The growth in the global blockchain in agriculture and food market is expected to be driven by the increased need for transparency in the food supply chain and supportive government initiatives.
New York, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blockchain in Agriculture and Food Market - A Global and Regional Analysis: Focus on Applications, Products, and Country-Wise Analysis - Analysis and Forecast, 2021-2026" - https://www.reportlinker.com/p06223759/?utm_source=GNW
Impact of COVID-19
The outbreak of the COVID-19 pandemic and related policies imposed by governments of different countries significantly restricted both the business schedules along with the suppliers’ & customers’ business schedules, mainly in the first fiscal quarter of 2020.Additionally, the downturn in blockchain investments, as well as delays in project developments and postponement and cancellation of major blockchain & cryptocurrency conventions, was caused due to the pandemic.
These events mainly aid in the education as well as the marketing of blockchain technology.
Blockchain in Agriculture and Food Market by Type
A public blockchain is a type of blockchain that provides open access to the public and that anyone can join without specific permission. This segment dominates compared to a private and hybrid type blockchain system because everyone who enters the network can read, record, and participate in this network that no one controls.
Blockchain in Agriculture and Food Market by Organization
Large enterprises can offer an innovation-based approach to their clients to customize solutions that suit every supply chain’s necessity. This allows companies to achieve higher requirements in the market.
Blockchain in Agriculture and Food Market by Stakeholder
The growers are slightly more dominating than food retailers or manufacturers.This is due to more adoption rates of blockchain technologies by growers such as farmers.
The introduction of blockchain into the agricultural supply chain is foreseen as a new way to give farmers an increased stake in the supply chain and more ways to distribute their products across consumers.
Blockchain in Agriculture and Food Market by Provider
The application and solution provider segment is anticipated to dominate the market and grow robustly during the forecast time. The introduction of enhanced technological solutions has undergone significant adoption in the industry, which has boosted the overall market growth.
Blockchain in Agriculture and Food Market by Application
With increasing pilot cases for blockchain in the agricultural supply chain, stakeholders have begun to see high potential for increasing transparency. The arrival of blockchain is also seen as timely because of the rising demand for supply chain transparency and traceability motivated by the increasing number of food outbreaks and food-borne illnesses.
Blockchain in Agriculture and Food Market by Region
North America generated the highest revenue of $81.2 million in 2020. The U.S. dominated the blockchain innovation landscape in the region, with the maximum number of investments and pilot projects being tested in the country. The region is expected to witness high growth of CAGR 48.5% during the forecast period 2021-2026.
Key Market Players
Key players operating in the global blockchain in agriculture and food market analyzed and profiled in the study involve blockchain technology solution providers, retailers, food processors, agricultural OEMs, food distributors, and agricultural commodity traders using blockchain technology.
Some of the key players operating in the market include 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 and others.
• North America
• Rest-of-North America
• South America
• Rest-of-South America
• Middle East and Africa
• South Africa
• Saudi Arabia
• Rest-of-Middle East and Africa
Read the full report: https://www.reportlinker.com/p06223759/?utm_source=GNW
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