Soil Carbon Market Gains Momentum as AlliedOffsets Tracks 2026 Growth

AlliedOffsets has released a new Soil Carbon Market Report examining how the sector is developing in 2026. The analysis covers credit issuance, leading project developers, buyer activity, geographic concentration and the expected supply pipeline.

The report presents 2026 as an important year for soil carbon without treating recent activity as definitive proof that the market has reached maturity. It is intended for credit buyers, investors and agricultural companies assessing soil carbon projects, Scope 3 emissions strategies and future procurement opportunities.

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Soil carbon supply remains concentrated

AlliedOffsets found that soil carbon credit supply is still dominated by a relatively small group of issuers. Northern Rangelands Trust is the largest issuer by a substantial margin, with volumes estimated at roughly two to three times those of the next-largest developer.

Other leading issuers include the Zhejiang Academy of Forestry Sciences, AgriProve, Hebei Lvyi Agricultural Technology, WeAct and Indigo Ag through its Carbon by Indigo program.

Supply is also geographically concentrated. India leads forecast future issuance, while Kenya, China and Brazil account for much of the remaining near-term pipeline. This concentration suggests that soil carbon has considerable room to expand into additional agricultural regions.

The number of credits approved under the Integrity Council for the Voluntary Carbon Market's Core Carbon Principles is increasing. The CCP framework evaluates factors including additionality, permanence, emissions accounting and safeguards.

In November 2025, the Integrity Council approved the Climate Action Reserve's Soil Enrichment Protocol. This allowed qualifying Carbon by Indigo credits to become the first agricultural soil carbon credits eligible for the CCP label, providing buyers with an additional integrity benchmark.

Buyer participation expands

AlliedOffsets reports that the identified buyer base increased from 80 buyers in 2022 to 128 in 2026. Major purchasers and credit retirees include Microsoft, Shell, NW Natural and PetroChina.

Microsoft provided a significant demand signal in January 2026 by signing a 12-year agreement to purchase 2.85 million soil carbon credits from Indigo. It was the technology company's third major transaction with the developer, indicating repeat demand rather than a one-off purchase.

Based on active projects and their current crediting periods, AlliedOffsets expects issuance to rise before reaching a peak in the early 2040s. Volumes could subsequently decline as existing projects approach the end of those periods. The forecast does not account for all projects that may enter development later.

About AlliedOffsets

AlliedOffsets is a carbon market intelligence and data company that tracks projects, developers, credit issuances, retirements, buyers and pricing across the voluntary carbon market. Its soil carbon report is designed to help market participants distinguish measurable activity from broader sector expectations.