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Blockchain in Agriculture and Food Market - A Global and Regional Analysis

Focus on Applications, Products, and Country-Wise Analysis - Analysis and Forecast, 2021-2026

 
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The global blockchain in the agriculture and food market was valued at $139.6 million in 2020, which is expected to grow with a CAGR of 51.0% and reach $1,488.0 million by 2026.

The top market players are AgriChain Pty Ltd., Ambrosus, arc-net, Bext 360, Coin 22, Filament, FoodCoin Ecosystem, Full Profile Pty Ltd, IBM Corporation, Obook Holdings Inc. (OwlTing), OriginTrail, Project Provenance Ltd., Ripe Technology Inc., Microsoft Corporation, SAP SE, TE-Food International GmbH, Walmart, Alibaba Group, The Kroger Co., Nestle S.A., Tyson Foods Inc., Danone, Deere & Company, AGCO Corporation, CNH Industrial N.V., Sysco Corporation, McLane Company, Louis Dreyfus Company B.V., Cargill Inc., Archer Daniels Midland Company, Bunge Limited. 

Factors driving the growth of the blockchain in the agriculture and food market are the need for transparency in the supply chain, government initiatives to promote blockchain in agriculture, and stringent rules and regulations to comply with sustainability requirements. 

Some of the main challenges restricting the growth of the blockchain in the agriculture and food market are lack of awareness and technical know-how, lack of standardized data, and issues with data management.

The potential opportunities that are likely to boost the growth of the blockchain in the agriculture and food market are increasing in funds and investments in agri-blockchain, complexity in supply chains, and development of the small farmers’ cooperative.

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