Unlocking Opportunities in the Blockchain In Agriculture And Food Supply Chain Market: 2025-2034 Forecast Report

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What Will the Blockchain In Agriculture And Food Supply Chain Industry Market Size Be by 2025?
The market size for blockchain applications in the agriculture and food supply chain sectors has seen substantial growth recently. The market, which has a projected value of $0.58 billion in 2024, is expected to expand to $0.84 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 45.2%. Factors such as increased clarity and traceability, the need to avoid food fraud and contamination, consumer expectations for transparency, improved supply chain efficiency, and the aim to decrease food waste have contributed to this historic growth.

What's the Long-Term Growth Forecast for the Blockchain In Agriculture And Food Supply Chain Market Size Through 2029?
The market size for blockchain in agriculture and food supply chain is predicted to witness substantial growth in the coming years, expanding to $4.04 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 48.3%. The surge during the forecast period is associated with improved food safety protocols, stakeholder knowledge and consciousness, emphasis on sustainable and ethical procedures, resilience to disruptions, as well as customs and regulatory adherence. The future period will see predominant trends such as advanced traceability and transparency, food safety and quality assurance, the use of smart contracts for automation, ethical and sustainable sourcing, supply chain augmentation, and an uptick in the adoption of blockchain.

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What Are the Key Growth Drivers Fueling the Blockchain In Agriculture And Food Supply Chain Market Expansion?
The blockchain in agriculture and food supply chain market has been bolstered by growing demand from small and medium enterprises. This trend is primarily rooted in the considerable investment large companies are putting into enhancing their existing solutions. Simultaneously, budding businesses are creating customized solutions to cater to their local and national markets. As an example, in October 2023, the UK's Department for Business and Trade - a governmental department tasked with spurring economic growth, fostering innovation, guaranteeing energy security and formulating industrial strategy - reported that the count of small-scale enterprises had climbed to 217 in 2022, and carried on growing in 2023, reaching 223. For medium-scale enterprises, there was a minor increase, moving from 36 in 2020 to 37 in 2023. Hence, the upswing in small and medium enterprises promises to fuel the growth of the blockchain in agriculture and food supply chain market in the future.

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What Are the Key Trends Driving Blockchain In Agriculture And Food Supply Chain Market Growth?
The blockchain in agriculture and food supply chain market is demonstrating a trending integration with IoT, a move that is increasingly being adopted by companies. They are leveraging blockchain to safeguard data within IoT devices, which are components of systems responsible for gathering, transmitting, and preserving data over a wireless network. Merging blockchain with IoT facilitates intelligent devices to perform data and financial transaction exchanges efficiently, privately, and reliably. Moreover, it enables companies to distribute and retrieve data without requiring centralized control and management. For illustration, in February 2022, Vodafone Group plc, a multinational telecommunications corporation based in the UK, launched the Digital Asset Broker (DAB) platform. This blockchain-centric trading platform meant for IoT devices and sensors stimulates the economy of things by allowing verified connected objects to engage in secure transactions without human interference, yet under human ('owner') authority. It accomplishes this by establishing individual digital identities that utilize payment technologies and mobile SIM security to mediate and transact with other devices.

How Is the Blockchain In Agriculture And Food Supply Chain Market Segmented?
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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Which Companies Are Leading the Charge in Blockchain In Agriculture And Food Supply Chain Market Innovation?
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.

Which Regions Are Leading the Global Blockchain In Agriculture And Food Supply Chain Market in Revenue?
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

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