Blockchain in Agriculture and Food Supply Chain Market to Hit Over USD 5059.78 Million by 2030

Blockchain in Agriculture and Food Supply Chain Market Information

Blockchain in Agriculture and Food Supply Chain Market Segment

Blockchain in Agriculture and Food Supply Chain Market Segment

The global blockchain in agriculture and food supply chain market is estimated to reach over USD 5059.78 million by 2030, growing at a CAGR of 43.25%

Key blockchain players in the agriculture and food supply chain market: IBM, Microsoft, Arc-Net, Ambrosus, Sap Se, Origintrail, Provenance, Agridigital, Abaco Group, Ripe.Io »

— Insightace analysis

NEW JERSEY, NJ, USA, Nov. 11, 2022 /EINPresswire.com/ — Insight Analytics Pvt. announces the release of a Market Assessment Report on the “Global Blockchain in Agriculture and Food Supply Chain Market (By Type (Public, Private, and Hybrid/Consortium), Applications (Traceability of products, tracking and visibility, payment and settlement, smart contract, governance, risk and compliance management), organization size (small and medium enterprises and large enterprises), stakeholders (producers, manufacturers/processors Food and Retail) and Supplier (Application Solution Providers, Middleware Providers and Infrastructure Providers) – Market Outlook and Industry Analysis 2030″

The global blockchain market in agriculture and food supply chain is estimated to reach over USD 5059.78 million by 2030, growing at a CAGR of 43.25% during the forecast period.

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Blockchain in the agriculture and food supply chain market required a lot of erratic bureaucracy and reliance on paper-based record keeping. Land records and other data can be securely stored on blockchain using a structured blockchain platform, protecting them from natural disasters. Blockchain technology is set to revolutionize as it provides accurate and tamper-proof statistics on farms, storage, creditworthiness and food tracking. The growth rate of agriculture and food supply chains has reached new heights due to the increasing adoption of new technologies, supply chain transparency and efforts to eliminate food fraud. food production. The growing use of blockchain technology in the agriculture industry is expected to drive the expansion of the market owing to the growing concerns over food waste. Growing customer concerns over food safety due to the COVID-19 pandemic are fueling a desire for supply chain transparency, which is expected to drive the agriculture and food supply chain market throughout of the forecast period. The need for blockchain in agriculture and the food supply chain will increase due to the growing demand for agricultural products and growers adopting smart farming practices. Additionally, over the projection period, openings for the market are expected to be driven by federal programs to use contemporary methods in agriculture, the growing appeal of blockchain among merchants, and increased funding. and the development of the agricultural and food blockchain.

Key Blockchain Players in Agriculture and Food Supply Chain Market:
IBM
Microsoft
Arc Net
Ambrose
Sap Se
original trail
Origin
Agridigital
Abaco Group
Ripe.Io
Vehicle chain
Chainvine
Agricultural chain
skuchain
Bext360
Fce Group AG
Piece 22
Te-Food International Gmbh
Modum.Io Ag
Long live
Earvesthub Inc.
Grain chain
Load chain
Farm2kitchen Foods Pvt. ltd.
Authentic
Agri 10x

Market dynamics:
Drivers-
The blockchain industry is expected to grow as the demand for supply chain transparency increases. Another factor that is expected to contribute to the expansion of the market is the growing use of blockchain technology in agriculture and food supply chain analytics to increase supply chain transparency and reduce fraud. to food production. One of the major elements that is expected to fuel the expansion of the market is the growing use of cutting-edge technologies such as blockchain and analytics that are enhancing the ability of agribusiness companies to make decisions. Another factor that is expected to fuel the growth of the market is the predicted increase in the use of blockchain technology in the agricultural sector owing to growing concerns over food waste.

Challenges:
Blockchain in agriculture and food supply chain market is expected to face challenges during the forecast period including regulatory ambiguity, lack of industry standards and poor data management among the producers. A limited technological base would hamper market expansion, especially in developing countries. Lack of qualified personnel or skilled expertise will also severely hamper market expansion.

Regional trends:
The North American blockchain in agriculture and food supply chain market is expected to register a large market share in terms of revenue and is expected to grow at a high CAGR shortly. Due to legislative attempts to invest in new and sophisticated technologies, technically advanced adoption, supportive government and infrastructure, existence of companies offering blockchain technology solutions, such as Microsoft and IBM, and retailers’ awareness of the possibilities of blockchain technology.
In addition, Europe held a large market share in the agriculture and food supply chain due to its developed economy and growing adoption of its products. This can be attributed to increased spending on programs that deal with transactions and increased consumption of livestock-derived goods.

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RECENT DEVELOPMENTS:
• In June 2020, a new cross-industry partnership was announced between IBM and Sjmatbedriftene, the Norwegian Seafood Association, to use blockchain technology and share supply chain data across the industry Norwegian Seafood Association to provide consumers around the world with safer and higher quality seafood. A high-quality, fully tradable product would be made possible through blockchain technology.
• In April 2020: A partnership between Nestlé and IBM will allow Nestlé to use the IBM Food Trust enterprise blockchain to track the origin of its coffee brand Zoaeas. By scanning the QR code on Zoaeas coffee, customers can find out where their coffee beans come from. Farmer information, harvest dates, transaction certificates for individual shipments, and roasting schedules will all be tracked through the IBM Food Trust enterprise blockchain.

Segmentation of blockchain in agriculture and food supply chain market-
By type:
• Audience
• Private
• Hybrid/Consortium

By stakeholders:
• Producers
• Food manufacturers/processors
• Retailers

By Providers:
• Application providers
• Middleware providers
• Infrastructure providers

By organization size:
• Small and medium enterprises
• Large companies

Per application:
• Traceability, monitoring and visibility of products
• Payment and settlement
• Smart contract
• Governance, risk and compliance management

By region-
North America-
• United States
• Canada
• Mexico

Europe-
• Germany
• Great Britain
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia-Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East and Africa-
• GCC countries
• South Africa
• Rest of the Middle East and Africa

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Priyanka Tilekar
Insightace Analytics Pvt. ltd.
+1 551-226-6109
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