17:09 | 30.11.2020
The Worldwide Blockchain in Agriculture and Food Supply Chain Industry is Expected to Reach $948 Million by 2025 – ResearchAndMarkets.com
The “Blockchain in Agriculture and Food Supply Chain Market by Application (Product Traceability, Payment and Settlement, Smart Contracts, and Governance, Risk and Compliance Management), Provider, Organization Size, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global blockchain in agriculture and food supply chain market size is estimated to be USD 133 million in 2020 and is projected to reach USD 948 million by 2025, at a CAGR of 48.1% during the forecast period.
Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decision-making capabilities of organizations. It finds several potential applications in these sectors, some of which have already been explored. The major applications of blockchain technology in food and agriculture include product traceability, tracking and visibility, payment and settlement, smart contract, governance, risk, and compliance management. The blockchain market is expected to grow, owing to an increase in the demand for supply chain transparency. The major driver of the blockchain market is the growing number of food fraud cases. The growth RATE of small and medium-sized enterprises is higher as several startups are investing in this market across the globe and understanding the benefits this technology offers.
Increase in Popularity of Blockchain Among Retailers/Distributors for Better Supervision & Data Management
Growth in Online Trading and Tracking Systems Enhancing the Need for Blockchain Solutions During COVID-19
Growing Food Wastage and Post-Harvest Losses
Limited Availability of Technical Skillset for Implementing and Managing Blockchain Applications
Opportunity to Adopt Blockchain Solutions to Ease the Supply Chain Complexities in the Agriculture Ecosystem
Fastest-Growing Smart Agricultural Systems Creating an Opportunity for the Blockchain Applications at Growers’ Level
Government Initiatives to Support Modern Techniques That Can be Used in Agriculture to Increase Agricultural Production
Agreement Between All Stakeholders of the Supply Chain to Digitally Connect
Lack of Standardization of Data is a Challenge as It May Misrepresent the Data
Farm2Kitchen Foods Pvt. Ltd.
Fce Group Ag
Te-Food International GmbH
For more information about this report visit https://www.researchandmarkets.com/r/4nmabh
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