Latest added Blockchain in Agriculture and Food Supply Chain Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2026. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are IBM, TE-FOOD International GmbH, Microsoft, ACR-NET, Ambrosus. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.
This report studies the Blockchain in Agriculture and Food Supply Chain Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Blockchain in Agriculture and Food Supply Chain Market by companies, region, type and end-use industry.
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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ”Blockchain in Agriculture and Food Supply Chain Market, By Type (Public, Private, Hybrid/Consortium), Organization Size (Small and medium-sized enterprises, Large enterprises), Stakeholders (Growers, Food manufacturers/processors, Retailers), Service Providers (Application providers, Middleware providers, Infrastructure providers), Application (Product traceability, tracking, and visibility, Payment and settlement, Smart contract, Governance, risk, and compliance management) and Geography – Global Forecast to 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Blockchain in Agriculture and Food Supply Chain Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
Unlock new opportunities in Blockchain in Agriculture and Food Supply Chain Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.
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The global blockchain in agriculture and food supply chain market size is estimated at USD 133 million in 2020; it is projected to grow at a CAGR of 48.1% to reach USD 948 million by 2025. Benefits of Blockchain in agriculture include easy and cheap food batch recalls in case of emergencies, availability of the complete history of the product status, increased customer trust and loyalty, fairer payments, approved vendors, and proper compliance management. Consortiums are formed, such as Global Blockchain Business Council (Switzerland), World Blockchain Association (Switzerland), and Blockchain Collaborative Consortium (BCC) to make the government and all stakeholders aware of the benefits that blockchain technology. The blockchain market is expected to grow through such initiatives due to increased demand for supply chain transparency.
COVID-19 Impact on the Global Blockchain in agriculture and food supply chain Market
Amid the spread of the COVID-19 pandemic, the global food supply chains’ numerous inefficiencies were realized globally. This has led to the probable opening of opportunities in the mid and long-term technological markets. The blockchain platform offers a repeatable framework for end-to-end digital trade executions. According to the World Economic Forum, blockchain technology is a highly effective solution to cope with the inefficiencies in supply chains surfaced by the pandemic. Alliances were conducted between companies such as Cargill and Agrocrop with Rabobank and other logistics and supplier organizations to pilot blockchain for faster cross-continental commodity trading. The imposition of lockdowns has made it further difficult to track many food products’ origin, resulting in more hazardous food. According to the Global Food Safety Initiative (GFSI), food retailers across the world are also demanding certifications of suppliers to ensure food safety for every stakeholder in the value chain. Thus, the spread of the COVID-19 pandemic has led to the increasing use of blockchain in the food sector for traceability and transparency.
The application and solution providers sub-segment is estimated to account for the fastest growth in the by provider segment for Blockchain in agriculture and food supply chain market.
The application and solution providers majorly include the SME’ and startup companies that focus upon providing customizable and flexible products powered by innovation. As the number of startups rises in the market, it drives the number of applications and solution providers in the blockchain in the agriculture and food supply chain market.
The product traceability, tracking and visibility sub-segment is estimated to account for the largest market share by the application segment of blockchain in agriculture and food supply chain market over the forecast period.
Using this technology, processors will identify potential contamination sources during the supply chain and take precautionary steps. Companies have started investing in a blockchain to gain consumer trust, which provides transparency to the consumer to know the food product’s complete journey. All the information related to the provenance of the ingredients used, to the shelf, can be viewed by the consumers, which will allow them to gain trust in the product.
Key Market Players
Key players in this market include major players such as IBM (US), TE-FOOD International GmbH (Europe), Microsoft (US), ACR-NET (Ireland), Ambrosus (Switzerland), SAP SE (Germany), OriginTrail (Slovenia), and Provenance (UK). These major players in this market focus on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
Major Classifications are as follows:
By Organization Size
- Small and medium-sized enterprises
- Large enterprises
- Food manufacturers/processors
By Service Providers
- Application providers
- Middleware providers
- Infrastructure providers
- Product traceability, tracking, and visibility
- Payment and settlement
- Smart contract
- Governance, risk, and compliance management
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- North America
- South America
- Rest of South America
- Rest of the World
- Middle East
- In June 2020, Atea, IBM, and Sjømatbedriftene, the Norwegian Seafood Association, announced a new cross-industry collaboration to use blockchain technology and share supply chain data throughout Norway’s seafood industry and provide safer, better seafood to consumers across the globe. This blockchain technology would help to provide high-quality, fully traceable products.
- In May 2019, Microsoft launched Azure blockchain services, a fully managed service that allows for the formation, management, and governance of the consortium blockchain network. It is integrated with the Azure activity directory and offers tools to add new members, set permissions, and monitor network health and activity.
- In April 2019, Albertsons Companies (US) joined the IBM Food Trust blockchain network to track romaine lettuce from farm to store. Albertsons’ addition to the IBM Food Trust network will help bring blockchain-based food traceability to both consumers and industry players.
- In July 2018, Ambrosus launched an AMB-NET software solution that allows sensors to store and distribute data in real-time.
- In March 2018, Ambrosus partnered with Swiss Coffee Alliance (Switzerland) to build a sustainable supply chain for coffee by providing them with their platform for tracing the entire journey of the coffee and its supply chain.
- In May 2018, SAP partnered with Maple Leaf (Canada), Johnsonville (US), and Naturipe Farms (US) to use blockchain technology and help key players track their food products.
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