Press release
Blockchain In Agriculture And Food Supply Chain Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Blockchain In Agriculture And Food Supply Chain Market
The Business Research Company offers in-depth market insights through Blockchain In Agriculture And Food Supply Chain Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
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
Major Driver - Growing Role Of Small And Medium Enterprises In Driving The Blockchain In Agriculture And Food Supply Chain Market
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.
Competitive Landscape:
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.
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Top Trend - Blockchain With IOT Emerges As A Trend In Agriculture And Food Supply Chain Market
The use of blockchain with IoT is an emerging trend followed by companies in the blockchain in agriculture and food supply chain market. Companies are using blockchain to secure data in IoT devices. IoT involves a system of devices that can collect, transfer, and store data over a wireless network. The use of blockchain with IoT devices enables smart devices to exchange data and other financial transactions in a scalable, private, and reliable manner. Blockchain technology with IoT further supports businesses to share and access data without the need for central control and management. For instance, in February 2022, Vodafone Group plc, a UK-based multinational telecommunications company, introduced Digital Asset Broker (DAB) platform, a blockchain-based trading platform for IoT devices and sensors. The new Digital Asset Broker (DAB) technology, which is purportedly designed to promote the economy of things, enables verified connected objects to transact securely without human oversight but under human (the "owner") control by creating individualized digital identities for using payment technologies and mobile SIM security to interact and transact with other devices.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Blockchain In Agriculture And Food Supply Chain Market Characteristics
3. Blockchain In Agriculture And Food Supply Chain Market Trends And Strategies
4. Blockchain In Agriculture And Food Supply Chain Market - Macro Economic Scenario
5. Blockchain In Agriculture And Food Supply Chain Market Size And Growth
…..
27. Blockchain In Agriculture And Food Supply Chain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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