Agriculture Supply Chain Management Market Size Garner USD 954 Billion by 2032, Growing with 10.1% of CAGR

As per the report, the global agriculture supply chain management industry was estimated at $0.78 billion in 2021, and is set to reach $2.1 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031.

The global agriculture supply chain management market is projected to hold a suitable growth during the forecast period due to the increased logistics infrastructure development across the globe. In addition, the key players operating in the industry has been offering effective supply chain services to the customers which leads to the growth of the market.

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In addition, by component, the solutions segment dominated the global agriculture supply chain management market in 2022, in terms of revenue. By solution type, the fleet management solutions segment dominated the global market in 2022, in terms of revenue. By deployment model, the on-demand/cloud-based segment dominated the global market in 2022, in terms of revenue. Presently, Asia-Pacific is the highest revenue contributor and is expected to lead the market during the forecast period, followed by Europe.

The agriculture supply chain management comprises agri-based organizations, responsible for the production and distribution of vegetable/fruits/cereals/pulses or animal-based products. The typical agriculture supply chain management involves three steps, such as from farmers to intermediate silos, from silos to transformation plants, and from transformation plants to clients. However, the supply chain for different agricultural products is full of challenges, such as smallholders/marginal dominance of farmers, supply chain fragmentation, lack of economies of scale, low processing/value-added levels, and insufficient marketing infrastructure.

However, the use of upcoming technologies, such as blockchain can solve the challenges in agriculture supply chain management, thus improving the overall efficiency. Also, software vendors are collaborating with RFID providers to provide integrated solutions to increase operational efficiency by reducing manual inputs and broadcasting signal information, which leads to adoption of transportation management software (TMS) in agriculture supply chain management.

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Covid-19 scenario:

1. The COVID-19 pandemic severely impacted the growth of the global agriculture supply chain management market with supply chain disruptions in the agriculture sector caused as a result of labor shortage, inefficient cold chain facilities, transport restrictions, fluctuations in costs, and lack of collectors.

2. In the post-pandemic period, firms are predicted to focus on end-to-end stock visibility, complex supplier monitoring, and process automation. This will boost the global market trends.

On basis of the user type, the large enterprises segment contributed to the highest market share in 2021, accounting for more than three-fifths of the global agriculture supply chain management market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The segmental surge over the forecast timespan can be credited to the heavy engagement of customers towards large-scale enterprises to keep the data handy and secured for assessing customer demand. However, the small & medium-sized enterprises segment is anticipated to record the fastest CAGR of 10.7% over the forecast period. The growth of the segment during the forecast period can be attributed to the shifting focus of SMEs toward customer satisfaction and growth in the adoption of supply chain management tools to obtain insights by analyzing real-time data across SMEs.

Based on the component, the hardware segment contributed to the highest market share in 2021, accounting for nearly three-fourths of the global agriculture SCM market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The growth of the segment over the forecast period can be attributed to the development of advanced hardware components to be used in supply chain management infrastructure. In addition, the features offered by these hardware systems create an increase in demand for advanced hardware components, which eventually leads to the growth of the segment. However, the services segment is predicted to register the fastest CAGR of nearly 14.5% from 2022 to 2031. The segmental growth over the next ten years can be attributed to the adoption of supply chain management software and supply chain management services in the farming sector.

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In terms of the deployment model, the on-premise segment contributed to the highest market share in 2021, accounting for nearly three-fifths of the global agriculture supply chain management market share. Reportedly, this segment is predicted to contribute majorly toward an overall market share in 2031. The expansion of this segment over the forecast timeline is due to the ability of on-premise tools in collecting, displaying, and organizing key data from customer communication using e-mails, calls, and chatbots by using the firm's own IT infrastructure. However, the on-demand/cloud-based segment is predicted to register the highest CAGR of nearly 10.9% from 2022 to 2031. The segmental surge can be due to the rise in acceptance of cloud-based supply chain management solutions in mid-sized and small enterprises.

By Region, Asia-Pacific contributed notably in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly two-fifths of the global agriculture supply chain management market in 2021. The growth of the market in the region over the forecast timespan can be credited to the strong economic growth along with the ongoing development in the services sector driving business enterprises to invest heavily in agriculture supply chain management software to sustain their growth and improve productivity. However, the LAMEA region is anticipated to record the fastest CAGR of 13.3% from 2022 to 2031. The growth of the regional market over the forecast period can be attributed to increasing demand for agricultural products due to an increase in domestic supply and the need for better management of supply chain processes in the region. The report also analyzes other regions such as Europe and North America.

Major market players

Agri Value Chain
AgriDigital
Ambrosus
Bext360
ChainPoint
eHarvestHub
Eka
FCE Group AG
Geora Ltd.
GrainChain, Inc.
IBM
Intellync
KPMG
Proagrica
SAP SE
Sustainable Agriculture Initiative Platform
Trellis Ltd.

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