The global ESG & sustainability advisory market is estimated to be valued at US$ 39.3 billion in 2023 and expand at a CAGR of 6.3% through 2033.
The market is driven by surging awareness regarding environmental issues in developing economies and increasing focus of businesses on value generation while reducing carbon footprint. Since ESG & sustainability consultants are experts known for strategy and tactics, they guide businesses in improving their environmental, social, and governance performance and investments.
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With the significant rise in carbon footprint and government regulations framed regarding the reduction of these emissions, several businesses are approaching consulting firms to screen investments based on corporate policies and act responsively towards the environment. Owing to these factors, the market is projected to rise at a significant pace during the forecast period.
Key Takeaways from Market Study
· North America is expected to accounts for a leading share of 48% of the global market.
· During the historic period (2018-2022), the market expanded at a CAGR of 4.1%.
· Among the end-use industries, health & life science accounted for a leading share of 21% in 2022.
During the forecast period (2023-2033), the market is projected to rise at a CAGR of 6.3 %
“Stringent government policies will drive the demand for ESG & sustainability consulting services over the coming years,” says a Fact.MR analyst.
Market Development
The market is highly fragmented with the presence of various large and small firms providing ESG & sustainability consultancy. The market is expected to be highly competitive with the entrance of large market players such as Ernst & Young, McKinsey & Group, and others in the industry. Mergers & acquisition and expansion of service portfolios are being adopted by large market players to enhance their share and consumer base.
In September 2022, Ernst & Young completed the acquisition of AFARA , a sustainability consulting firm.
· In September 2022, Boston Consulting Group completed the acquisition of Quantis , a sustainability consulting firm.
More Valuable Insights on Offers
Fact.MR, in its new offering, presents an unbiased analysis of the global ESG & Sustainability Consulting market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on service (contaminated land, climate change & energy, environmental impact assessment & sustainable development, environment management & due diligence, water & waste management, others (not mentioned elsewhere)) and end-use industry (health & life science, defense & security, public services, energy & utilities, BFSI, consumer & manufacturing, transportation, others (not mentioned elsewhere)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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