Block Chain In Agriculture And Food Supply Chain Market
Block Chain In Agriculture & Food Supply Chain Market Forecasts to 2030 - Global Analysis By Type (Public Blockchain, Private Blockchain and Consortium Blockchain), Organization Size, Provider, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $1.29 BN |
|
Projected Year Value (2030) |
US $5.84 BN |
|
CAGR (2024 - 2030) |
49.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Block Chain In Agriculture & Food Supply Chain Market is accounted for $1.29 billion in 2024 and is expected to reach $5.84 billion by 2030 growing at a CAGR of 49.5% during the forecast period. Blockchain in agriculture and the food supply chain refers to the use of blockchain technology to enhance transparency, traceability, and efficiency. It allows all participants, from farmers to consumers, to securely record transactions and track the journey of food products through the supply chain. This technology ensures data integrity, reduces fraud, and minimizes errors. By providing a tamper-proof record of each step, blockchain helps verify the authenticity and quality of food, improving safety and sustainability.
According to NASSCOM’s 2019 report, India has more than 450 agri-tech startups, growing at a rate of 25% annually.
Market Dynamics:
Driver:
Increasing consumer demand for transparency and traceability
Increasing consumer demand for transparency and traceability provides a reliable, immutable ledger for tracking product origins and journeys. Blockchain technology meets this demand by enabling consumers to verify the authenticity and safety of their food, thereby enhancing trust. This demand encourages producers and retailers to adopt blockchain for competitive differentiation, regulatory compliance, and to build brand loyalty, ultimately driving widespread adoption and integration of blockchain in the industry.
Restraint:
Lack of standardization
Lack of standardization in blockchain for agriculture and food supply chains arises from the diverse range of blockchain platforms and technologies, each with its protocols and interfaces. This inconsistency hinders interoperability, making it challenging for different systems to communicate and share data effectively. Consequently, businesses face difficulties in integrating blockchain solutions seamlessly, leading to inefficiencies and increased costs. This fragmentation ultimately hampers market growth by creating barriers to entry and operational complexities.
Opportunity:
Improved crisis management
Improved crisis management enhances the speed and accuracy of product recalls, mitigating the impact of contamination and fraud. Real-time, immutable data tracking allows for swift identification of affected batches, ensuring consumer safety and reducing financial losses. This increased reliability and trust in the supply chain foster consumer confidence and regulatory compliance, driving adoption of blockchain technology among stakeholders seeking to minimize risks and maintain market stability.
Threat:
Complexity and scalability issues
Blockchain in agriculture and food supply chains faces complexity and scalability issues due to the need for seamless integration with existing systems, handling vast amounts of data, and ensuring compatibility across various platforms. The complexity deters adoption due to high technical expertise requirements and costs, while scalability problems limit the technology's effectiveness in large, global supply chains, eventually hampering market growth by preventing widespread, efficient deployment.
Covid-19 Impact
The covid-19 pandemic accelerated blockchain adoption in agriculture and food supply chains, enhancing transparency and traceability. It highlighted vulnerabilities in traditional supply chains, prompting increased interest in blockchain's ability to ensure food safety, authenticity, and efficiency. Despite initial disruptions, blockchain technologies facilitated remote monitoring, secure transactions, and real-time data sharing, fostering resilience and trust among stakeholders. This shift underscores ongoing digital transformation efforts in the agri-food sector amidst global health crises.
The smart contracts segment is expected to be the largest during the forecast period
The smart contracts segment is estimated to have a lucrative growth. Smart contracts in the agriculture and food supply chain leverage blockchain technology to enhance transparency, traceability, and efficiency. They automate transactions and agreements between parties, ensuring accuracy and reducing costs associated with manual processes. By enabling secure, immutable records of transactions and product provenance, smart contracts help mitigate fraud, improve food safety, and streamline logistics, ultimately fostering trust and sustainability across the agricultural and food supply chain.
The food processors & manufacturers segment is expected to have the highest CAGR during the forecast period
The food processors & manufacturers segment is anticipated to witness the highest CAGR growth during the forecast period. In the agriculture and food supply chain market, blockchain technology enhances transparency and traceability by securely recording transactions across the entire process. Food processors and manufacturers benefit from blockchain's ability to verify product origins, improve food safety protocols, and streamline supply chain operations. This technology ensures that consumers receive accurate information about the products they purchase, fostering trust and potentially reducing food fraud and waste.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to increasing adoption of technology to enhance transparency and traceability. Blockchain solutions offer benefits such as improved food safety, efficient supply chain management, and better quality control. Governments and enterprises in countries like China, India, and Japan are investing in blockchain to address challenges like counterfeit products and inefficient logistics. This technology is expected to revolutionize the industry by providing reliable data sharing, reducing fraud, and ensuring authenticity across the agricultural and food supply chains in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to robust logistics networks, stringent regulatory standards, and a growing emphasis on sustainability. Key trends include increased adoption of technology for tracking and tracing, demand for transparency from consumers, and efforts to reduce food waste. Major players focus on enhancing efficiency through automation and digitalization. The market continues to evolve with innovations in cold chain logistics, packaging solutions, and sustainable farming practices to meet growing demands and regulatory requirements.
Key players in the market
Some of the key players profiled in the Block Chain In Agriculture & Food Supply Chain Market include Walmart, Carrefour, Nestle, Microsoft, SAP SE, Ambrosus, AgriDigital, BlockGrain, OriginTrail, FCE Group AG, Bext360, Modum, Dole and VeChain.
Key Developments:
In April 2024, IBM’s adoption of blockchain technology within supply chain management heralds a significant departure in the landscape of global supply chains. This strategic move capitalizes on the inherent capabilities of blockchain—decentralization, transparency, security, and immutability—to confront the prevalent challenges in supply chain operations.
In November 2021, Walmart announced a Blockchain partnership with IBM and several other partners to implement blockchain technology for food traceability and supply chain transparency. This initiative aims to improve food safety by enabling faster traceability of food products from farm to shelf, thereby enhancing consumer confidence and reducing food waste.
Types Covered:
• Public Blockchain
• Private Blockchain
• Consortium Blockchain
Organization Sizes Covered:
• Small & Medium Size Enterprises
• Large Enterprises
Providers Covered:
• Application Providers
• Middleware Providers
• Infrastructure Providers
• Other Providers
Applications Covered:
• Supply Chain Traceability
• Quality Assurance
• Inventory Management
• Smart Contracts
• Payment & Settlement
• Consumer Engagement & Transparency
• Other Applications
End Users Covered:
• Farmers
• Food Processors & Manufacturers
• Wholesalers & Distributors
• Regulatory Bodies & Certifying Agencies
• Logistics & Transportation Companies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Block Chain In Agriculture & Food Supply Chain Market, By Type
5.1 Introduction
5.2 Public Blockchain
5.3 Private Blockchain
5.4 Consortium Blockchain
6 Global Block Chain In Agriculture & Food Supply Chain Market, By Organization Size
6.1 Introduction
6.2 Small & Medium Size Enterprises
6.3 Large Enterprises
7 Global Block Chain In Agriculture & Food Supply Chain Market, By Provider
7.1 Introduction
7.2 Application Providers
7.3 Middleware Providers
7.4 Infrastructure Providers
7.5 Other Providers
8 Global Block Chain In Agriculture & Food Supply Chain Market, By Application
8.1 Introduction
8.2 Supply Chain Traceability
8.3 Quality Assurance
8.4 Inventory Management
8.5 Smart Contracts
8.6 Payment & Settlement
8.7 Consumer Engagement & Transparency
8.8 Other Applications
9 Global Block Chain In Agriculture & Food Supply Chain Market, By End User
9.1 Introduction
9.2 Farmers
9.3 Food Processors & Manufacturers
9.4 Wholesalers & Distributors
9.5 Regulatory Bodies & Certifying Agencies
9.6 Logistics & Transportation Companies
9.7 Other End Users
10 Global Block Chain In Agriculture & Food Supply Chain Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 IBM
12.2 Walmart
12.3 Carrefour
12.4 Nestle
12.5 Microsoft
12.6 SAP SE
12.7 Ambrosus
12.8 AgriDigital
12.9 BlockGrain
12.10 OriginTrail
12.11 FCE Group AG
12.12 Bext360
12.13 Modum
12.14 Dole
12.15 VeChain
List of Tables
1 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Region (2022-2030) ($MN)
2 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Type (2022-2030) ($MN)
3 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Public Blockchain (2022-2030) ($MN)
4 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Private Blockchain (2022-2030) ($MN)
5 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Consortium Blockchain (2022-2030) ($MN)
6 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Organization Size (2022-2030) ($MN)
7 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Small & Medium Size Enterprises (2022-2030) ($MN)
8 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Large Enterprises (2022-2030) ($MN)
9 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Provider (2022-2030) ($MN)
10 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Application Providers (2022-2030) ($MN)
11 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Middleware Providers (2022-2030) ($MN)
12 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Infrastructure Providers (2022-2030) ($MN)
13 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Other Providers (2022-2030) ($MN)
14 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Application (2022-2030) ($MN)
15 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Supply Chain Traceability (2022-2030) ($MN)
16 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Quality Assurance (2022-2030) ($MN)
17 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Inventory Management (2022-2030) ($MN)
18 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Smart Contracts (2022-2030) ($MN)
19 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Payment & Settlement (2022-2030) ($MN)
20 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Consumer Engagement & Transparency (2022-2030) ($MN)
21 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Other Applications (2022-2030) ($MN)
22 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By End User (2022-2030) ($MN)
23 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Farmers (2022-2030) ($MN)
24 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Food Processors & Manufacturers (2022-2030) ($MN)
25 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Wholesalers & Distributors (2022-2030) ($MN)
26 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Regulatory Bodies & Certifying Agencies (2022-2030) ($MN)
27 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Logistics & Transportation Companies (2022-2030) ($MN)
28 Global Block Chain In Agriculture & Food Supply Chain Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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