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Blockchain in Agriculture Market Segmentation by Type (Public, Private, and Others); by Application (Product Tracking, Payment & Settlement, Governance Management, and Others) – Global Demand Analysis & Opportunity Outlook 2030

Buy Now Report ID: 3416 | Published Date: Feb 08, 2023

Global Blockchain in Agriculture Market Regional Synopsis

On the basis of geographical analysis, the global blockchain in agriculture market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of higher adoption of blockchain technology, such as, blockchain in BFSI, blockchain in telecom, cryptocurrency, in developed economies, including the United States, and Canada, along with the development in the agriculture sector. The market in Asia Pacific region witnessed or is estimated to witness noteworthy growth over the forecast period on the back of presence of highly unorganized agriculture sector in countries, such as, India, Sri Lanka, and China. Moreover, the economic development in the APAC region and private investment in agriculture sector are estimated to encourage the regional market growth.

Blockchain in Agriculture Market

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The global blockchain in agriculture market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


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Global Blockchain in Agriculture Market
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Major Macro-Economic Indicators Impacting the Market Growth

Research Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.


Market Segmentation

Market-Growth-Drivers

Our in-depth analysis of the global blockchain in agriculture market includes the following segments:

By Type

  • Private
  • Public
  • Others

By Application

  • Product Tracking
  • Payment & Settlement
  • Governance Management
  • Others

Growth Drivers

  • Rapid Adoption of Blockchain Technology
  • Increasing Private Investment in the Agriculture Sector

Challenges

  • Unorganized Nature of Farming in Low-income Countries


Research Expenditure
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Top Featured Companies Dominating the Market

top-features-companies
    • Provenance Limited
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • SAP America
    • OriginTrail d.o.o.
    • AMBROSUS Inc.
    • Advanced Research Cryptography Ltd.
    • Microsoft
    • TE-FOOD International GmbH.
    • IBM
    • Full Profile Pty Ltd
    • Chainvine

In-the-news

In The News

  • April, 2021: Advanced Research Cryptography Ltd. (Arc-net) to organize a seminar sharing the benefits off blockchain applied in food industry. This seminar included ICT management, supply chain under food industry, and management heads of R&D in agriculture sector.


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Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


Author Credits:  Abhishek Verma, Hetal Singh


Key Questions Answered in the Report

1) What are the major factors driving the growth of the blockchain in agriculture market?

Ans: Advantages of blockchain, such as, consumer awareness and demand for full transparency are estimated to boost the market growth.

2) What would be the CAGR of blockchain in agriculture market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~35% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the blockchain in agriculture market growth?

Ans: Unorganized agriculture sector is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of blockchain in agriculture market in future?

Ans: The market in North America region to display growth opportunities over the forecast period, owing to the presence of major market players, along with higher adoption of blockchain technology.

5) Who are the major players dominating the blockchain in agriculture market?

Ans: The major players in the market are OriginTrail d.o.o., AMBROSUS Inc., Advanced Research Cryptography Ltd., Microsoft, TE-FOOD International GmbH., IBM, Full Profile Pty Ltd, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the blockchain in agriculture market?

Ans: The market is segmented by type, application, and by region.

8) Which sub-segment captures the largest market size in application segment in the blockchain in agriculture market?

Ans: The governance & management segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

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