With CAGR of 7.00% , Blockchain in Agriculture and Food Supply Chain Market is set to Witness Huge Demand by 2028

Market Analysis and Insights : Global Blockchain in Agriculture and Food Supply Chain Market
Blockchain in agriculture and food supply chain market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to grow at a CAGR of 7.00% in the above-mentioned forecast period. Rising concerns for food safety among consumers demanding transparency in the supply chain drives the blockchain in agriculture and food supply chain market.

Blockchain is a type of chain which is deployed using technology that provides a shared ledger or distributed ledger technology (DLT). This ledger generally contains information and details of records and transaction in block structure. These blocks are tamper-proof and immutable which means that the data in these blocks are not permitted for altering or modifying. This security feature makes blockchain useful for the numerous network such as consumers, farmers, retailers among others to record and share information with security, transparency, and speed.

Rise in popularity of blockchain among retailers/distributors for better supervision & data management is a vital factor escalating the market growth, also increasing growth in online trading and tracking systems enhancing the need for blockchain solutions during COVID-19, increasing food wastage and post-harvest losses, rising adoption of emerging technologies such as blockchain and analytics technologies, rising deployment of blockchain technology for agriculture and food supply chain analysis in order to achieve transparency in supply chain and to reduce food production frauds are the major factors among others driving the blockchain in agriculture and food supply chain market briskly. Moreover, rise in funding and investments in agri-food blockchain, growing smart agricultural systems and increasing government initiatives to support modern technique will further create new opportunities for the blockchain in agriculture and food supply chain market in the forecast period of 2021- 2028.

However, increasing limited availability of technical skillset for implementing and managing blockchain applications and increasing uncertainty in regulations and standards are the major factors among others acting as restraints, while increasing data mismanagement among growers during precision farming and increasing in the lack of standardization of data will further challenge the blockchain in agriculture and food supply chain market in the forecast period.This blockchain in agriculture and food supply chain market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on blockchain in agriculture and food supply chain market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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