Agriculture Supply Chain Management Market Size To Rake USD 2.17 Billion By 2032

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12 Sep 2024

Table of Content

The global agriculture supply chain management market size surpassed USD 0.83 billion in 2022 and it is expected to rake around USD 2.17 billion by 2032, poised to grow at a CAGR of 10% during the forecast period 2023 to 2032.

The increasing demand for transparency regarding food products supplied to consumers is helping drive the agriculture supply chain management industry. The utilization of blockchain technology allows control over the production process, helping determine the condition of the food product during the supply chain. Numerous key market players have made huge investments intending to introduce advanced technologies into the agricultural sector that will help gain consumers' confidence worldwide.

The various processes utilized for managing the demand and supply chain from producer to consumer are handled with the help of agricultural supply chain management systems. The main objective of these systems is to maintain the quantity, quality, and price of the products that the consumer demands.

Report Highlights:

• Based on components, hardware has emerged as the fastest-growing segment because of the increasing demand for technologically advanced components utilized in the hardware. These advanced components manufacture the supply chain management infrastructure that helps support the demand and supply chain.
• Based on the deployment model, on-premise has emerged as the largest segment in the market because of the various features, such as organizing critical data directly from the customer. On-premise equipment displays and collects information, increasing ease of access.
• Based on user type, the large enterprise segment dominated the global agriculture supply chain management market in 2022. These industries can easily afford agriculture supply chain management products & services and handle the high maintenance cost.
• Based on geography, Asia Pacific has emerged as the largest agricultural supply change management market because of the enormous demand driven by a large population pool. Furthermore, increasing exports to economies worldwide is expected to drive the demand for advanced agricultural practices.

Regional Snapshots:

Based on region, Asia Pacific has emerged as the most significant agricultural supply chain management system market because of the massive number of farm products produced and supplied. Multiple key market players have invested heavily to introduce new systems and technology into the agricultural sector, which has helped modernize the demand and supply chain.

Notable growth is expected from Latin America and Middle East countries because of the increasing requirements for various agricultural goods and products. Increasing demand from the domestic sector has emerged as a driving force for the growth of the agricultural supply chain management market.

Agriculture Supply Chain Management Market Report Scope:

Market Dynamics:

Drivers:

Solutions that help optimize the demand and supply of agricultural products because of the increasing demand for goods and materials are expected to drive market growth during the forecast period. Various cloud-based solutions and services help directly manage the supply chain of goods and products from farm to consumer.

The system utilizes several software programs to make the process easier and more accurate. The supply chain visibility is developed in such a format that it will support the market trends by boosting demand. The increasing demand for management solutions in the agricultural sector has emerged as a significant driving force for the growth of the agricultural supply chain management market.

Restraints:

A stringent regulatory framework for agricultural supply chain management is a major restraining factor. Furthermore, a negative impact is observed because of the uncertain regulations related to the blockchain technology market. Data mismanagement adversely affects market development as it directly relates to production decisions made regarding agricultural produce.

Opportunities:

With the rapid transformation of society because of globalization and urbanization, blockchain technology has been integrated to provide maximum coordination between suppliers and consumers. The agricultural supply chain management aims to generate multiple growth avenues to help the global market reach new heights. The increasing demand for management software and solutions will support market growth during the forecast period. The post-pandemic period sustained the market due to increasing visibility, monitoring of complex supplies, and automation of various processes, and this trend will continue during the forecast period.

Challenges:

The cost associated with the utilization of agriculture supply chain management systems is comparatively higher, which proves to be a significant challenge for the market's growth during the forecast period. The maintenance cost of the supply chain management systems has emerged as another obstacle to the market's growth, making it unaffordable for small-scale industries and farmers. The pandemic outbreak also challenged the market's development because of the lack of transportation facilities.

Recent Developments:

• In April 2020, Nestle and IBM collaborated, enabling Nestle to trace the production & supply of its Zoegas coffee brand by utilizing IBM's enterprise blockchain. The packed coffee is provided with a QR code that the consumer can scan to trace the origin of the coffee beans. The food trust enterprise blockchain of IBM keeps a record of the time of harvest, a certificate for transactions regarding specific shipments, the period of roasting, and information regarding the farmers. This collaboration will help Nestle gain an advantage over its competitors.

Major Key Players:

• FCE Group AG
• Agri Value Chain
• Bext360
• Ambrosus
• ChainPoint
• AgriDigital
• eHarvestHub
• Eka
• GrainChain, Inc.
• Geora Ltd.
• IBM
• Trellis Ltd.
• Intellync
• SAP SE
• Proagrica
• Sustainable Agriculture Initiative Platform

Market Segmentation:

By Component

• Solution
• Hardware
• Services

By Solution

• Transportation Management System
• Supply Chain Planning
• Warehouse Management System
• Procurement and Sourcing
• Manufacturing Execution System

By Deployment Model

• On-Demand and Cloud-Based
• On-Premise

By End-User

• Large Enterprises
• Small and Medium Enterprises

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