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Market Snapshot

CAGR:6.03

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	6.03

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Report Overview

Blockchain in Agriculture Market Analysis Report 2023-2032: The Blockchain in Agriculture Market is poised to experience robust growth, with a projected Compound Annual Growth Rate (CAGR) of 7.82% between 2022 and 2032. This market's expansion is forecasted to add approximately USD 3,640.26 million to its valuation. The market's trajectory is influenced by various factors, including the increasing demand for transparency in the food supply chain, the need for enhanced traceability and authenticity, and the growing interest in sustainable and ethical practices within the agriculture sector. Blockchain technology offers a decentralized and immutable ledger that can record and verify transactions securely, providing a novel solution to the challenges faced by the agriculture industry. Blockchain in Agriculture Market Overview:

Drivers:

One of the pivotal drivers propelling the growth of the blockchain in agriculture market is the rising demand for transparent and traceable food supply chains. Consumers are increasingly concerned about the origins of their food, including aspects like sourcing, production methods, and handling. Blockchain's ability to provide an unalterable record of every step in the supply chain, from farm to table, addresses this demand for transparency. It enables consumers to verify the authenticity of food products and encourages adherence to quality standards and ethical practices. Furthermore, the agriculture industry faces challenges related to fraud, counterfeiting, and food safety. Blockchain technology's capability to create an immutable record of transactions and assets adds an extra layer of security, helping to prevent fraud and ensuring the safety of the food supply. These factors are expected to drive the adoption of blockchain technology in agriculture during the forecast period.

Trends:

An emerging trend that significantly influences the growth of the blockchain in agriculture market is the integration of Internet of Things (IoT) devices with blockchain. The fusion of IoT and blockchain empowers real-time data collection, secure data sharing, and automated execution of smart contracts. This combination finds applications in precision agriculture, where sensors and devices collect data about soil conditions, weather patterns, and crop health. This data is then stored on the blockchain, enhancing transparency and enabling data-driven decision-making for farmers and stakeholders. Additionally, blockchain technology's potential to support sustainability efforts within agriculture is gaining traction. By recording and verifying sustainable practices, certifications, and ethical sourcing on the blockchain, consumers and businesses can make informed choices that contribute to environmentally friendly and socially responsible practices.

Restraints:

Complexity in implementing and integrating blockchain technology into existing agricultural systems poses a notable challenge to the market's growth. Integrating blockchain requires collaboration across multiple stakeholders in the agriculture supply chain, from farmers and distributors to processors and retailers. This collaborative effort can face resistance due to factors such as interoperability issues, data privacy concerns, and the need for standardization. Moreover, blockchain technology demands robust infrastructure, including reliable internet connectivity in rural areas, to function effectively. In regions with limited connectivity, implementing blockchain-based solutions may encounter hurdles, limiting their widespread adoption in such areas. Blockchain in Agriculture Market Segmentation By Application: The traceability and provenance segment is anticipated to witness substantial growth during the forecast period. The adoption of blockchain technology enables the creation of an immutable record of every stage of a product's journey through the supply chain. This includes details about planting, harvesting, processing, packaging, and distribution. Consumers, retailers, and regulators can access this information to verify the authenticity and quality of products, thereby fostering trust and improving accountability within the agricultural ecosystem. Another significant application of blockchain in agriculture is in supply chain management. By digitizing and automating transactions, contracts, and documentation on the blockchain, the supply chain becomes more efficient, reducing delays, fraud, and errors. This streamlined approach enhances collaboration among stakeholders and ensures timely delivery of products to markets. Blockchain in Agriculture Market Segmentation By Type: The private blockchain segment is poised for considerable growth within the blockchain in agriculture market. Private blockchains offer controlled access to authorized participants, making them suitable for consortiums and partnerships within the agriculture industry. These blockchains maintain a balance between transparency and data privacy, crucial for sharing sensitive information among stakeholders while maintaining security. On the other hand, public blockchains, while inherently transparent and decentralized, might face challenges related to scalability and compliance with data protection regulations. However, in cases where transparency and open access are essential, public blockchains could find applications in areas like fair trade certification or consumer education.

Regional Overview:

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The Asia-Pacific (APAC) region is projected to contribute significantly to the growth of the global blockchain in agriculture market during the forecast period. APAC is home to diverse agricultural economies, ranging from advanced farming practices to traditional subsistence farming. This diversity presents an opportunity for blockchain technology to address various challenges across these agricultural systems. China and India, with their large populations and extensive agricultural sectors, are expected to drive blockchain adoption for enhanced transparency and traceability. Additionally, governments in the region are showing increasing interest in promoting digitalization and technological innovation in agriculture, further fostering the adoption of blockchain solutions. The disruptions caused by the COVID-19 pandemic in 2020 highlighted the need for resilient and transparent supply chains. As the pandemic's impact subsides, there is a growing realization that blockchain technology can play a pivotal role in fortifying supply chains against future disruptions, thereby propelling the adoption of blockchain in agriculture. Blockchain in Agriculture Market Customer Landscape: The blockchain in agriculture market report provides insights into the adoption lifecycle within the industry, spanning from early adopters to late-stage participants. The report delves into adoption rates across different regions, based on market penetration. Furthermore, it sheds light on key purchasing criteria and factors influencing price sensitivity, assisting companies in formulating effective growth strategies. Major Companies in the Blockchain in Agriculture Market: Companies in the blockchain in agriculture market are employing diverse strategies, such as strategic collaborations, partnerships, acquisitions, geographical expansion, and product/service launches, to bolster their market presence. Example Companies:

AgriDigital
AgriChain
Bext360
Ripe.io
IBM Corporation
Microsoft Corporation
SAP SE
Oracle Corporation
OriginTrail
Skuchain
Ambrosus
Provenance These companies are driving innovation in the agricultural sector by leveraging blockchain technology to enhance transparency, traceability, and efficiency across the supply chain. Qualitative and quantitative analysis of these companies sheds light on their positioning in the market, helping stakeholders understand the competitive landscape and the strengths and weaknesses of key players.
Segment Overview:
The blockchain in agriculture market report offers revenue forecasts at the global, regional, and country levels, along with an analysis of the latest trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032)

Traceability and Provenance
Supply Chain Management
Payment and Settlement
Smart Contracts
Others

Type Outlook (USD Million, 2019 - 2032)

Public Blockchain
Private Blockchain
Consortium Blockchain

Geography Outlook (USD Million, 2019 - 2032)

North America

The U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
India
Japan
Rest of APAC

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

UAE
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Blockchain in Agriculture MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Blockchain in Agriculture MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Blockchain in Agriculture Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Blockchain in Agriculture MARKET BY Stake Holders INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Growers

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Food Manufacturers/Processors

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Retailers

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Blockchain in Agriculture MARKET BY Organization Size INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Large Enterprises

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Small and Medium-Sized Enterprises

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Blockchain in Agriculture MARKET REGIONAL OUTLOOK

7.1. Blockchain in Agriculture Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Blockchain in Agriculture Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Blockchain in Agriculture Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Blockchain in Agriculture Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Blockchain in Agriculture Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Blockchain in Agriculture Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. IBM (US)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2. Microsoft (US)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3. SAP-SE (Germany)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4. Ambrosus (Switzerland)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5. Arc-net (Ireland)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6. OriginTrail (Slovenia)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7. Ripe.io (US)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8. VeChain (China)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9. Provenance (UK)

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10. ChainVine (UK)

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Blockchain In Agriculture Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032