Blockchain for Sustainable Agriculture Market is Projected to Grow Expeditiously: to Reach USD 292.6 Million by 2032

The report provides a detailed analysis of these key players in the Blockchain for sustainable agriculture market.

WILMINGTON, NEW CASTLE, DE, UNITED STATES, January 27, 2025 /EINPresswire.com/ -- The global Blockchain for Sustainable Agriculture Market was valued at $174.5 million in 2023, and is projected to reach $292.6 million by 2032, growing at a CAGR of 5.6% from 2024 to 2032. The need for enhanced transparency & traceability and rise in demand for efficiency in supply chain management are the factors expected to propel the growth of the global blockchain for sustainable agriculture market. However, integration challenges and stringent regulatory requirements imposed by government authorities are anticipated to hamper the growth of global market. On the contrary, improved supply chain traceability, quality assurance, and facilitation of fair trade & ethical sourcing are further likely to create lucrative opportunities for the growth of the global market.  

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 215 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A324108

By enterprise size, the large enterprise segment accounted for the largest share in 2023, owing to its robust financial capabilities, extensive operational scale, and capacity to invest in advanced technologies. Large enterprises in agriculture, including multinational corporations and agribusiness conglomerates, have the resources and infrastructure to implement blockchain solutions across complex supply chains, which is further expected to propel the overall market growth. However, the small and medium-sized enterprise segment is projected to maintain its lead position during the forecast period, owing to several factors. SMEs, including family-owned farms, local cooperatives, and niche producers, play a critical role in fostering agricultural diversity, promoting regional food systems, and meeting consumer demand for locally sourced and sustainably produced goods. Thereby, driving the growth of this segment in the global Blockchain for sustainable agriculture market. 

By type, the public segment accounted for the largest market share in 2023, owing to the significant involvement of governmental bodies and regulatory authorities in promoting transparency and accountability within agricultural supply chains. Public sector entities, including government agencies, agricultural departments, and regulatory bodies, recognize blockchain technology as a powerful tool to enhance food safety, traceability, and sustainability practices, which is further expected to propel overall market growth. However, the hybrid segment is projected to maintain its lead position during the forecast period, owing to its versatility in integrating the strengths of both public and private sectors. Hybrid blockchain networks combine the transparency and security features of public blockchains with the control and privacy of private blockchains, offering tailored solutions for diverse stakeholders in agriculture, and driving the growth of this segment in the global blockchain for sustainable agriculture market. 

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/blockchain-for-sustainable-agriculture-market/purchase-options

By stockholder, the food manufacturers/processors segment accounted for the largest market share in 2023, owing to its pivotal role in ensuring food safety, quality assurance, and compliance with sustainability standards. Food manufacturers and processors utilize blockchain technology to enhance transparency and traceability throughout the supply chain, from sourcing raw materials to delivering finished products to consumers, which is further expected to propel the overall market growth. However, the retail segment is expected to attain the largest CAGR during the forecast period, owing to increasing consumer awareness and demand for transparent and sustainably sourced products. Retailers play a crucial role as intermediaries between food producers and consumers, influencing purchasing decisions based on product quality, ethical considerations, and environmental impact. Thereby, driving the growth of this segment in the global blockchain for sustainable agriculture market. 

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

AgriDigital 

International business machine corporation 

TE-FOOD International GmbH. 

Ripe Technology, Inc. 

OriginTrail 

Amazon Web Services 

AirDAO 

GrainChain Inc. 

Bitfury Group Limited  

The report provides a detailed analysis of these key players in the Blockchain for sustainable agriculture market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.  

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A324108

By application, the product traceability, tracking, & visibility segment accounted for the largest share in 2023, owing to its critical role in enhancing supply chain transparency and accountability. This application of blockchain enables stakeholders to trace the journey of agricultural products from farm to fork, ensuring authenticity, quality, and adherence to sustainability standards, which is further expected to propel the overall market growth. However, the payment & settlement segment is expected to maintain its lead position during the forecast period, owing to its ability to streamline financial transactions and improve efficiency across agricultural supply chains. Blockchain technology facilitates secure and efficient payment processes through smart contracts, which automatically execute agreements based on predefined conditions. Thereby, driving the growth of this segment in the global blockchain for sustainable agriculture market. 

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:

In September 2022, the Swiss startup, AgriLedger launched a blockchain platform to empower smallholder farmers in Kenya. This platform enables farmers to record transactions transparently and securely, facilitating fairer pricing and access to markets. By providing immutable records of agricultural transactions, AgriLedger enhances trust and accountability, promoting sustainable practices and improving livelihoods. 

In February 2023, Nestlé partnered with OpenSC, a blockchain platform, to trace milk products from farms in New Zealand. This collaboration aims to ensure sustainability by tracking milk sources, verifying farming practices, and promoting animal welfare. Consumers access detailed information about the journey of their milk, fostering transparency and encouraging responsible production practices throughout the supply chain. 

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A324108

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

By region, the North America segment held the highest market share in terms of revenue in 2023, owing to to its advanced technological infrastructure, strong regulatory frameworks, and significant investments in agricultural innovation. The region's well-established agricultural sector and emphasis on sustainability have driven widespread adoption of blockchain technology to enhance transparency, traceability, and efficiency in food supply chains anticipated to propel the growth of the market in this region. However, the Asia-Pacific segment is projected to attain the highest CAGR from 2024 to 2032, owing to this region encompasses diverse agricultural landscapes, ranging from large-scale commercial farming to smallholder agriculture, facing pressing challenges such as food security, supply chain inefficiencies, and environmental sustainability. Governments and private sectors across Asia-Pacific are increasingly recognizing the potential of blockchain technology to address these challenges by improving transparency, enhancing traceability, and promoting fair trade practices in agricultural supply chain, further expected to contribute to the growth of the market in this region. 

David Correa
Allied Market Research
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