Strategic Forecast for the Social Audit Services Industry: Market Outlook 2025-2034

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Social Audit Services Market Size Growth Forecast: What to Expect by 2025?
The market for social audit services has seen swift expansion in the past few years. It is projected to rise from $16.49 billion in 2024 to $19.36 billion in 2025, experiencing a compound annual growth rate (CAGR) of 17.4%. The growth during the historical period is associated with the transition to eco-friendly alternatives, the importance placed on acquiring socially recognized certifications for increased business growth, the surge in corporate social responsibility (CSR) program investments, and heightened focus on climate variations resulting from diverse industrial activities, alongside increased investment towards workplace improvement.

How Will the Social Audit Services Market Size Evolve and Grow by 2029?
Rapid expansion is anticipated in the social audit services market in the upcoming years, with the market projected to reach $36.34 billion in 2029, showing a compound annual growth rate (CAGR) of 17.1%. This surge during the forecast period can be credited to the increasing demand for quality management services, a rise in corporate auditing expenditures, the execution of corporate social responsibility (CSR) initiatives across various sectors, an increasing focus on incorporating social and environmental responsibilities into business objectives, and the enhancement of occupational safety standards. The forecast period is characterised by major trends such as technological advancements, boosting public relations, increasing business profitability, expanding customer base, and innovative product launches.

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What Drivers Are Propelling the Growth of Social Audit Services Market Forward?
The continuous rise in corporate social responsibility is set to fuel the expansion of the social audit services market in the future. Corporate social responsibility signifies a business's pledge to conduct its operations in an ethical and socially responsible manner. This increase in social corporate responsibility can be attributed to a heightened awareness of corporate culture, workforce attraction and retention, and reputation management. Social audit services aid in confirming the efficiency, transparency, and alignment of CSR initiatives with larger social and environmental goals. These audits perform an organized evaluation of a company's CSR activities, measuring the congruity of its actions with its declared CSR objectives and commitments, and pinpointing strengths and potential areas of enhancement. For example, as per the Nonprofits Source, a US-based non-profit organization, the amount of corporate donations escalated from $20.77 billion in 2021 to $29.48 billion in 2022. Therefore, the increasing corporate social responsibility is spurring the expansion of the social audit services market.

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Which Emerging Trends Are Transforming the Social Audit Services Market in 2025?
Leading corporations in the social audit services market are striving to introduce novel solutions like social audit systems tailored for farmers to increase transparency, boost adherence to social and environmental criteria, and offer stakeholder insights that are both precise and actionable. The social audit systems designed for farmers aim at assessing and improving the social, ecological, and economic dimensions of farming practices. These systems seek to guarantee ethical, sustainable farming practices that also contribute positively to the farmers and their communities. For instance, in December 2022, Krishi Bhavan- a farmers' welfare and agriculture development company based in India, launched a social audit platform to efficiently manage farmer grievances. The novel system is designed to hasten the grievance resolution process leveraging community engagement in evaluating and overseeing the department's performance. This joint effort is forecasted to elevate transparency and responsibility in the department's operations.

What Are the Key Segments in the Social Audit Services Market?
The social audit servicesmarket covered in this report is segmented -

1) By Audit Type: Social And Quality Management, Occupational Health And Fire Safety, Ethical Trading, Social Impact Assessment, Corporate Social Responsibility, Climatic Change Assessment, Anti-Corruption Audits, Other Audit Types
2) By Application: Large Enterprises, Small And Medium Sized Enterprises
3) By End-Users: Food And Beverage, Oil And Gas, Apparels And Footwear Industry, Industrial Machinery, Banking, Financial Services And Insurance (BFSI), Retail, Telecom, Power Generation, Mining, Other End-Users

Subsegments:
1) Social And Quality Management: Quality Assurance Audits, Social Compliance Audits, Community Engagement Assessments
2) Occupational Health And Fire Safety: Health and Safety Audits, Fire Safety Assessments, Workplace Risk Assessments
3) Ethical Trading: Supplier Audits, Fair Trade Compliance, Labor Practices Assessments
4) Social Impact Assessment: Community Impact Studies, Stakeholder Analysis, Environmental Impact Assessments
5) Corporate Social Responsibility: CSR Strategy Audits, Sustainability Reporting Assessments, Philanthropy Evaluation
6) Climatic Change Assessment: Carbon Footprint Audits, Climate Risk Assessments, Resilience Evaluations
7) Anti-Corruption Audits: Fraud Risk Assessments, Whistleblower Policy Evaluations, Corruption Risk Assessments
8) Other Audit Types: Custom Audit Services, Industry-Specific Audits, Nonprofit Audits

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Who Are the Key Players Shaping the Social Audit Services Market's Competitive Landscape?
Major companies operating in the social audit services market are Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International Limited, BDO International Ltd., RSM International, Grant Thornton International Ltd., Baker Tilly International, Moore Global Network Limited, Intertek Group PLC, Marcum LLP, Forvis Mazars Group, TUV Nord AG, DQS CFS GmbH, Wipfli LLP, Sikich LLP, HQTS Group Ltd., Dixon Hughes Goodman LLP, SCS Global Services Inc., TÜV Rheinland AG, SGS Group, CSR Company International

What Geographic Markets Are Powering Growth in the Social Audit Services Market?
Asia-Pacific was the largest region in the social audit services market in 2024. The regions covered in the social audit services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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