The global agriculture supply chain management market has experienced its share of ups and downs, but is now on a path to significant growth. The market, estimated to be around US$750 million as of 2021, is poised to witness strong double-digit growth in the coming years. This growth has been driven by increasing demand for agricultural products, adoption of advanced farming techniques, and rapid penetration of next-generation technologies such as AI and blockchain. Favorable government initiatives are also contributing to increased adoption of supply chain management (SCM) across the agriculture industry, including the practice of contract farming of vegetables and fruits. A recent comprehensive report delves into the agricultural supply chain management industry to closely examine its current development and predict its future progression.
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Key findings of the report
The agriculture supply chain management market, estimated at around US$ 750 million in 2021, is poised to witness strong double-digit growth in the near term.
Primary research findings predict more than 10% revenue growth for the agricultural supply chain management industry, indicating a promising outlook.
The rapid growth in cloud SCM adoption is expected to bode well for the expansion of the agricultural supply chain management market, further fueling its progress.
Asia Pacific, led by China and India, remains at the forefront of the market, presenting lucrative opportunities for growth and development.
The need for greater visibility in the supply chain
In the agriculture sector, the need for supply chain visibility continues to escalate as stakeholders focus on mitigating disruptions, increasing agility and meeting customer demands with data-driven insights. Implementing agricultural supply chain management solutions empowers managers to oversee ongoing operations, promptly address underperforming activities, and optimize resource allocation to resolve issues and adapt to changing conditions. By providing data-driven and reliable solutions, agricultural supply chain management increases production output and ensures timely delivery of product to customers, elevating the overall customer experience in terms of quantity, quality, price and on-time delivery. This emphasis on supply chain visibility is a significant driver for the growth of the agricultural supply chain management market on a global scale.
The growing integration of Blockchain
The agriculture supply chain management market is experiencing increasing integration of blockchain technology as companies seek to minimize transportation costs and improve operational efficiency. Blockchain’s secure and transparent recording of transactions between parties eliminates the need for intermediaries, increasing visibility and traceability of critical aspects such as inventories, farm status and agricultural contracts. The integration of blockchain technology bodes well for the growth and advancement of the agricultural supply chain management market.
Increasing cloud-based deployments in the agriculture value chain
Across the agriculture value chain, there is a marked increase in the adoption of cloud-based software, offering operational and economic benefits over traditional on-premise setups. Reduced setup costs and pay-per-use licensing contribute to cost reduction and streamlined processes, making cloud agriculture supply chain management an attractive choice. Service providers are actively improving their current portfolios, further reducing the costs of their solutions and driving the adoption of cloud SCM in the agriculture industry.
Growth opportunities across regions
Asia Pacific will dominate as a profitable region
The Asia Pacific region, led by dynamic markets such as China and India, represents high-growth profitability for the agricultural supply chain management market. Advances in agricultural practices and strong government support for technology integration create a favorable landscape for growth in the region. Emerging economies offer attractive revenue opportunities, strengthening Asia Pacific’s position as a major driver of the agricultural supply chain management market in the coming years.
Agriculture Supply Chain Management Market: Competitive Landscape
In the fiercely competitive landscape of the agricultural supply chain management market, key players such as FCE Group AG, Bext360, ChainPoint, Agri Value Chain, GarainChain Inc., Intellync Inc. and AgriDigital are actively pursuing strategic partnerships, collaborations and alliances to strengthen their base. By embracing innovative technologies like blockchain, these companies are focused on improving efficiency by reducing transportation costs, driving continuous innovation in the industry.
As the agriculture industry continues to evolve, the adoption of supply chain management solutions and cutting-edge technologies will be essential in ensuring sustainable growth and meeting the evolving demands of a dynamic global marketplace. The future of the agricultural supply chain management industry holds great promise, with numerous growth opportunities across regions, particularly in the Asia Pacific region.
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