The global blockchain in agriculture market size is expected to reach US$ 2068.5 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 41.00% CAGR between 2019 and 2029. According to the report, increasing cases of food contamination and food scams in the agricultural sector giving rise to growth of transparent supply chain methods; this factor is expected to act as a driver for the market growth. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market. Blockchain technology is revolutionizing the food and agriculture sectors by enhancing the decisionmaking capabilities of organizations. According to the FAO, about one-third of the food produced worldwide is wasted each year, which calls for a need to estimate and control the real supply and demand of food items so that they reach the poor. These problems can be tackled easily and efficiently using the blockchain network. Get | Download Sample Copy with Graphs & List of Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-11460 It includes in-depth insights into the blockchain in agriculture market. Some of these are:
The estimated value of the market was at US$ 66.6 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
Asia Pacific is a leading producer of farm products and foodstuffs. Which means the risk of food contamination and fraud in the supply chain in this area is higher.
The majority of Asia-Pacific countries export their food products to other nations. For example, most Asian countries export fruits and vegetables to European countries, as the highest food traceability requirements in this area are being witnessed.
During the forecast era, the application and solution provider segment is expected to rise to the highest CAGR.
The hacking and piracy of information available on blockchain networks is likely to curb business growth.
In terms of provider, the middleware provider segment is forecast to remain dominant through the course of the report’s forecast period.
Production and Distribution Impacted Due to COVID-19 Outbreak A preliminary picture of the aftermath emerges with the global pandemic of COVID-19 causing an ongoing crisis, of late. Stay-at-home orders and full lockdowns that initially resulted in a sudden increase in the blockchain consumer footprints on the agricultural sector, culminating in many logistical challenges and then a normal sales drop. Market scenes of growth, distribution, sales, and import-export are thus largely hampered. The novel coronavirus epidemic has undoubtedly led to a slump in sales, not because of the scanty stock but because of the disconcerted production and distribution chains. Who is Winning?