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Blockchain in Agriculture and Food Supply Chain: Introduction

  • Blockchain is a digital database comprising information that can be simultaneously used and shared within a large network. The blockchain in agriculture and food supply chain records and manages the data by using cryptography and provides transparency in the farming process and supply chain.
  • The use of blockchain in agriculture and the food supply chain offers quality assurance and improved logistics. It can create a direct link between the farmers and consumers.
  • The blockchain market is expected to grow through initiatives such as the World Blockchain Association, and Global Blockchain Business Council, and increased demand for supply chain transparency.
blockchain in agriculture and food supply chain market size and forecast

Global Blockchain in Agriculture and Food Supply Chain Market: Dynamics

Global Blockchain in Agriculture and Food Supply Chain Market: Key Drivers

  • Increasing food safety concerns due to the COVID-19 pandemic among consumers is driving the demand for transparency in the supply chain, which is estimated to boost the blockchain in agriculture and food supply chain market during the forecast period.
  • Increasing demand for agricultural products and adoption of smart agriculture techniques among producers is estimated to drive the growth of the blockchain in agriculture and food supply chain market.
  • Furthermore, government initiatives for use of modern techniques in agriculture, the growing popularity of blockchain between retailers, and rising investments and funding in agriculture and food blockchain are expected to create opportunities for the market during the forecast period
  • However, uncertainty in regulations, lack of standards, and mismanagement of data among growers is anticipated to hamper the blockchain in agriculture and food supply chain market during the forecast period.
blockchain in agriculture and food supply chain market dynamics

Impact of COVID-19 on the Global Blockchain in Agriculture and Food Supply Chain Market

  • Increasing cases of COVID-19 across the globe is resulting in partial or full lockdown. Many businesses are affected, including agriculture and food supply chain management; thus, various inefficiencies of the global food supply chain were realized during the pandemic. The need for improved food supply chains creates opportunities for technological markets. Blockchain technology offers traceability, security, and decentralization while dealing with data about food. Blockchain technology is a highly effective solution to manage the inefficiencies in supply chains raised by the pandemic. Therefore, the use of blockchain in the agriculture and food sector is increasing for traceability and transparency. Hence, COVID-19 has a positive impact on the blockchain in agriculture and food supply chain market.

North America to Hold Major Share of the Global Blockchain in Agriculture and Food Supply Chain Market

  • In terms of region, the global blockchain in agriculture and food supply chain market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global blockchain in agriculture and food supply chain market with the largest share due to adoption of advanced technology and infrastructure, presence of blockchain technology solution businesses such as Microsoft and IBM, and awareness of the potential of blockchain technology among retailers.
  • The blockchain in agriculture and food supply chain market in Europe is projected to expand at a rapid pace during the forecast period. This can be attributed to the growing investment in transaction-related applications, and increasing consumption of livestock-based products.
blockchain in agriculture and food supply chain market outlook by region

Global Blockchain in Agriculture and Food Supply Chain Market: Competition Landscape

Several local, regional, and global players are active in the blockchain in agriculture and food supply chain market with a strong presence. Rapid technological advancements have created significant opportunities in the market. Players in the market are continuously focusing on developing technology advanced solutions for their customers.

Key Players Operating in the Global Blockchain in Agriculture and Food Supply Chain Market Include:

  • ACR-NET
  • Advanced Research Cryptography Ltd.
  • AgriDigital
  • Ambrosus
  • Chainvine
  • FCE Group AG
  • IBM
  • Microsoft
  • OriginTrail
  • Project Provenance Ltd.
  • Ripe.io
  • SAP SE
  • TE-FOOD International GmbH
  • Viveat

Global Blockchain in Agriculture and Food Supply Chain Market: Research Scope

Global Blockchain in Agriculture and Food Supply Chain Market, by Type

  • Public
  • Private
  • Consortium

Global Blockchain in Agriculture and Food Supply Chain Market, by Providers

  • Application and Solution Providers
  • Infrastructure Providers
  • Middleware Providers

Global Blockchain in Agriculture and Food Supply Chain Market, by Organization Size

  • Small and Medium-sized Enterprises
  • Large Enterprises

Global Blockchain in Agriculture and Food Supply Chain Market, by Application

  • Product Traceability, Tracking, and Visibility
  • Smart Contracts
  • Payment and Settlement
  • Governance, Risk, and Compliance Management

Global Blockchain in Agriculture and Food Supply Chain Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Blockchain In Agriculture And Food Supply Chain Market

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