Blockchain in Agriculture Market: Market Scope and Growing Demands 2020 | Key Players: IBM, Microsoft, SAP-SE, Ambrosus, Arc-net, OriginTrail, etc.

According to the current analysis of Reports and Data, the global Blockchain in Agriculture market was valued at USD 52.36 Million in 2018 and expected to reach USD 489.36 Million by the year 2026, at a CAGR of 45.13%.

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Key participants include IBM (US), Microsoft (US), SAP-SE (Germany), Ambrosus (Switzerland), Arc-net (Ireland), OriginTrail (Slovenia), Ripe.io (US), VeChain (China), Provenance (UK), ChainVine (UK), AgriDigital (Australia), and BlockGrain (Australia).

The world faces huge challenges when it comes to proving food for the ever-growing population, specifically: challenges from climate change, floods, drought, desertification, loss of biodiversity, pests, and disease. Innovation in agriculture processes is needed to overcome some of these challenges and make agriculture attractive to and profitable for the smallholder farmers involved in feeding the world. Blockchain technology permits a highly secured record-keeping and digital transaction. This technology creates a ledger system that is secure and transparent and made available to all parties within the supply chain. Within the agricultural sector and its related products, this technology can be sued to promote the safety and prevention of food fraud and verify the origins and authenticity of farm products and agricultural inputs. All these made possible because this technology improves traceability and transparency.

In the agriculture sector, self-executing smart contracts, together with electronic payments, would be the game-changer. The part of smart contracts, especially in agricultural insurance, green bonds, and traceability, could be beneficial. Agricultural insurance built on a blockchain with critical weather incidents and related payouts drafted on a smart contract, linked to mobile wallets with weather data being provided regularly by sensors in the field and correlated by data from proximity weather stations would facilitate immediate payout in the case of a drought or flooding in the field. Many organizations such as Walmart (US)Nestlé (Switzerland) have started pilot projects with these technology solutions provided by IBM (US) to enhance fodder security, and rapid food recalls in the situation of any infection. Apart from IBM, there are other big players such as SAP-SE (Germany), Microsoft (US) and small players such as AgriDigital (Australia), Provenance (UK), and OriginTrail (Slovenia) that provide platforms and solutions for complete traceability of food products across the supply chain.

Stake Holders (Revenue, USD Million; 2016–2026)
Growers
Food Manufacturers/Processors
Retailers

Providers (Revenue, USD Million; 2016–2026)
Application and Solution Provider
Middleware Provider
Infrastructure and Protocol Provider

Organization Size (Revenue, USD Million; 2016–2026)
Large Enterprises
Small and Medium-Sized Enterprises

Application (Revenue, USD Million; 2016–2026)
Product Traceability, Tracking, and Visibility
Payment and Settlement
Smart Contract
Governance, Risk, and Compliance Management

Regional Outlook (Revenue in USD Million; 2016–2026)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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The Blockchain in Agriculture market report offers a plethora of insights which include:
1. Changing consumption patterns in the global business.
2. Historical and future progress of the global Blockchain in Agriculture market.
3. Region-wise and country-wise segmentation of the Blockchain in Agriculture market to understand the predicted revenue and growth in these areas.
4. Accurate year-on-year growth of the global Blockchain in Agriculture market.
5. Key trends, including proprietary technologies, ecological conservation, and globalization affecting the global Blockchain in Agriculture market.

The Blockchain in Agriculture market report answers key questions which include:
1. Which regulatory authorities have granted approval to the application of Blockchain in Agriculture in the industry?
2. How will the global Blockchain in Agriculture market grow over the forecast period?
3. Which end-use industry is expected to contribute the most to the overall revenue of the Blockchain in Agriculture sector by 2026?
4. What manufacturing techniques are involved in the production of the Blockchain in Agriculture?
5. Which regions are the Blockchain in Agriculture market players targeting to channelize their production portfolio?

The Blockchain in Agriculture market report considers the following timeline to predict market growth:
Historical Year: 2016 – 2019
Base Year: 2019
Estimated Year: 2020
Forecast Year: 2020 – 2027

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The report provides accurate market estimations and how these forecasts are made. It is also available for customization according to individual requirements for enhanced comprehensibility and usefulness.

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