The Business Research Company’s Blockchain In Agriculture And Food Supply Chain Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LONDON, GREATER LONDON, UK, November 20, 2023 /EINPresswire.com/ — The global blockchain in agriculture and food supply chain market is projected to expand from $0.28 billion in 2022 to $0.41 billion in 2023, with a remarkable Compound Annual Growth Rate (CAGR) of 47.3%. Despite challenges posed by the Russia-Ukraine conflict and the ongoing repercussions of the COVID-19 pandemic, the market is expected to soar to $1.92 billion by 2027, driven by the increasing adoption of blockchain technology in the agriculture and food supply chain industry.
Growing Demand for Blockchain Solutions Among Small and Medium Enterprises Fuels Market Growth
The rising demand for blockchain solutions among small and medium enterprises in the agriculture and food supply chain industry is a significant driver propelling the market forward. Small and medium-sized enterprises are increasingly leveraging blockchain technology to streamline their operations, enhance supply chain visibility, and ensure transparency and traceability, thus gaining a competitive edge in the global market.
Explore the global blockchain in agriculture and food supply chain market with a detailed sample report:
Key Players and Market Segments
Leading players such as IBM, Microsoft, and SAP-SE are actively involved in advancing blockchain technology in the agriculture and food supply chain sector. The market segments include various stakeholders, such as growers, food manufacturers/processors, and retailers, contributing to the overall growth and development of the market.
•Type: Public Blockchain, Private Blockchain, Consortium/Hybrid Blockchain
•Stakeholder: Growers, Food Manufacturers/Processors, Retailers
•Application: Product Traceability, Tracking, And Visibility, Payment And Settlement, Smart Contracts, Governance, Risk And Compliance Management
Emerging Trend: Integration of Blockchain with IoT
The integration of blockchain with Internet of Things (IoT) devices is a prominent emerging trend in the blockchain in agriculture and food supply chain market. This integration enables secure data management and seamless transactions between IoT devices, fostering a more efficient and interconnected ecosystem for data sharing and financial transactions.
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Diverse Market Dynamics Across Different Regions
While North America dominated the blockchain in agriculture and food supply chain market in 2022, other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa exhibit diverse market dynamics, paving the way for substantial growth and development opportunities.
Blockchain In Agriculture And Food Supply Chain Global Market Report 2023from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheBlockchain In Agriculture And Food Supply Chain Global Market Report 2023byThe Business Research Company is the most comprehensive report that provides insights on blockchain in agriculture and food supply chain market size, blockchain in agriculture and food supply chain market drivers and trends, blockchain in agriculture and food supply chain market major players, blockchain in agriculture and food supply chain market competitors’ revenues, blockchain in agriculture and food supply chain market positioning, and blockchain in agriculture and food supply chain market growth across geographies.The blockchain in agriculture and food supply chain market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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