Blockchain in Agriculture Market Trends & Growth by 2030

Blockchain In Agriculture Market - Key Research Findings

The blockchain in agriculture market will surge at a remakable CAGR of 41.0% between 2019 and 2029.
The large enterprises segment dominated the blockchain in agriculture market.
The product traceability, tracking, and visibility segment held the largest share, and it is expected to remain dominant through the forecast period owing to factors such as an increase in investments for food safety and transparency along the supply chain and consumer demands for the knowledge of the provenance of food products.
North America accounts for the largest share of the global blockchain in the agricultural market owing to the presence of major companies such as IBM and Microsoft in the U.S.
Increasing investment from various stakeholders and government to support exploration and adoption of new technologies is expected to drive the blockchain in India's agricultural market.

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KEY FACTORS SHAPING THE BLOCKCHAIN IN AGRICULTURE MARKET

Blockchain Technology in Agriculture Sector
- Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decision-making capabilities of organizations. According to the FAO, about one-third of the food produced worldwide is wasted each year, which calls for a need to estimate and control the real supply and demand of food items so that they reach the poor. These problems can be tackled easily and efficiently using the blockchain network.
- With stringent lockdowns being instituted, companies have shuttered their facilities, people were ordered to stay at home. These restrictions will have impact in the blockchain in agriculture market as well. The market will however regain pace once economies start to returning to normalcy. Economic aid packages by governments, business loans and subsidized wages for workforce will revive manufacturing output and offer favorable prospects for the blockchain in agriculture market.
Acceptance Among Small & Medium Enterprises
- The small and medium-sized enterprises segment is projected to grow at the higher CAGR during the forecast period. The growing investment in small and medium-sized enterprises by government support and the rising number of start-ups in this sector will boost the adoption of blockchain technology.
Transparency in Food Chain
- When it comes to the way the food supply chain is managed currently, it has become challenging food producers and retailers to confirm the provenance of the products. With the emergence of the blockchain, it has become possible to bring trust and transparency in the food supply chain ecosystem, ensuring food safety for everyone. The rising demand for food safety will therefore boost the market in the coming years.

STRUCTURE ANALYSIS

Innovative new product releases, acquisitions, financing and alliances and collaborations are the main strategies adopted by market players.
Eka Software Solutions Pvt Ltd announced in March 2019 that it was launching a new blockchain application for Indian coffee farmers. The introduction of this platform helps a variety of users and farmers to reduce waste and to provide a focused area for the selling of their products.
In January 2019, HARA announced that, they had collaborated with Singularity NET at the World Web Forum held in Zurich, Switzerland from January 17-18, 2019. This collaboration helped farmer in delivering AI-based information on crop, soils, on the blockchain platform provided by HARA.

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Report Scope

Base year considered - 2019
Actual estimates/Historical data - 2014 – 2018
Forecast period - 2019 – 2029
Market Value in 2019 - US$ 2068.5 Mn
Segments covered - Organization Size, Application, Provider and Region
Regions covered - North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
Key Players - BM (US), Microsoft (US), SAP-SE (Germany), Ambrosus (Switzerland), Arc-net (Ireland), OriginTrail (Slovenia), Ripe.io (US), VeChain (China), Provenance (UK), ChainVine (UK), AgriDigital (Australia), and BlockGrain (Australia)
Growth Drivers
- Increasing concerns regarding the wastage of food grains and agricultural resources
- Rising cases of food contamination and food scams

Product Traceability, Tracking, and Visibility Segment is Estimated to Dominate

The product traceability, monitoring and visibility segment is expected to dominate the blockchain market in agriculture and the food supply chain over the forecast period. The growing demand for platforms and solutions to achieve full traceability of food products across the supply chain and the instances of food fraud in many countries are the key factors that help the need for product traceability, monitoring and visibility applications.

However, there has been an increase in blockchain technology investments in the vertical food and agriculture sector, along with an increase in the number of pilot studies across the globe. The blockchain payment and settlement segment in the agricultural and food supply chain market is projected to rise at the highest CAGR.

Uncertainty in legislation and standards is the key factor restricting the development of blockchain in the global market for agriculture and the food supply chain.

North America is Projected to Dominate the Blockchain in Agriculture Market

North America is expected to be the largest market in the global blockchain market in agriculture and the food supply chain. This field includes economies such as the US and Canada, which have a large share of the global blockchain in the market for agriculture and the food supply chain. This region has witnessed maximum investment in the R&D of new technologies primarily involved in the trade movement of commodities for food and agriculture.

This has provided a greater likelihood that this technology will be implemented in this region. The emergence of large technology providers such as IBM and Microsoft in North America and large retailers and food processors such as Walmart, McCormick & Co. and Dole Food Company is the major contributing factor to the growth of the agricultural and food supply chain blockchain market in this area.

Rising Awareness for Food Quality is Driving Market Growth

The growing concern over food grain waste and food fraud is the key factor driving growth in the market. Furthermore, the growing need for transparency in the food supply chain is another factor that propels market growth. In addition, technological growth in the agricultural sector has led to the launch of agricultural start-ups and thus leads to the positive effect of accelerating the market.

Blockchain technology is revolutionizing the food and agriculture industries by improving the organizations' decision-making ability. It identifies many possible applications in these fields, some of which have been explored already. Blockchain technology's main applications in food and agriculture include traceability and monitoring, payment and settlement, smart contracts and management, risk, and enforcement.

The growth of the blockchain market in agriculture and the food supply chain is due to the increase in demand for transparency in the supply chain, the increase in food fraud cases and the increase in concerns toward food wastage.

How Growth will Unfold

Blockchain technology is revolutionizing the agricultural sector by increasing the organizations' decision-making ability. It identifies many possible applications in the field, some of which have been explored already. Blockchain technology's main applications in agriculture include traceability and monitoring, payment and settlement, smart contract management, and governance, risk and enforcement management.

Growth in the blockchain in agriculture market will be propelled by the increasing demand for transparency in the supply chain, increased food fraud cases and increased concerns regarding food waste. Blockchain can help replace sluggish manual farming processes, improve traceability, and reduce IT transaction costs in the food supply chains. Nonetheless, blockchain has its drawbacks, as the system cannot collect data from a number of untrusted participants / vendors.

Furthermore, there is a mammoth gap between the existing capability of the technology and the capability needed by the supply chain. Such factors will slow down the growth of blockchain in the agricultural market in the near future. Nonetheless growth strategies adopted by the leading companies are likely to have positive impact on the global market.

Blockchain in Agriculture Market

BLOCKCHAIN IN AGRICULTURE MARKET TAXONOMY

The global Blockchain in Agriculture market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Provider

Application and solution provider
Middleware provider
Infrastructure and protocol provider

Application

Product traceability, tracking, and visibility
Payment and settlement
Smart contracts
Governance, risk and compliance management

Organization size

Large enterprises
Small and medium-sized (SMEs) enterprises

Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA

Frequently Asked Questions

What is the CAGR for the Blockchain in Agriculture Market?

The blockchain in agriculture market is likely to record a CAGR of 40% through 2032.

How much Valuation can be Expected by 2032?

The blockchain in agriculture market size is expected to be US$ 5,675.96 Mn by 2032.

How much is the Growth Potential of the Blockchain in Agriculture Market?

The blockchain in agriculture market share is likely to grow over US$ 164,179.9 Mn in 2022.

Which is the Dominant Blockchain in Agriculture Market?

North America is the dominant blockchain in agriculture market.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Macro-Economic Factors

3.2. Forecast Factors - Relevance & Impact

3.3. Value Chain Analysis

3.3.1. Raw Material Suppliers

3.3.2. Product Manufacturers

3.3.3. Distributors/Suppliers/Wholesalers

3.4. Market Dynamics

3.4.1. Drivers

3.4.2. Restraints

3.4.3. Opportunity

3.5. Key Regulations

4. Global Blockchain in Agriculture Market Demand Analysis 2015-2019 and Forecast, 2020-2030

4.1. Historical Market Volume (Metric Tons) Analysis, 2015-2019

4.2. Current and Future Market Volume (Metric Tons) Projections, 2020-2030

4.3. Y-o-Y Growth Trend Analysis

5. Global Blockchain in Agriculture Market - Pricing Analysis

5.1. Regional Pricing Analysis (US$/Metric Tons) By Product

5.2. Global Average Pricing Analysis Benchmark

5.3. Pricing Influencing Factors

6. Global Blockchain in Agriculture Market Demand (Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030

6.1. Historical Market Value (US$ Mn) Analysis, 2015-2019

6.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030

6.2.1. Y-o-Y Growth Trend Analysis

6.2.2. Absolute $ Opportunity Analysis

7. Global Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030, By Provider

7.1. Introduction / Key Findings

7.2. Historical Market Size (US$ Mn) and Volume Analysis By Provider, 2015 - 2019

7.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Provider, 2020 - 2030

7.3.1. Application and solution provider

7.3.2. Middleware provider

7.3.3. Infrastructure and protocol provider

7.4. Market Attractiveness Analysis By Provider

8. Global Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030, By Application

8.1. Introduction / Key Findings

8.2. Historical Market Size (US$ Mn) and Volume Analysis By Application, 2015 - 2019

8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Application, 2020 - 2030

8.3.1. Product traceability, tracking, and visibility

8.3.2. Payment and settlement

8.3.3. Smart contracts

8.3.4. Governance, risk and compliance management

8.4. Market Attractiveness Analysis By Application

9. Global Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030, By Organization size

9.1. Introduction / Key Findings

9.2. Historical Market Size (US$ Mn) and Volume Analysis By Organization size, 2015 - 2019

9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Organization size, 2020 - 2030

9.3.1. Large enterprises

9.3.2. Small and medium-sized (SMEs) enterprises

9.4. Market Attractiveness Analysis By Organization size

10. Global Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030, By Region

10.1. Introduction

10.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2015 - 2019

10.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2020 - 2030

10.3.1. North America

10.3.2. Latin America

10.3.3. Europe

10.3.4. East Asia

10.3.5. South Asia

10.3.6. Oceania

10.3.7. Middle East and Africa (MEA)

10.4. Market Attractiveness Analysis By Region

11. North America Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

11.1. Introduction

11.2. Pricing Analysis

11.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

11.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

11.4.1. By Country

11.4.1.1. U.S.

11.4.1.2. Canada

11.4.2. By Provider

11.4.3. By Application

11.4.4. By Organization size

11.5. Market Attractiveness Analysis

11.5.1. By Country

11.5.2. By Provider

11.5.3. By Application

11.5.4. By Organization size

11.6. Market Trends

11.7. Key Market Participants - Intensity Mapping

11.8. Drivers and Restraints - Impact Analysis

12. Latin America Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

12.1. Introduction

12.2. Pricing Analysis

12.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

12.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

12.4.1. By Country

12.4.1.1. Brazil

12.4.1.2. Mexico

12.4.1.3. Rest of Latin America

12.4.2. By Provider

12.4.3. By Application

12.4.4. By Organization size

12.5. Market Attractiveness Analysis

12.5.1. By Country

12.5.2. By Provider

12.5.3. By Application

12.5.4. By Organization size

12.6. Market Trends

12.7. Key Market Participants - Intensity Mapping

12.8. Drivers and Restraints - Impact Analysis

13. Europe Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

13.1. Introduction

13.2. Pricing Analysis

13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

13.4.1. By Country

13.4.1.1. Germany

13.4.1.2. Italy

13.4.1.3. France

13.4.1.4. U.K.

13.4.1.5. Spain

13.4.1.6. BENELUX

13.4.1.7. Nordic

13.4.1.8. Russia

13.4.1.9. Poland

13.4.1.10. Rest of Europe

13.4.2. By Provider

13.4.3. By Application

13.4.4. By Organization size

13.5. Market Attractiveness Analysis

13.5.1. By Country

13.5.2. By Provider

13.5.3. By Application

13.5.4. By Organization size

13.6. Market Trends

13.7. Key Market Participants - Intensity Mapping

13.8. Drivers and Restraints - Impact Analysis

14. East Asia Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

14.1. Introduction

14.2. Pricing Analysis

14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

14.4.1. By Country

14.4.1.1. China

14.4.1.2. Japan

14.4.1.3. South Korea

14.4.2. By Provider

14.4.3. By Application

14.4.4. By Organization size

14.5. Market Attractiveness Analysis

14.5.1. By Country

14.5.2. By Provider

14.5.3. By Application

14.5.4. By Organization size

14.6. Market Trends

14.7. Key Market Participants - Intensity Mapping

14.8. Drivers and Restraints - Impact Analysis

15. South Asia Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

15.1. Introduction

15.2. Pricing Analysis

15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

15.4.1. By Country

15.4.1.1. India

15.4.1.2. Thailand

15.4.1.3. Indonesia

15.4.1.4. Malaysia

15.4.1.5. Singapore

15.4.1.6. Rest of South Asia

15.4.2. By Provider

15.4.3. By Application

15.4.4. By Organization size

15.5. Market Attractiveness Analysis

15.5.1. By Country

15.5.2. By Provider

15.5.3. By Application

15.5.4. By Organization size

15.6. Market Trends

15.7. Key Market Participants - Intensity Mapping

15.8. Drivers and Restraints - Impact Analysis

16. Oceania Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

16.1. Introduction

16.2. Pricing Analysis

16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

16.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

16.4.1. By Country

16.4.1.1. Australia

16.4.1.2. New Zealand

16.4.2. By Provider

16.4.3. By Application

16.4.4. By Organization size

16.5. Market Attractiveness Analysis

16.5.1. By Country

16.5.2. By Provider

16.5.3. By Application

16.5.4. By Organization size

16.6. Market Trends

16.7. Key Market Participants - Intensity Mapping

16.8. Drivers and Restraints - Impact Analysis

17. Middle East and Africa Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

17.1. Introduction

17.2. Pricing Analysis

17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2015 - 2019

17.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2020 - 2030

17.4.1. By Country

17.4.1.1. GCC Countries

17.4.1.2. South Africa

17.4.1.3. Rest of Middle East and Africa

17.4.2. By Provider

17.4.3. By Application

17.4.4. By Organization size

17.5. Market Attractiveness Analysis

17.5.1. By Country

17.5.2. By Provider

17.5.3. By Application

17.5.4. By Organization size

17.6. Market Trends

17.7. Key Market Participants - Intensity Mapping

17.8. Drivers and Restraints - Impact Analysis

18. Emerging Countries Blockchain in Agriculture Market Analysis 2015-2019 and Forecast 2020-2030

18.1. Introduction

18.1.1. Market Value Proportion Analysis, By Key Countries

18.1.2. Growth Comparison of Global Market v/s Emerging Countries

18.2. Turkey Blockchain in Agriculture Market Analysis

18.2.1. Introduction

18.2.2. Pricing Analysis

18.2.3. PEST Analysis

18.2.4. Market Value Proportion Analysis by Market Taxonomy

18.2.5. Market Volume (Metric Tons) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy

18.2.5.1. By Provider

18.2.5.2. By Application

18.2.5.3. By Organization size

18.2.6. Turkey Blockchain in Agriculture Market - Competition Landscape

18.2.7. Turkey - Trade Analysis

18.3. India Blockchain in Agriculture Market Analysis

18.3.1. Introduction

18.3.2. Pricing Analysis

18.3.3. PEST Analysis

18.3.4. Market Value Proportion Analysis by Market Taxonomy

18.3.5. Market Volume (Metric Tons) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy

18.3.5.1. By Provider

18.3.5.2. By Application

18.3.5.3. By Organization size

18.3.6. India Blockchain in Agriculture Market - Competition Landscape

18.4. ASEAN Blockchain in Agriculture Market Analysis

18.4.1. Introduction

18.4.2. Pricing Analysis

18.4.3. PEST Analysis

18.4.4. Market Value Proportion Analysis by Market Taxonomy

18.4.5. Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy

18.4.5.1. By Provider

18.4.5.2. By Application

18.4.5.3. By Organization size

18.4.6. ASEAN Blockchain in Agriculture Market - Competition Landscape

19. Market Structure Analysis

19.1. Market Analysis by Tier of Companies

19.2. Market Concentration

19.3. Market Share Analysis of Top Players

19.4. Market Presence Analysis

19.4.1. By Regional Footprint of Players

19.4.2. Product Footprint by Players

19.4.3. Channel Footprint by Players

20. Competition Analysis

20.1. Competition Dashboard

20.2. Pricing Analysis by Competition

20.3. Competition Benchmarking

20.4. Competition Deep pe (Tentative List)

Blockchain in Agriculture Manufacturers

20.4.1. IBM

20.4.1.1. Overview

20.4.1.2. Product Portfolio

20.4.1.3. Profitability by Market Segments (Product/Channel/Region)

20.4.1.4. Sales Footprint

20.4.1.5. Strategy Overview

20.4.1.5.1. Marketing Strategy

20.4.1.5.2. Product Strategy

20.4.2. Microsoft

20.4.2.1. Overview

20.4.2.2. Product Portfolio

20.4.2.3. Profitability by Market Segments (Product/Channel/Region)

20.4.2.4. Sales Footprint

20.4.2.5. Strategy Overview

20.4.2.5.1. Marketing Strategy

20.4.2.5.2. Product Strategy

20.4.3. SAP-SE

20.4.3.1. Overview

20.4.3.2. Product Portfolio

20.4.3.3. Profitability by Market Segments (Product/Channel/Region)

20.4.3.4. Sales Footprint

20.4.3.5. Strategy Overview

20.4.3.5.1. Marketing Strategy

20.4.3.5.2. Product Strategy

20.4.4. Ambrosus

20.4.4.1. Overview

20.4.4.2. Product Portfolio

20.4.4.3. Profitability by Market Segments (Product/Channel/Region)

20.4.4.4. Sales Footprint

20.4.4.5. Strategy Overview

20.4.4.5.1. Marketing Strategy

20.4.4.5.2. Product Strategy

20.4.5. Arc-net

20.4.5.1. Overview

20.4.5.2. Product Portfolio

20.4.5.3. Profitability by Market Segments (Product/Channel/Region)

20.4.5.4. Sales Footprint

20.4.5.5. Strategy Overview

20.4.5.5.1. Marketing Strategy

20.4.5.5.2. Product Strategy

20.4.6. OriginTrail

20.4.6.1. Overview

20.4.6.2. Product Portfolio

20.4.6.3. Profitability by Market Segments (Product/Channel/Region)

20.4.6.4. Sales Footprint

20.4.6.5. Strategy Overview

20.4.6.5.1. Marketing Strategy

20.4.6.5.2. Product Strategy

20.4.7. Ripe.io

20.4.7.1. Overview

20.4.7.2. Product Portfolio

20.4.7.3. Profitability by Market Segments (Product/Channel/Region)

20.4.7.4. Sales Footprint

20.4.7.5. Strategy Overview

20.4.7.5.1. Marketing Strategy

20.4.7.5.2. Product Strategy

20.4.8. VeChain

20.4.8.1. Overview

20.4.8.2. Product Portfolio

20.4.8.3. Profitability by Market Segments (Product/Channel/Region)

20.4.8.4. Sales Footprint

20.4.8.5. Strategy Overview

20.4.8.5.1. Marketing Strategy

20.4.8.5.2. Product Strategy

20.4.9. Provenance

20.4.9.1. Overview

20.4.9.2. Product Portfolio

20.4.9.3. Profitability by Market Segments (Product/Channel/Region)

20.4.9.4. Sales Footprint

20.4.9.5. Strategy Overview

20.4.9.5.1. Marketing Strategy

20.4.9.5.2. Product Strategy

20.4.10. ChainVine

20.4.10.1. Overview

20.4.10.2. Product Portfolio

20.4.10.3. Profitability by Market Segments (Product/Channel/Region)

20.4.10.4. Sales Footprint

20.4.10.5. Strategy Overview

20.4.10.5.1. Marketing Strategy

20.4.10.5.2. Product Strategy

20.4.11. AgriDigital

20.4.11.1. Overview

20.4.11.2. Product Portfolio

20.4.11.3. Profitability by Market Segments (Product/Channel/Region)

20.4.11.4. Sales Footprint

20.4.11.5. Strategy Overview

20.4.11.5.1. Marketing Strategy

20.4.11.5.2. Product Strategy

20.4.12. BlockGrain

20.4.12.1. Overview

20.4.12.2. Product Portfolio

20.4.12.3. Profitability by Market Segments (Product/Channel/Region)

20.4.12.4. Sales Footprint

20.4.12.5. Strategy Overview

20.4.12.5.1. Marketing Strategy

20.4.12.5.2. Product Strategy

21. Assumptions and Acronyms Used