diff --git a/packages/gatsby-plugin-sharp/package.json b/packages/gatsby-plugin-sharp/package.json
index 1093ca9088f76..840f5418e207a 100644
--- a/packages/gatsby-plugin-sharp/package.json
+++ b/packages/gatsby-plugin-sharp/package.json
@@ -21,7 +21,7 @@
     "probe-image-size": "^7.2.3",
     "semver": "^7.3.7",
     "sharp": "^0.30.7",
-    "svgo": "1.3.2"
+    "svgo": "^2.8.0"
   },
   "devDependencies": {
     "@babel/cli": "^7.15.4",
@@ -56,4 +56,4 @@
   "engines": {
     "node": ">=14.15.0"
   }
-}
+}
\ No newline at end of file
diff --git a/packages/gatsby-plugin-sharp/src/trace-svg.js b/packages/gatsby-plugin-sharp/src/trace-svg.js
index 0a039a50734bd..d216b192425a9 100644
--- a/packages/gatsby-plugin-sharp/src/trace-svg.js
+++ b/packages/gatsby-plugin-sharp/src/trace-svg.js
@@ -72,16 +72,23 @@ exports.notMemoizedPrepareTraceSVGInputFile = async ({
 }
 
 const optimize = svg => {
-  const SVGO = require(`svgo`)
-  const svgo = new SVGO({
+  const { optimize } = require(`svgo`)
+  const { data } = optimize(svg, {
     multipass: true,
     floatPrecision: 0,
     plugins: [
       {
-        removeViewBox: false,
+        name: `preset-default`,
+        params: {
+          overrides: {
+            // disable removeViewBox plugin
+            removeViewBox: false,
+          },
+        },
       },
       {
-        addAttributesToSVGElement: {
+        name: `addAttributesToSVGElement`,
+        params: {
           attributes: [
             {
               preserveAspectRatio: `none`,
@@ -91,7 +98,7 @@ const optimize = svg => {
       },
     ],
   })
-  return svgo.optimize(svg).then(({ data }) => data)
+  return data
 }
 
 exports.notMemoizedtraceSVG = async ({ file, args, fileArgs, reporter }) => {
diff --git a/packages/gatsby-source-contentful/src/__tests__/__snapshots__/gatsby-plugin-image.js.snap b/packages/gatsby-source-contentful/src/__tests__/__snapshots__/gatsby-plugin-image.js.snap
index ca23ed7eb3b1c..4a949fcad7511 100644
--- a/packages/gatsby-source-contentful/src/__tests__/__snapshots__/gatsby-plugin-image.js.snap
+++ b/packages/gatsby-source-contentful/src/__tests__/__snapshots__/gatsby-plugin-image.js.snap
@@ -81,7 +81,7 @@ https://images.ctfassets.net:443/k8iqpp6u0ior/3ljGfnpegOnBTFGhV07iC1/94257340bda
   },
   "layout": "constrained",
   "placeholder": Object {
-    "fallback": "data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20width='400'%20height='82'%20viewBox='0%200%20400%2082'%20preserveAspectRatio='none'%3e%3cpath%20d='M27%203C15%208%2010%2013%2010%2019c0%208%209%2011%2015%205%2010-8%2022-8%2032%200%204%204%209%204%2012%201C82%2012%2048-6%2027%203m305%207c-5%203-6%208-6%2029s0%2022%205%2022%205-1%205-16V32h4c4%200%206-2%206-5-1-3-2-3-6-3s-4%200-4-2c0-3%203-6%206-6%204%200%205-2%205-5-1-4-10-4-15-1m-130%205l-1%2019v19l3%203c3%203%203%203%209%203l6%201v-4c0-3-1-3-4-4-4-1-5-4-5-13%200-7%201-7%203-7%206%201%209-3%207-7-1-2-2-2-5-2h-5v-4c0-4-1-5-4-5l-4%201m102%200c-2%202-1%2034%200%2038%203%206%207%208%2015%207%205%200%203-8-1-8s-5-2-5-11v-9h4c4%200%206-1%206-4%200-4-2-5-6-5s-4%200-4-3l-1-5h-8m87%200v45l4%201%204-1V15h-8M96%2024c-14%207-15%2027-2%2034%207%204%2019%203%2023-2%201-2%201-2-1-5-3-2-3-2-7-1-10%204-17-3-14-12%202-6%208-9%2014-6%203%201%208-2%208-5%200-4-16-7-21-3m32%200c-15%208-12%2032%204%2036%2015%204%2028-9%2024-24-3-11-17-17-28-12m49-1l-5%202c-3%202-3%202-4%200s-2-2-4-2l-3%201-1%2015c-1%2019-1%2021%205%2021h4V49c1-13%201-14%205-17%204-2%206-1%2010%201%202%203%202%203%203%2015l1%2012h8V46c0-15-1-17-7-21-3-2-9-3-12-2m55%201c-15%207-15%2029%200%2035%207%203%2018%202%2023-2l2-2-2-3c-3-2-3-2-6-1-6%202-13%201-16-1-4-5-3-5%2012-5h14v-5c0-14-14-22-27-16m31%200l-1%2018v17l2%201c6%202%208%200%208-12%200-13%202-16%2010-16%205%200%207%203%207%2016l1%2011c2%202%205%202%207%201%203-2%203-25-1-30-4-7-14-9-21-5-4%202-4%202-4%200-1-2-6-3-8-1m87%200c-3%202-2%2024%200%2029%204%208%2014%2010%2022%206l4-1c0%202%205%204%207%202%201-1%202-3%202-18V25l-4-1c-6%200-6%201-6%2013s-2%2015-9%2015-8-3-8-16c0-10%200-11-2-12h-6M131%2034c-6%205-3%2016%204%2018%209%201%2015-8%2010-16-3-6-9-7-14-2M14%2055c-9%205-5%2015%208%2022%2016%208%2034%205%2046-6%2010-9-1-22-11-13-10%208-22%208-31%200-4-4-9-5-12-3'%20fill='%23639'%20fill-rule='evenodd'/%3e%3c/svg%3e",
+    "fallback": "data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20width='400'%20height='82'%20viewBox='0%200%20400%2082'%20preserveAspectRatio='none'%3e%3cpath%20d='M27%203C15%208%2010%2013%2010%2019c0%208%209%2011%2015%205%2010-8%2022-8%2032%200%204%204%209%204%2012%201C82%2012%2048-6%2027%203m305%207c-5%203-6%208-6%2029s0%2022%205%2022%205-1%205-16V32h4c4%200%206-2%206-5-1-3-2-3-6-3s-4%200-4-2c0-3%203-6%206-6%204%200%205-2%205-5-1-4-10-4-15-1m-130%205-1%2019v19l3%203c3%203%203%203%209%203l6%201v-4c0-3-1-3-4-4-4-1-5-4-5-13%200-7%201-7%203-7%206%201%209-3%207-7-1-2-2-2-5-2h-5v-4c0-4-1-5-4-5l-4%201m102%200c-2%202-1%2034%200%2038%203%206%207%208%2015%207%205%200%203-8-1-8s-5-2-5-11v-9h4c4%200%206-1%206-4%200-4-2-5-6-5s-4%200-4-3l-1-5h-8m87%200v45l4%201%204-1V15h-8M96%2024c-14%207-15%2027-2%2034%207%204%2019%203%2023-2%201-2%201-2-1-5-3-2-3-2-7-1-10%204-17-3-14-12%202-6%208-9%2014-6%203%201%208-2%208-5%200-4-16-7-21-3m32%200c-15%208-12%2032%204%2036%2015%204%2028-9%2024-24-3-11-17-17-28-12m49-1-5%202c-3%202-3%202-4%200s-2-2-4-2l-3%201-1%2015c-1%2019-1%2021%205%2021h4V49c1-13%201-14%205-17%204-2%206-1%2010%201%202%203%202%203%203%2015l1%2012h8V46c0-15-1-17-7-21-3-2-9-3-12-2m55%201c-15%207-15%2029%200%2035%207%203%2018%202%2023-2l2-2-2-3c-3-2-3-2-6-1-6%202-13%201-16-1-4-5-3-5%2012-5h14v-5c0-14-14-22-27-16m31%200-1%2018v17l2%201c6%202%208%200%208-12%200-13%202-16%2010-16%205%200%207%203%207%2016l1%2011c2%202%205%202%207%201%203-2%203-25-1-30-4-7-14-9-21-5-4%202-4%202-4%200-1-2-6-3-8-1m87%200c-3%202-2%2024%200%2029%204%208%2014%2010%2022%206l4-1c0%202%205%204%207%202%201-1%202-3%202-18V25l-4-1c-6%200-6%201-6%2013s-2%2015-9%2015-8-3-8-16c0-10%200-11-2-12h-6M131%2034c-6%205-3%2016%204%2018%209%201%2015-8%2010-16-3-6-9-7-14-2M14%2055c-9%205-5%2015%208%2022%2016%208%2034%205%2046-6%2010-9-1-22-11-13-10%208-22%208-31%200-4-4-9-5-12-3'%20fill='%23639'%20fill-rule='evenodd'/%3e%3c/svg%3e",
   },
   "width": "1646",
 }
@@ -357,7 +357,7 @@ https://images.ctfassets.net:443/k8iqpp6u0ior/3ljGfnpegOnBTFGhV07iC1/94257340bda
   },
   "layout": "constrained",
   "placeholder": Object {
-    "fallback": "data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20width='400'%20height='82'%20viewBox='0%200%20400%2082'%20preserveAspectRatio='none'%3e%3cpath%20d='M27%203C15%208%2010%2013%2010%2019c0%208%209%2011%2015%205%2010-8%2022-8%2032%200%204%204%209%204%2012%201C82%2012%2048-6%2027%203m305%207c-5%203-6%208-6%2029s0%2022%205%2022%205-1%205-16V32h4c4%200%206-2%206-5-1-3-2-3-6-3s-4%200-4-2c0-3%203-6%206-6%204%200%205-2%205-5-1-4-10-4-15-1m-130%205l-1%2019v19l3%203c3%203%203%203%209%203l6%201v-4c0-3-1-3-4-4-4-1-5-4-5-13%200-7%201-7%203-7%206%201%209-3%207-7-1-2-2-2-5-2h-5v-4c0-4-1-5-4-5l-4%201m102%200c-2%202-1%2034%200%2038%203%206%207%208%2015%207%205%200%203-8-1-8s-5-2-5-11v-9h4c4%200%206-1%206-4%200-4-2-5-6-5s-4%200-4-3l-1-5h-8m87%200v45l4%201%204-1V15h-8M96%2024c-14%207-15%2027-2%2034%207%204%2019%203%2023-2%201-2%201-2-1-5-3-2-3-2-7-1-10%204-17-3-14-12%202-6%208-9%2014-6%203%201%208-2%208-5%200-4-16-7-21-3m32%200c-15%208-12%2032%204%2036%2015%204%2028-9%2024-24-3-11-17-17-28-12m49-1l-5%202c-3%202-3%202-4%200s-2-2-4-2l-3%201-1%2015c-1%2019-1%2021%205%2021h4V49c1-13%201-14%205-17%204-2%206-1%2010%201%202%203%202%203%203%2015l1%2012h8V46c0-15-1-17-7-21-3-2-9-3-12-2m55%201c-15%207-15%2029%200%2035%207%203%2018%202%2023-2l2-2-2-3c-3-2-3-2-6-1-6%202-13%201-16-1-4-5-3-5%2012-5h14v-5c0-14-14-22-27-16m31%200l-1%2018v17l2%201c6%202%208%200%208-12%200-13%202-16%2010-16%205%200%207%203%207%2016l1%2011c2%202%205%202%207%201%203-2%203-25-1-30-4-7-14-9-21-5-4%202-4%202-4%200-1-2-6-3-8-1m87%200c-3%202-2%2024%200%2029%204%208%2014%2010%2022%206l4-1c0%202%205%204%207%202%201-1%202-3%202-18V25l-4-1c-6%200-6%201-6%2013s-2%2015-9%2015-8-3-8-16c0-10%200-11-2-12h-6M131%2034c-6%205-3%2016%204%2018%209%201%2015-8%2010-16-3-6-9-7-14-2M14%2055c-9%205-5%2015%208%2022%2016%208%2034%205%2046-6%2010-9-1-22-11-13-10%208-22%208-31%200-4-4-9-5-12-3'%20fill='%23d3d3d3'%20fill-rule='evenodd'/%3e%3c/svg%3e",
+    "fallback": "data:image/svg+xml,%3csvg%20xmlns='http://www.w3.org/2000/svg'%20width='400'%20height='82'%20viewBox='0%200%20400%2082'%20preserveAspectRatio='none'%3e%3cpath%20d='M27%203C15%208%2010%2013%2010%2019c0%208%209%2011%2015%205%2010-8%2022-8%2032%200%204%204%209%204%2012%201C82%2012%2048-6%2027%203m305%207c-5%203-6%208-6%2029s0%2022%205%2022%205-1%205-16V32h4c4%200%206-2%206-5-1-3-2-3-6-3s-4%200-4-2c0-3%203-6%206-6%204%200%205-2%205-5-1-4-10-4-15-1m-130%205-1%2019v19l3%203c3%203%203%203%209%203l6%201v-4c0-3-1-3-4-4-4-1-5-4-5-13%200-7%201-7%203-7%206%201%209-3%207-7-1-2-2-2-5-2h-5v-4c0-4-1-5-4-5l-4%201m102%200c-2%202-1%2034%200%2038%203%206%207%208%2015%207%205%200%203-8-1-8s-5-2-5-11v-9h4c4%200%206-1%206-4%200-4-2-5-6-5s-4%200-4-3l-1-5h-8m87%200v45l4%201%204-1V15h-8M96%2024c-14%207-15%2027-2%2034%207%204%2019%203%2023-2%201-2%201-2-1-5-3-2-3-2-7-1-10%204-17-3-14-12%202-6%208-9%2014-6%203%201%208-2%208-5%200-4-16-7-21-3m32%200c-15%208-12%2032%204%2036%2015%204%2028-9%2024-24-3-11-17-17-28-12m49-1-5%202c-3%202-3%202-4%200s-2-2-4-2l-3%201-1%2015c-1%2019-1%2021%205%2021h4V49c1-13%201-14%205-17%204-2%206-1%2010%201%202%203%202%203%203%2015l1%2012h8V46c0-15-1-17-7-21-3-2-9-3-12-2m55%201c-15%207-15%2029%200%2035%207%203%2018%202%2023-2l2-2-2-3c-3-2-3-2-6-1-6%202-13%201-16-1-4-5-3-5%2012-5h14v-5c0-14-14-22-27-16m31%200-1%2018v17l2%201c6%202%208%200%208-12%200-13%202-16%2010-16%205%200%207%203%207%2016l1%2011c2%202%205%202%207%201%203-2%203-25-1-30-4-7-14-9-21-5-4%202-4%202-4%200-1-2-6-3-8-1m87%200c-3%202-2%2024%200%2029%204%208%2014%2010%2022%206l4-1c0%202%205%204%207%202%201-1%202-3%202-18V25l-4-1c-6%200-6%201-6%2013s-2%2015-9%2015-8-3-8-16c0-10%200-11-2-12h-6M131%2034c-6%205-3%2016%204%2018%209%201%2015-8%2010-16-3-6-9-7-14-2M14%2055c-9%205-5%2015%208%2022%2016%208%2034%205%2046-6%2010-9-1-22-11-13-10%208-22%208-31%200-4-4-9-5-12-3'%20fill='%23d3d3d3'%20fill-rule='evenodd'/%3e%3c/svg%3e",
   },
   "width": "1646",
 }