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