Blockchain technology is used to enhance the decision making capability of the organization. Block chain market for agriculture and food supply is expected to grow due to the rise in demand for supply chain transparency. Rising concern towards the food security along with growing cases of adulteration is anticipated to boost the market. Increasing investments and funding in food blockchain is further expected to drive the market. Moreover, the growing adoption of blockchain technology in food supply chain is expected to create new opportunity to boost the market in the next five years. However, lack of awareness of blockchain technology along with limited availability of technical skill sets in developing economies is assumed to restrain the growth of market. The market is segmented into provider, application and geography. Basis of application, the product traceability, tracking and visibility is expected to hold a significant share in the market owing to the increase in investment for food security. Geographically, North America is projected to be a substantial shareholder due to the presence of major companies and increasing investment in research and development of blockchain technology.
Growth adoption of blockchain technology in food supply chain.
Growing demand for supply chain transparency
Increasing adulteration cases.
Lack of awareness of blockchain technology in emerging economies.
Lack of technical skill sets for implementing blockchain technology.
The major players profiled in the Blockchain Market for Agriculture and Food Supply market are SAP-SE, IBM, AgriDigital, VeChain, Ambrosus, Origin Trail, Microsoft, BlockGrain, Ripe.io and ChainVine.
The Blockchain Market for Agriculture and Food Supply market been analyzed through the following segments:
Application and Solution Provider
Infrastructure and Protocol Provider
Payment and Settlement
Product Traceability, Tracking and Visibility
Governance, Risk and Compliance Management
Middle East and Africa