climate change mitigation and adaptation solution, and as an input material for agriculture, the built environment, and soil and water remediation work, among other sectors. This report highlights the growth in the biochar industry, along with priorities, challenges, and insights, gathered during a 2023 survey. 

“The results from this survey highlight the growth in the biochar industry as it emerges as a key CDR technology. At the same time, the survey sends a clear message that developing high volume, high value markets for biochar is a key challenge.”

— Myles Gray, Programs Director, USBI

“Biochar is a system, and this market research confirms the interconnectedness of market demand, carbon credits, physical biochar benefits and uses. The versatility of the biochar system to solve multiple climate change problems, including but not limited to carbon removal, shines through this report.”

— Lucia Brusegan, Board Chair, IBI

The report is focused on five key findings from the 1,000+ global respondents: 

  1. Biochar continues to lead the way in delivering durable CDR with global production of at least 350,000 metric tonnes of biochar annually, a 91% CAGR over reported 2021 production. From an economic perspective:
    • Revenues from biochar producers, distributors, value-added producers, and equipment manufacturers exceeded $600M USD in 2023, with a CAGR of 97% between 2021 and 2023. 
    • Revenues are projected to grow further to nearly $3.3 Billion by 2025.
  2. CDR markets for biochar carbon credits are thriving, but a majority of biochar producers do not generate Biochar Carbon Removal (BCR) credits for the VCM.
  3. Markets for biochar are growing, but developing high quality markets for physical biochar is a leading obstacle to further growth in the industry.
  4. Within and between global regions, biochar producers use a wide range of production technologies and business models. Building an industry that works for all scales and models is key. 
  5. The industry is expecting biochar organizations to focus on:
    •  Developing end-use markets and standards for physical biochar
    •  Advocating for biochar in the CDR space and in governmental policy
    •  Supporting biochar companies to improve access to capital and grants 

Beyond these five highlights, this report includes key findings among and between global regions and within different subsectors of the industry. Thanks to the 1,000+ respondents who shared their company market data to help IBI and USBI create a timely and accurate snapshot of the global biochar industry.

Having trouble downloading the report? Email l.boritzkesmith@biochar-international.org.