Blockchain in Agriculture and Food Supply Chain Market Forecasts to 2030 – Global Analysis By Type (Public, Private and Hybrid/Consortium), Provider, Stakeholder, Technology, Application, End User and By Geography

Blockchain in Agriculture and Food Supply Chain Market Forecasts to 2030 – Global Analysis By Type (Public, Private and Hybrid/Consortium), Provider, Stakeholder, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Blockchain in Agriculture and Food Supply Chain Market is accounted for $418.4 million in 2024 and is expected to reach $2,915.4 million by 2030 growing at a CAGR of 38.2% during the forecast period. Blockchain in agriculture and the food supply chain is a decentralized digital ledger technology that records transactions across a network of computers in a secure, transparent, and immutable manner. It enhances traceability by tracking the journey of food products from farm to table, ensuring data integrity and reducing fraud. By providing real-time, tamper-proof records, blockchain improves food safety, streamlines supply chain processes, and fosters trust among stakeholders by enabling clear visibility and accountability throughout the entire supply chain.

Market Dynamics:

Driver:

Growing demand for transparency and traceability

The rising demand for transparency and traceability in the market reflects consumers' heightened awareness of food safety, quality, and ethical practices. With increasing concerns about provenance, sustainability, and contamination, stakeholders are prioritizing clear, traceable records of food products from farm to table. This demand drives the adoption of technologies like blockchain to provide accurate, real-time information, ensuring that products are responsibly sourced and handled, ultimately fostering consumer trust and enhancing supply chain efficiency.

Restraint:

Need for technical expertise

The need for technical expertise in implementing blockchain within agriculture and the food supply chain can create several challenges. High demand for specialized knowledge can lead to increased costs for training and system maintenance, disproportionately affecting smaller businesses and farms. This reliance on technical skills may also slow down the adoption of blockchain technology, as fewer organizations can afford the necessary expertise. Additionally, a shortage of skilled professionals could result in improper implementation, reducing the effectiveness of blockchain solutions and hindering overall progress.

Opportunity:

Efficiency in supply chain management

Blockchain enhances efficiency in supply chain management within agriculture and the food supply chain by providing a decentralized, transparent ledger of transactions. This technology streamlines processes by automating record-keeping and tracking, reducing the need for intermediaries, and minimizing errors. Real-time data access allows for better inventory management, faster response to disruptions, and improved coordination among stakeholders. Consequently, blockchain boosts overall supply chain efficiency, leading to cost savings, reduced waste, and more reliable delivery of products from farm to table.

Threat:

High Implementation costs

High implementation costs for the market can be a significant barrier to adoption. These costs include investments in technology infrastructure, software development, and specialized expertise. For many organizations, especially smaller farms and businesses, these expenses can be prohibitive. The financial strain may deter adoption and slow the widespread implementation of blockchain solutions, potentially limiting the technology's benefits in enhancing transparency, traceability, and efficiency across the food supply chain.

Covid-19 Impact:

The COVID-19 pandemic highlighted the critical role of blockchain in agriculture and the food supply chain by underscoring the need for transparency and resilience. Disruptions in supply chains revealed vulnerabilities, and blockchain's capability to provide real-time, verifiable data became essential for managing logistics and ensuring food safety. The pandemic accelerated the adoption of blockchain technology as stakeholders sought to enhance traceability, reduce fraud, and improve response times, ultimately strengthening the resilience and efficiency of the food supply chain.

The middleware providers segment is expected to be the largest during the forecast period

The middleware providers is expected to be the largest during the forecast period. These providers develop platforms that enable seamless data exchange, smart contract management, and transaction processing, bridging the gap between blockchain networks and traditional supply chain systems. Their solutions enhance interoperability, streamline workflows, and support the efficient deployment of blockchain applications, ultimately improving transparency, traceability, and efficiency across the food supply chain.

The product traceability segment is expected to have the highest CAGR during the forecast period

The product traceability segment is expected to have the highest CAGR during the forecast period. Blockchain technology provides an immutable ledger that captures detailed information about a product’s origin, processing, and distribution. This transparency enables stakeholders to track and verify the authenticity and quality of food products, enhancing food safety and reducing fraud. Effective traceability supports quick responses to recalls and improves consumer trust by providing clear, accessible product histories.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to and increasing consumer demand for transparent food sourcing. The region's advanced technological infrastructure and significant investment in innovative solutions are accelerating the adoption of blockchain technology. Major players and stakeholders in agriculture and food industries are increasingly implementing blockchain to improve supply chain management, ensure food safety, and streamline operations.

Region with highest CAGR:

Asia Pacific is projected to witness the highest CAGR over the forecast period due to rising awareness about food safety issues. There is an increasing consumer demand for transparency in food sourcing. Blockchain provides a secure way to track products throughout the supply chain, enhancing consumer trust and safety. The integration of blockchain with IoT and AI technologies is expected to enhance supply chain efficiency and real-time monitoring, further driving adoption in the region.

Key players in the market:

Some of the key players in Blockchain in Agriculture and Food Supply Chain market include IBM, Microsoft, Ambrosus, SAP SE, Agridigital, Abaco Group, Wal-Mart, Cargill, DLT Foods, FoodLogiQ, AgriLedger, OriginTrail, CargoChain and Wholechain.

Key Developments:

In April 2024, Microsoft, in partnership with ITC, announced at the World Agri-Tech 2024, an AI copilot application called Krishi Mitra which is intended to serve 30,0000 farmers in India with timely & relevant information to enhance their productivity and profitability and help them build climate resilience.

In November 2023, Bayer has strengthened its collaboration with Microsoft’s Azure Data Manager for Agriculture that connects Bayer’s flagship digital farming product Climate FieldView and original equipment manufacturers (OEMs) to exchange data. This was announced at Agritechnica, the world’s leading trade fair for agricultural machinery.

Types Covered:
• Public
• Private
• Hybrid/Consortium

Providers Covered:
• Application and Solution Providers
• Middleware Providers
• Infrastructure and Protocol Providers

Stakeholders Covered:
• Growers
• Food Manufacturers/Processors
• Retailers

Technologies Covered:
• Automated Record Keeping
• Smart Contracts
• Food Supply Chain Tracing
• Payment Processing Modules
• Food Provenance Tracking Modules
• Other Technologies

Applications Covered:
• Product Traceability
• Tracking and Visibility
• Payment and Settlement
• Smart Contracts
• Governance, Risk, and Compliance Management
• Other Applications

End Users Covered:
• Raw Food Suppliers
• Food Manufacturers
• Transportation and Logistics Providers
• Food Product Distributors
• Government Agencies
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements