Global Blockchain In Agriculture And Food Supply Chain Market Trends 2024, Forecast To 2033
15 Feb, 2024
The blockchain in agriculture and food supply chain market has seen exponential growth, escalating from $0.4 billion in 2023 to $0.59 billion in 2024, marked by a compound annual growth rate (CAGR) of 46.4%. Historical growth is attributed to enhanced traceability, prevention of food fraud and contamination, consumer demand for transparency, supply chain efficiency, and food waste reduction. Forecasts suggest continued exponential growth to $2.71 billion in 2028, driven by enhanced food safety measures, stakeholder education, sustainable and ethical practices, resilience against disruptions, and regulatory compliance. Noteworthy trends include enhanced traceability, food safety assurance, smart contracts for automation, and increased adoption of blockchain.
Global Blockchain In Agriculture And Food Supply Chain Market Key Driver
The blockchain in agriculture and food supply chain market is driven by the rise in small and medium enterprises. Larger businesses invest heavily in existing solutions, while new businesses develop exclusive solutions tailored to regional and national market needs. The Agritech sector in India, with a 25% annual growth rate, exemplifies the rising demand for blockchain solutions in agriculture.
Get A Free Sample Of The Global Blockchain In Agriculture And Food Supply Chain Market ReportGlobal Blockchain In Agriculture And Food Supply Chain Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
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
Major Blockchain In Agriculture And Food Supply Chain Industry Players
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.
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Blockchain In Agriculture And Food Supply Chain Market Overview
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.
Blockchain In Agriculture And Food Supply Chain Global Market Report 2023 provides data on the global blockchain in agriculture and food supply chain market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The blockchain in agriculture and food supply chain market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.