Food Traceability and Blockchain Solutions Market to hit US$97.17 billion by 2032: Key Developments, Industry Insights, Future Growth, M & A | TraceX Technologies, IBM Food Trust, VeChain, Tracefood, FoodLogiQ

food traceability & blockchain solutions market reached US$37.37 billion in 2023, rising to US$41.56 billion in 2024 and is expected to reach US$97.17 billion by 2032, growing at a CAGR of 11.2% from 2025 to 2032.

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United States: Recent Industry Developments

✅ October 2025: Walmart expanded blockchain-based traceability across fresh produce suppliers to boost real-time transparency and food safety.

✅ September 2025: IBM Food Trust partnered with major agricultural firms to integrate blockchain in livestock and dairy supply chains.

✅ August 2025: USDA initiated pilot programs using blockchain for pathogen tracking and contamination-source mapping in food recalls.

Japan: Recent Industry Developments

✅ October 2025: Mitsubishi Corporation launched blockchain-enabled seafood traceability to combat supply-chain fraud and sustainability concerns.

✅ September 2025: Japanese retailers adopted QR-based blockchain traceability systems offering customers full transparency from farm to shelf.

✅ August 2025: Government-industry collaborations accelerated blockchain adoption in rice and tea supply chains to ensure origin authenticity.

Our Strategic Insights

✅ North America dominates the global food traceability & blockchain solutions market, accounting for 38.45% of total revenue in 2024.

✅ By component, software remains the leading segment, securing the largest revenue share of 42.34% in 2024.

Key Players:

IBM Food Trust, VeChain, Tracefood, TraceX Technologies, Microsoft, TE-FOOD, Wholechain, FoodLogiQ, OpsSmart, Decapolis

Key industry Development:

In November 2024, Intertek introduced HoneyTrace, a blockchain-based platform that tracks honey from hive to jar to prevent honey fraud and ensure compliance with EU origin rules.

In September 2023, the IFT Global Food Traceability Center released the Traceability Driver, an open-source tool that standardizes traceability data and improves interoperability across the food supply chain. Tested by Koltiva, it supports EPCIS-based standards and can be used across multiple commodities.

Also in September 2023, iFoodDS and IBM launched iFoodDS Trace Exchange integrated with IBM Food Trust to help companies meet FDA FSMA 204 requirements. The platform enhances traceability, enables secure data sharing, and speeds removal of potentially contaminated food from the supply chain.

Growth Forecast Projection:

The Global Food Traceability and Blockchain Solutions Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Food Traceability and Blockchain Solutions Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segmentation:

By Component (Software, Hardware, Services), By Technology (Radio Frequency Identification, Barcodes, Infrared, Biometrics, Global Positioning Systems, Others), By Deployment Mode (Cloud-based, On-premise, Hybrid), By Application (Meat & Livestock, Seafood, Fruits & Vegetables, Dairy, Others)

Regional Analysis for Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Food Traceability and Blockchain Solutions producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Food Traceability and Blockchain Solutions revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ's

Q1: What is the current size of the Food Traceability and Blockchain Solutions Market?

A: The Food Traceability and Blockchain Solutions Market stood at US$37.37 billion in 2023 and is set to experience remarkable growth, reaching US$97.17 billion by 2032

Q2: How fast is the Food Traceability and Blockchain Solutions Market growing?

A: The Market is on an impressive growth trajectory, expected to expand at a CAGR of 11.2% from 2025 to 2032

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