Global Blockchain In Agriculture And Food Supply Chain Market Overview And Prospects

December 24, 2021December 24, 2021 by The Business Research Company

Learn about the global blockchain in agriculture and food supply chain market through The Business Research Company, which provides information on blockchain in agriculture and food supply chain market size, blockchain in agriculture and food supply chain market drivers and restraints, blockchain in agriculture and food supply chain market players, the COVID-19 impact on the blockchain in agriculture and food supply chain market, and more.

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The global blockchain in agriculture and food supply chain market is expected to grow from $128.87 million in 2020 to $189.48 million in 2021 at a compound annual growth rate (CAGR) of 47%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $886.18 million in 2025 at a CAGR of 47.1%.

Increased demand for small and medium enterprises in blockchain in agriculture and food supply chain market is expected to drive innovation in blockchain in agriculture and food supply chain manufacturing, thus driving the market during the forecast period.

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The blockchain in agriculture and food supply chain market consists of sales of blockchain services in the agriculture and food supply chain by entities (organizations, sole traders and partnerships) that provide blockchain services to the agriculture and food supply chain. Blockchain technology enables the traceability of information in the food supply chain and thus helps improve food safety. It also provides a secure way of storing and managing data, which facilitates the development and use of data-driven innovations for smart farming and smart index-based agriculture insurance.

Global blockchain in agriculture and food supply chain market segments include:

By Type: Public Blockchain, Private Blockchain, Consortium/Hybrid Blockchain

By Stakeholder: Growers, Food Manufacturers/Processors, Retailers

By Application: Product Traceability, Tracking, And Visibility, Payment And Settlement, Smart Contracts, Governance, Risk And Compliance Management

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the blockchain in agriculture and food supply chain market in 2020.

The use of blockchain with IoT is an emerging trend followed by companies in the blockchain in agriculture and food supply chain market. Companies are using blockchain to secure data in IoT devices. IoT involves a system of devices that can collect, transfer, and store data over a wireless network. The use of blockchain with IoT devices enables smart devices to exchange data and other financial transactions in a scalable, private, and reliable manner. Blockchain technology with IoT further supports businesses to share and access data without the need for central control and management.

TBRC’s blockchain in agriculture and food supply chain market report covers:

Major Market Players: IBM, Microsoft, SAP-SE, Ambrosus, Arc-net, OriginTrail, Rip.io, Provenance, ChainVine, AgriDigital.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Blockchain In Agriculture And Food Supply Chain Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides blockchain in agriculture and food supply chain market overviews, analyzes and forecasts market size, share, blockchain in agriculture and food supply chain market players, blockchain in agriculture and food supply chain market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s blockchain in agriculture and food supply chain market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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