DUBLIN, Dec. 8, 2020 /PRNewswire/ — The “Blockchain in Agriculture and Food Supply Chain Market by Application (Product Traceability, Payment and Settlement, Smart Contracts, and Governance, Risk and Compliance Management), Provider, Organization Size, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global blockchain in agriculture and food supply chain market size is estimated to be USD 133 million in 2020 and is projected to reach USD 948 million by 2025, at a CAGR of 48.1% during the forecast period.
Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decision-making capabilities of organizations. It finds several potential applications in these sectors, some of which have already been explored. The major applications of blockchain technology in food and agriculture include product traceability, tracking and visibility, payment and settlement, smart contract, governance, risk, and compliance management. The blockchain market is expected to grow, owing to an increase in the demand for supply chain transparency. The major driver of the blockchain market is the growing number of food fraud cases. The growth RATE of small and medium-sized enterprises is higher as several startups are investing in this market across the globe and understanding the benefits this technology offers.
By application, the product traceability, tracking, and visibility subtype are projected to account for the largest market growth in the specialty fats and oils market during the forecast period.
Using blockchain technology, companies can claim and authenticate their products by providing the end customers with the knowledge about the product’s complete journey – from origin to the shelf. Also, the significance of these applications grew tremendously with the spread of the COVID-19 pandemic. The blockchain market is estimated only to see a rise in the post-pandemic world, as transparency and traceability of the food value chain are observing a growing need in the global food industry.
By provider, the application and solution provider subtype is projected to be the fastest-growing segment in the blockchain in the agriculture and food supply chain market during the forecast period.
Application and solution providers are third-party entities that distribute and manage blockchain solutions for customers across the agriculture and food industry. These vendors provide blockchain technologies that are more likely to deliver high business value to companies by reducing transactional data duplication and providing periodic reconciliation and authentication for commercial and regulatory needs.
By organization size, the large enterprise sub-segment is projected to account for the highest market share in the blockchain in the agriculture and food supply chain market during the forecast period.
Large organizations have sufficient revenues and funds to invest in new technologies; therefore, industry giants such as Walmart (US), Bumble Bees (US), Nestle (Switzerland), and JD.com (China) are adopting blockchain technology on a pilot basis leading to the dominance of this segment. The agriculture and food market includes leading companies such as IBM Microsoft, SAP SE, ACR-NET, and TE-Foods International GmbH, amongst others that provide exquisite blockchain technology platforms.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Opportunities in the Blockchain in Agriculture and Food Supply Chain Market
4.2 Blockchain in Agriculture and Food Supply Chain Market: Key Country
4.3 Blockchain in Agriculture and Food Supply Chain Market, by Provider and Region
4.4 Blockchain in Agriculture and Food Supply Chain Market, by Application
4.5 Developed Vs. Developing Markets for Blockchain in Agriculture and Food Supply Chain
4.6 North America: Blockchain in Agriculture and Food Supply Chain Market, by Provider and Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Concerns for Food Safety Among Consumers Demanding Transparency in the Supply Chain
5.2.1.1.1 Rise in Food Fraud Cases
5.2.1.2 Increase in Popularity of Blockchain Among Retailers/Distributors for Better Supervision & Data Management
5.2.1.3 Growth in Online Trading and Tracking Systems Enhancing the Need for Blockchain Solutions During COVID-19
5.2.1.4 Growing Food Wastage and Post-Harvest Losses
5.2.2 Restraints
5.2.2.1 Uncertainty in Regulations and Standards
5.2.2.2 Limited Availability of Technical Skillset for Implementing and Managing Blockchain Applications
5.2.3 Opportunities
5.2.3.1 Increase in Funding and Investments in Agri-Food Blockchain
5.2.3.2 Opportunity to Adopt Blockchain Solutions to Ease the Supply Chain Complexities in the Agriculture Ecosystem
5.2.3.3 Fastest-Growing Smart Agricultural Systems Creating an Opportunity for the Blockchain Applications at Growers’ Level
5.2.3.4 Government Initiatives to Support Modern Techniques That Can be Used in Agriculture to Increase Agricultural Production
5.2.4 Challenges
5.2.4.1 Data Mismanagement Among Growers During Precision Farming
5.2.4.2 Agreement Between All Stakeholders of the Supply Chain to Digitally Connect
5.2.4.3 Lack of Standardization of Data is a Challenge as It May Misrepresent the Data
5.3 Blockchain Ecosystem
5.3.1 Blockchain Ecosystem in Agriculture and Food Supply Chain
5.4 Steps Involved in the Implementation of Blockchain Technology
5.5 Blockchain Associations and Consortiums
5.5.1 R3 Consortium
5.5.2 Kinakuta
5.5.3 Hyperledger
5.5.4 World Blockchain Association
5.5.5 Global Blockchain Business Council
5.5.6 Trace Alliance
5.5.7 Blockchain Alliance
5.5.8 Blockchain Industry Group
5.5.9 Blockchain Collaborative Consortium (Bcc)
5.6 Use Cases
6 Impact of COVID-19 on the Blockchain in Agriculture and Food Supply Chain Markets
6.1 COVID-19 Impact on the Blockchain in Agriculture and Food Supply Chain Market
6.2 COVID-19 Impact on the Blockchain in Agriculture and Food Supply Chain Market
7 Blockchain in Agriculture Market, by Type
7.1 Introduction
7.2 Public Blockchain
7.3 Private Blockchain
7.4 Consortium/Hybrid Blockchain
8 Blockchain in Agriculture and Food Supply Chain Market, by Stakeholder
8.1 Introduction
8.2 Growers
8.3 Food Manufacturers/Processors
8.4 Retailers
9 Blockchain in Agriculture and Food Supply Chain Market, by Provider
9.1 Introduction
9.2 Application and Solution Providers
9.3 Middleware Providers
9.4 Infrastructure and Protocol Providers
10 Blockchain in Agriculture and Food Market, by Organisation Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.2.1 Large Enterprises
11 Blockchain in Agriculture and Food Supply Chain Market, by Application Area
11.1 Introduction
11.2 Product Traceability, Tracking, and Visibility
11.3 Payments and Settlements
11.4 Smart Contract
11.5 Governance, Risk, and Compliance Management
12 Blockchain in Agriculture and Food Supply Chain Market, by Region
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 UK
12.3.2 Germany
12.3.3 Rest of Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 Australia & New Zealand
12.4.3 Japan
12.4.4 Singapore
12.4.5 Rest of Asia-Pacific
12.5 South America
12.5.1 Brazil
12.5.2 Argentina
12.5.3 Rest of South America
12.6 Middle East & Africa
12.6.1 UAE
12.6.2 Kenya & Nigeria
12.6.3 South Africa
12.6.4 Rest of Mea
13 Competitive Landscape
13.1 Overview
13.2 Market Ranking
13.2.1 Market Evaluation Framework
13.3 Competitive Scenario
13.3.1 Expansions, Fundings & Investments
13.3.2 New Product Launches
13.3.3 Agreements, Joint Ventures, Co-Operations, Collaborations, and Partnerships
14 Company Evaluation Matrix & Company Profiles
14.1 Company Evaluation Matrix (Overall Market)
14.1.1 Stars
14.1.2 Pervasive Players
14.1.3 Emerging Leaders
14.1.4 Participants
14.2 Company Profiles
14.2.1 IBM
14.2.2 Microsoft
14.2.3 Arc-Net
14.2.4 Ambrosus
14.2.5 Sap Se
14.2.6 Origintrail
14.2.7 Provenance
14.2.8 Agridigital
14.2.9 Ripe.Io
14.2.10 Vechain
14.2.11 Chainvine
14.2.12 Agrichain
14.2.13 Skuchain
14.2.14 Bext360
14.2.15 Fce Group Ag
14.2.16 Coin 22
14.2.17 Te-Food International GmbH
14.2.18 Modum.Io Ag
14.2.19 Viveat
14.2.20 Eharvesthub Inc.
14.2.21 Grainchain
14.2.22 Cargochain
14.2.23 Farm2Kitchen Foods Pvt. Ltd.
14.2.24 Genuino
14.2.25 Agri 10X
15 Appendix
15.1 Discussion Guide:
15.2 Knowledge Store: The Subscription Portal
15.3 Available Customization
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