Overview and Scope
Blockchain in agriculture and food supply chain refers to a technology that enables information traceability throughout the food supply chain to enhance food safety. Additionally, it gives users a safe way to store and manage data, which makes it easier to create and use data-driven innovations for smart farming and smart index-based crop insurance.
Sizing and Forecast
The blockchain in agriculture and food supply chain market size has grown exponentially in recent years. It will grow from $0.4 billion in 2023 to $0.59 billion in 2024 at a compound annual growth rate (CAGR) of 46.4%. The growth in the historic period can be attributed to enhanced traceability and transparency, prevention of food fraud and contamination, consumer demand for transparency, supply chain efficiency, reduction of food waste.
The blockchain in agriculture and food supply chain market size is expected to see exponential growth in the next few years. It will grow to $2.71 billion in 2028 at a compound annual growth rate (CAGR) of 46.7%. The growth in the forecast period can be attributed to enhanced food safety measures, stakeholder education and awareness, focus on sustainable and ethical practices, resilience against disruptions, customs and regulatory compliance. Major trends in the forecast period include enhanced traceability and transparency, food safety and quality assurance, smart contracts for automation, sustainable and ethical sourcing, supply chain optimization, increased adoption of blockchain.
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Segmentation & Regional Insights
The blockchain in agriculture and food supply chain market covered in this report is segmented –
1) By Type: Public Blockchain, Private Blockchain, Consortium/Hybrid Blockchain
2) By Stakeholder: Growers, Food Manufacturers/Processors, Retailers
3) By Application: Product Traceability, Tracking, And Visibility, Payment And Settlement, Smart Contracts, Governance, Risk And Compliance Management
North America was the largest region in the blockchain in agriculture and food supply chain market in 2023. The regions covered in the blockchain in agriculture and food supply chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The blockchain in agriculture and food supply chain market was supported by the increased demand for small and medium enterprises in the blockchain in agriculture and food supply chain market. This is mainly due to larger businesses investing heavily in developing their existing solutions, while new businesses are producing exclusive solutions in line with the needs of their national and regional markets. According to The StartupLab 2021 report, an India-based venture capital firm, the Agritech sector in India is expanding at a rate of 25% annually, supported by rising digitization, government efforts, and investor interest. For instance, Agridigital is an Australian startup that uses blockchain to support the Australian grains industry. It helps to track and manage grains as they move throughout the value chain. Thus, the rise in small and medium enterprises is expected to drive the blockchain in agriculture and food supply chain market during the forecast period.
Key Industry Players
Major companies operating in the blockchain in agriculture and food supply chain market report are International Business Machines Corporation, Microsoft Corporation, SAP SE, Ambrosus AG, Arc-net, OriginTrail Ltd., Rip. io, Provenance Ltd., Chainvine Limited (ChainVine), AgriDigital Pty Ltd., Riiot Labs SA, VeChain Foundation, BlockGrain, AgriChain Pty Ltd., TE-FOOD International GmbH, Agri 10x LLC, AgriLedger Ltd., AgroChain Ltd., Bext Holdings Inc., Cargill Incorporated, CropIn Technology Solutions Pvt. Ltd., Deere & Company, Eka Software Solutions Pvt. Ltd., Emerson Electric Co., FoodLogiQ LLC, Full Profile Pty Ltd, GrainChain Inc., Kisan Network, Modi Infosol Pvt. Ltd., Nestlé S. A., Ripe Technology Inc., The Seam LLC, Topl LLC, Trace Genomics Inc., Unilever PLC, Viant Technology LLC, Walmart Inc., Yara International ASA, Zume Inc.
The blockchain in agriculture and food supply chain market report table of contents includes:
1. Executive Summary
- Blockchain In Agriculture And Food Supply Chain Market Characteristics
- Blockchain In Agriculture And Food Supply Chain Market Trends And Strategies
- Blockchain In Agriculture And Food Supply Chain Market – Macro Economic Scenario
- Global Blockchain In Agriculture And Food Supply Chain Market Size and Growth
- Blockchain In Agriculture And Food Supply Chain Market Segmentation
- Blockchain In Agriculture And Food Supply Chain Market Regional And Country Analysis
……………
- Key Mergers And Acquisitions In The Blockchain In Agriculture And Food Supply Chain Market
- Blockchain In Agriculture And Food Supply Chain Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Blockchain In Agriculture And Food Supply Chain Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Blockchain In Agriculture And Food Supply Chain Market, Segmentation By Stakeholeder, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Blockchain In Agriculture And Food Supply Chain Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: International Business Machines Corporation Financial Performance
Table 75: Microsoft Corporation Financial Performance
Table 76: SAP SE Financial Performance
Table 77: Ambrosus AG Financial Performance
Table 78: Arc-net Financial Performance
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