Published Date : 16 Aug 2023
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.
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 Revenue in 2023||USD 0.91 Billion|
|Projected Forecast Revenue in 2032||USD 2.17 Billion|
|Growth Rate from 2023 to 2032||CAGR of 10%|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
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.
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.
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.
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.
Major Key Players:
By Deployment Model
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