Market Analysis and Insights of Block Chain in Agriculture and Food Supply Chain Market
Rising food safety concerns among the consumers coupled with the rising demand for transparency in supply chain has created lucrative block chain in agriculture and food supply chain market growth opportunities. Data Bridge Market Research analyses that the global block chain in agriculture and food supply chain market will project a CAGR of 32.0% for the forecast period of 2021-2028. This highlights that fact that the current market value, that is USD 0.30 million will boom up to USD 2.765 million by the year 2028.
Block chain is a specific type of database containing information of all the transactions wherein each transaction generates a hash. Block chain is very effective as it is spread over many computers connected together where each block refers to the previous block. The block chain in agriculture and food supply chain maintains the data and records using cryptography and provides clarity and transparency between the farming process and supply chain. The block chain in agriculture and food supply chain is widely used to improve logistics, provide quality assurance and manage the nutrient plans. The block chain will help to create a direct link between the farmers and consumers and the farmers can as a result gain insight on budget distribution and can comprehend with the actual market price of their produce.
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Because of the various advantages such as availability of the complete history of the product status, increased customer trust and loyalty, fairer payments, easy and cheap food batch recalls in case of emergencies and so on, the market value of block chain in agriculture and food supply chain market is bound to shoot up significantly. Rising adoption of emerging technologies coupled with transparency in supply chain and to reduce food production frauds have propelled the market growth rate to newer heights.
However, prevailing uncertainty in regulations and lack of common set of standards will demean the market growth rate. Dearth of skilled professionals or trained expertise will also hammer down the market growth rate. Low level of technological base especially in underdeveloped countries too will pose a challenge to the market growth.
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Global Block chain in Agriculture and Food Supply Chain Market Scope and Market Size
The block chain in agriculture and food supply chain market is segmented on the basis of application and provider. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Based on application, the block chain in agriculture and food supply chain market is segmented into product traceability, payment and settlement, smart contracts and governance and risk and compliance management.
The block chain in agriculture and food supply chain market is also segmented on the basis of provider into application and solution provider, middleware provider, infrastructure and protocol provider.
The Block chain in Agriculture and Food Supply Chain Market Country Level Analysis
The countries covered in the block chain in agriculture and food supply chain market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is dominating the market owing to the prevalence of sophisticated level of technological infrastructure. Presence of major key players in the region is also inducing the overall growth of this region in the global market share. Asia-Pacific on the other hand is projected to score the highest growth rate during the forecast period owing to the supportive governmental policies and initiatives to invest into new and advanced technologies.
The country section of the block chain in agriculture and food supply chain market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Block Chain in Agriculture and Food Supply Chain Market Share Analysis
The block chain in agriculture and food supply chain market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to block chain in agriculture and food supply chain market.
The major players covered in the block chain in agriculture and food supply chain market report are
IBM Corporation, Microsoft, Advanced Research Cryptography Ltd, Ambrosus, SAP SE, OriginTrail, Project Provenance Ltd., ripe.io., VeChain Foundation, Chainvine Ltd, Full Profile Pty Ltd, AgriChain Pty Ltd, arc-net, FCE GROUP AG, COIN22, modum.io AG, EHARVESTHUB INC., Viveat., GENUINO and TE-FOOD International GmbH. among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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