Emerging Trends and Innovations for the Blockchain in Agriculture and Food Supply Chain Market | projected to reach USD 5996.5 Million by 2030

According to a research report "Blockchain in Agriculture and Food Supply Chain Market”, by Type (Public, Private, Hybrid/Consortium), Stakeholders (Growers, Food Manufacturers/Processors, Retailers), Providers (Application Providers, Middleware Providers, Infrastructure Providers), Organization Size (SMEs, Large Enterprises), Application (Product Traceability, Tracking, and Visibility; Payment and Settlement; Smart Contract; Governance, Risk, and Compliance Management) & Region - Global Forecast to 2030.

Blockchain in Agriculture and Food Supply Chain Market was valued USD 315.5 Million in 2023 and projected to reach USD 5996.5 Million by 2030, growing at a CAGR of 52.3% during the forecast period of 2023-2030.

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Browse in-depth TOC on Blockchain in Agriculture and Food Supply Chain Market

• 324 - Tables
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• 370 - Pages

Market Overview: The Global Blockchain in Agriculture and Food Supply Chain Market plays a pivotal role in enhancing transparency, traceability, and efficiency within the industry. Blockchain technology, with its decentralized and immutable ledger, enables seamless tracking of the entire food supply chain from farm to table. This transparency ensures that consumers have access to accurate information about the origin, production, and distribution of food products. It helps in building trust among consumers by providing visibility into the authenticity of claims related to organic farming practices, fair trade, and sustainable sourcing.

Furthermore, the implementation of blockchain in agriculture and the food supply chain brings about operational efficiencies by reducing fraud, errors, and delays in transactions. Smart contracts embedded in blockchain technology automate various processes, such as payment settlements and compliance checks, streamlining the overall supply chain management. This not only leads to cost savings but also contributes to the prevention of food fraud and contamination, ultimately benefiting the entire industry by fostering a more secure, accountable, and sustainable food ecosystem.

Market Dynamics

Drivers:

• Increased Demand for Transparency in the Food Supply Chain
• Growing Need for Traceability and Authentication of Agricultural Products
• Rising Concerns About Food Safety and Quality
• Advancements in IoT (Internet of Things) and Sensor Technologies

Opportunities:

• Blockchain's Potential to Reduce Fraud and Counterfeiting in Agriculture
• Adoption of Smart Contracts for Efficient and Automated Transactions
• Integration of Blockchain with Emerging Technologies like AI and Machine Learning
• Expansion of Blockchain Applications Beyond Traceability, such as Supply Chain Optimization

North America dominates the market for Blockchain in Agriculture and Food Supply Chain.

The dominating region in the global blockchain in agriculture and food supply chain market is North America, with the United States at the forefront of adoption. The region is witnessing rapid growth due to a well-established agricultural sector, high awareness of technology, and a strong emphasis on food safety regulations. The U.S. Department of Agriculture (USDA) has been actively exploring blockchain applications to enhance traceability and reduce fraud in the food supply chain.

An upcoming region with high growth potential is Asia-Pacific, led by China. The increasing population, coupled with rising concerns about food safety, is driving the adoption of blockchain technology in the region. China, in particular, is investing significantly in blockchain applications for agriculture to ensure the authenticity and quality of its food exports. The government's support and initiatives to integrate technology into the agriculture sector make China a promising market for blockchain solutions. Other countries in Southeast Asia, such as India and Indonesia, are also showing increasing interest in leveraging blockchain for their agriculture and food supply chain, presenting lucrative opportunities for market growth in the coming years.

Top Key Players covered in the market report:

• IBM
• TE-FOOD International GmbH
• Microsoft
• ACR-NET
• Ambrosus
• SAP SE
• Chainvine
• Ripe.io
• AgriDigital
• OriginTrail
• Provenance
• Modum.Io Ag
• Viveat
• Eharvesthub Inc.
• Grainchain
• Cargochain
• Farm2kitchen Foods Pvt. Ltd.
• Genuino

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Segmentations Analysis of Blockchain in Agriculture and Food Supply Chain Market: -

• By Type
• By Stakeholders
• By Providers
• By Organization Size
• By Application
• By Region

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