Blockchain In Agriculture And Food Supply Chain Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Blockchain In Agriculture And Food Supply Chain Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Blockchain In Agriculture And Food Supply Chain Market?
The market for blockchain in agriculture and food supply chain has seen an impressive expansion in its size over the past few years. It is forecasted to bolster from $0.58 billion in 2024 to $0.84 billion in 2025, marking a compound annual growth rate (CAGR) of 45.2%. Factors contributing to the growth during the historical period include improved traceability and transparency, avoidance of food fraud and contamination, consumer's desire for transparency, effectiveness of supply chain, and minimization of food waste.

Expectations are high for significant expansion in the market for blockchain in agriculture and food supply chain within the next few years. Projections suggest a growth to $4.04 billion by 2029, with a compound annual growth rate (CAGR) of 48.3%. This considerable increase during the forecast phase is likely due to heightened food safety standards, heightened awareness and education among stakeholders, a focus on sustainability and ethical guidelines, robustness against disruptions, and adherence to customs and regulatory norms. In the predicted period, the main trends include better traceability and transparency, assurance of food safety and quality, use of smart contracts for automation, sourcing that is sustainable and ethical, optimization of the supply chain, and a greater acceptance of blockchain.

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What Are the Different Blockchain In Agriculture And Food Supply Chain Market Segments?
The blockchain in agriculture and food supply chain market covered in this report is segmented -

1) By Type: Public Blockchain, Private Blockchain, Consortium Or Hybrid Blockchain
2) By Stakeholder: Growers, Food Manufacturers Or Processors, Retailers
3) By Application: Product Traceability, Tracking, And Visibility, Payment And Settlement, Smart Contracts, Governance, Risk And Compliance Management

Subsegments:
1) By Public Blockchain: Fully Decentralized Public Blockchain, Open Source Blockchain Solutions
2) By Private Blockchain: Permissioned Private Blockchain, Centralized Blockchain Solutions
3) By Consortium Or Hybrid Blockchain: Consortium Blockchains, Hybrid Blockchains

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What Are the Primary Drivers Shaping the Blockchain In Agriculture And Food Supply Chain Market?
The surge in demand from small and medium enterprises has been a significant contributor to the growth of the blockchain in the agriculture and food supply chain market. This can be largely attributed to the substantial investments by large companies to evolve their existing solutions. Concurrently, new companies are developing unique solutions tailored to meet the requirements of their local and regional markets. For example, the UK's Department for Business and Trade reported that small enterprises grew from 217 in 2022 to 223 in 2023. Similarly, medium-sized enterprises also experienced slight growth, from 36 in 2020 to 37 in 2023. The continual increase in small and medium enterprises is consequently predicted to significantly influence the progression of the blockchain in agriculture and food supply chain market throughout the forecast period.

Which Companies Are Leading in the Blockchain In Agriculture And Food Supply Chain Market?
Major companies operating in the blockchain in agriculture and food supply chain market include 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.

What Are the Major Trends Shaping the Blockchain In Agriculture And Food Supply Chain Market?
The trend of integrating blockchain with the Internet of Things (IoT) is growing amongst companies operating in the blockchain in agriculture and food supply chain sector. These businesses are leveraging blockchain technology to ensure the security of data within IoT devices. IoT encompasses a network of devices capable of gathering, transmitting, and preserving data via a wireless network. By incorporating blockchain with these IoT devices, smart devices are able to communicate data as well as carry out financial transactions in a scalable, confidential, and trustworthy manner. The combination of blockchain technology and IoT also aids businesses in accessing and sharing data without requiring a centralized control and management system. As an example, in February 2022, Vodafone Group plc, a multinational telecommunications corporation based in the UK, launched a blockchain-backed trading platform for IoT devices and sensors known as the Digital Asset Broker (DAB). This new technology is reportedly aimed at fostering the economy of things, and it allows verified connected objects to execute secure transactions with minimal human supervision, but still under human (the 'owner') control. It does this by establishing individual digital identities that interact and transact with other devices using mobile SIM security and payment technologies.

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What Are the Top Revenue-Generating Geographies in the Blockchain In Agriculture And Food Supply Chain Market?
North America was the largest region in the blockchain in agriculture and food supply chain market in 2024. The regions covered in the blockchain in agriculture and food supply chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Blockchain In Agriculture And Food Supply Chain Market?
2. What is the CAGR expected in the Blockchain In Agriculture And Food Supply Chain Market?
3. What Are the Key Innovations Transforming the Blockchain In Agriculture And Food Supply Chain Industry?
4. Which Region Is Leading the Blockchain In Agriculture And Food Supply Chain Market?

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