New York, March 08, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Blockchain In Agriculture And Food Supply Chain Global Market Report 2021: COVID-19 Growth And Change” – https://www.reportlinker.com/p06033652/?utm_source=GNW
87 million in 2020 to $189.48 million in 2021 at a compound annual growth rate (CAGR) of 47%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $886.18 million in 2025 at a CAGR of 47.1%.
The blockchain in agriculture and food supply chain market consists of sales of blockchain services in the agriculture and food supply chain by entities (organizations, sole traders and partnerships) that provide blockchain services to the agriculture and food supply chain.Blockchain technology enables the traceability of information in the food supply chain and thus helps improve food safety.
It also provides a secure way of storing and managing data, which facilitates the development and use of data-driven innovations for smart farming and smart index-based agriculture insurance.
The blockchain in agriculture and food supply chain market covered in the report is segmented by type into public blockchain, private blockchain,…