The blockchain market for agriculture and food supply market is expected to have significant market growth during the forecast period.
Blockchain technology is used to enhance the decision-making capability of the organization. The blockchain market for agriculture and food supply is expected to grow due to the rise in demand for supply chain transparency. Rising concern about food security along with growing cases of adulteration is anticipated to boost the market. Increasing investments and funding in food blockchain are further expected to drive the market. Moreover, the growing adoption of blockchain technology in the food supply chain is expected to create a new opportunity to boost the market in the next five years.
However, a lack of awareness of blockchain technology along with limited availability of technical skillsets in developing economies is assumed to restrain the growth of the market. The market is segmented into provider, application, and geography. Basis of application, 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 the research and development of blockchain technology.
DRIVERS
Growth adoption of blockchain technology in the food supply chain.
Growing demand for supply chain transparency
Increasing adulteration cases.
RESTRAINTS
Lack of awareness of blockchain technology in emerging economies.
Lack of technical skillsets 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.
Segmentation
The Blockchain Market for Agriculture and Food Supply market been analyzed through the following segments:
By Provider
Middleware Provider
Application and Solution Provider
Infrastructure and Protocol Provider
By Application
Payment and Settlement
Smart Contract
Product Traceability, Tracking and Visibility
Governance, Risk and Compliance Management
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others