Use Code ONLINE20 to Save 20% On Global Market Reports – Gain Access to Trusted Market Data, Growth Indicators, and Industry Analytics
How Has the Blockchain In Agriculture And Food Supply Chain Market Evolved in Terms of Size and Value From 2025 to 2029?
The blockchain in agriculture and food supply chain market size has grown exponentially in recent years. It will grow from $0.58 billion in 2024 to $0.83 billion in 2025 at a compound annual growth rate (CAGR) of 44.3%. The growth in the historic period can be attributed to enhanced traceability and transparency, prevention of food fraud and contamination, consumer demand for transparency, supply chain efficiency, reduction of food waste.
The blockchain in agriculture and food supply chain market size is expected to see exponential growth in the next few years. It will grow to $3.97 billion in 2029 at a compound annual growth rate (CAGR) of 47.8%. The growth in the forecast period can be attributed to enhanced food safety measures, stakeholder education and awareness, focus on sustainable and ethical practices, resilience against disruptions, customs and regulatory compliance. Major trends in the forecast period include enhanced traceability and transparency, food safety and quality assurance, smart contracts for automation, sustainable and ethical sourcing, supply chain optimization, increased adoption of blockchain.
What Are the Dominant Growth Drivers Impacting the Blockchain In Agriculture And Food Supply Chain Market Outlook?
The blockchain in agriculture and food supply chain market was supported by the increased demand for small and medium enterprises in the blockchain in agriculture and food supply chain market. This is mainly due to larger businesses investing heavily in developing their existing solutions, while new businesses are producing exclusive solutions in line with the needs of their national and regional markets. For instance, in October 2023, according to the Department for Business and Trade, a UK-based government department responsible for driving economic growth, promoting innovation, ensuring energy security, and shaping industrial strategy In 2022, the number of small-scale enterprises reached 217, and this continued to grow in 2023, reaching 223. For medium-scale enterprises, there was a slight increase from 36 in 2020 to 37 in 2023. Thus, the rise in small and medium enterprises is expected to drive the blockchain in agriculture and food supply chain market during the forecast period.
Which Market Segment Offers the Most Significant Growth Opportunities in the Blockchain In Agriculture And Food Supply Chain Market?
The blockchain in agriculture and food supply chainmarket covered in this report is segmented –
1) By Type: Public Blockchain, Private Blockchain, Consortium Or Hybrid Blockchain
2) By Stakeholder: Growers, Food Manufacturers Or Processors, Retailers
3) By Application: Product Traceability, Tracking, And Visibility, Payment And Settlement, Smart Contracts, Governance, Risk And Compliance Management
Subsegments:
1) By Public Blockchain: Fully Decentralized Public Blockchain, Open Source Blockchain Solutions
2) By Private Blockchain: Permissioned Private Blockchain, Centralized Blockchain Solutions
3) By Consortium Or Hybrid Blockchain: Consortium Blockchains, Hybrid Blockchains
What Are the Key Industry Trends Driving Growth in the Blockchain In Agriculture And Food Supply Chain Market?
The use of blockchain with IoT is an emerging trend followed by companies in the blockchain in agriculture and food supply chain market. Companies are using blockchain to secure data in IoT devices. IoT involves a system of devices that can collect, transfer, and store data over a wireless network. The use of blockchain with IoT devices enables smart devices to exchange data and other financial transactions in a scalable, private, and reliable manner. Blockchain technology with IoT further supports businesses to share and access data without the need for central control and management. For instance, in February 2022, Vodafone Group plc, a UK-based multinational telecommunications company, introduced Digital Asset Broker (DAB) platform, a blockchain-based trading platform for IoT devices and sensors. The new Digital Asset Broker (DAB) technology, which is purportedly designed to promote the economy of things, enables verified connected objects to transact securely without human oversight but under human (the 'owner') control by creating individualized digital identities for using payment technologies and mobile SIM security to interact and transact with other devices.
Who Are the Dominant Players Contributing Significantly to the Blockchain In Agriculture And Food Supply Chain Market Revenue?
Major companies operating in the blockchain in agriculture and food supply chain market include International Business Machines Corporation, Microsoft Corporation, SAP SE, Ambrosus AG, Arc-net, OriginTrail Ltd., Rip. io, Provenance Ltd., Chainvine Limited (ChainVine), AgriDigital Pty Ltd., Riiot Labs SA, VeChain Foundation, BlockGrain, AgriChain Pty Ltd., TE-FOOD International GmbH, Agri 10x LLC, AgriLedger Ltd., AgroChain Ltd., Bext Holdings Inc., Cargill Incorporated, CropIn Technology Solutions Pvt. Ltd., Deere & Company, Eka Software Solutions Pvt. Ltd., Emerson Electric Co., FoodLogiQ LLC, Full Profile Pty Ltd, GrainChain Inc., Kisan Network, Modi Infosol Pvt. Ltd., Nestlé S. A., Ripe Technology Inc., The Seam LLC, Topl LLC, Trace Genomics Inc., Unilever PLC, Viant Technology LLC, Walmart Inc., Yara International ASA, Zume Inc.
Get the detailed blockchain in agriculture and food supply chain market report today
Blockchain In Agriculture And Food Supply Chain Market Size 2025
Which Regions Are Expected to Record the Strongest CAGR in the Blockchain In Agriculture And Food Supply Chain Market?
North America was the largest region in the blockchain in agriculture and food supply chain market in 2024. The regions covered in the blockchain in agriculture and food supply chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Contact Us:
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: [email protected]