Blockchain in Agriculture Market will experience a noticeable growth during the forecast period 2021-2027 | SAP SE, Ambrosus, ACR-NET, Microsoft, and E-FOOD International GmbH.

The latest research report on Blockchain in Agriculture market attempts to uncover the growth model of this domain during 2021-2027, in relation to the key growth drivers, challenges, as well the upcoming opportunities and associated risks. Moreover, it validates the values being presented by comparing the historical data and the current business landscape.

Blockchain has the potential to significantly influence the way agricultural business is done. It helps to increase trust between parties, facilitates information sharing in the supply chain, and significantly reduces agricultural transaction costs. Blockchain is an emerging technology of distributed database, which records all the transactions and digital events executed and shared between multiple contributing parties.

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The global blockchain in agriculture market is divided into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa.

Drivers:

Increase in popularity of blockchain among retailers/distributors for better supervision and data management is expected to propel growth of the global blockchain in agriculture market over the forecast period. For instance, in June 2020, Atea, IBM, and Sjømatbedriftene announced a new cross-industry collaboration to use blockchain technology to share supply chain data in Norway's seafood industry to provide safer, better seafood to consumers worldwide.

Moreover, increasing food wastage and post-harvest losses, growing concerns for food safety among consumers, and the need for blockchain solutions during COVID-19 is expected to augment the growth of the global blockchain in agriculture market.

Restraint:

Lack of skilled professionals for implementation and management of blockchain applications and uncertainty in regulations and standards is expected to hamper the global blockchain in agriculture market growth.

Opportunities:

Favorable government initiatives to support modern agricultural techniques are expected to offer lucrative growth opportunities for players in the market.

Regional Insights:

North America is expected to witness robust growth in the global blockchain in agriculture market owing to the increasing popularity of blockchain among retailers/distributors and the presence of blockchain technology solution providers in the region. For instance, in April 2019, Albertsons Companies, one of the largest food and drug retailers in the U.S., joined IBM's blockchain-based Food Trust network to track romaine lettuce from farm to store.

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Apart from the hottest technological advances in the Global Blockchain in Agriculture market, it brings to light the plans of dominant players in the industry

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Competitive Section:.

Key players involved in the global blockchain in agriculture market are SAP SE, Ambrosus, ACR-NET, Microsoft, and E-FOOD International GmbH.

In April 2020, Nestle announced that it will expand its use of blockchain technology, through its membership with the IBM Food Trust Blockchain Initiative, to the company’s luxury coffee brand Zoégas.

In May 2019, Microsoft launched a fully managed blockchain service, called Azure blockchain service, which gives users the ability to grow and operate blockchain networks at scale in Azure.

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