Agriculture Supply Chain Management Market

Preliminary research of Fairfield Market Research indicates a promising growth outlook for global agriculture supply chain management market during the course of next few years.

Key Report Findings

• The approximately US$750 Mn market for agriculture supply chain management (as of 2021) all set to see strong, double-digit growth
• Primary research findings anticipate more than 10% revenue growth for agriculture supply chain management industry
• Rapid growth in cloud SCM adoption to bode well for expansion of agriculture supply chain management market
• Asia Pacific to remain at the forefront, led by China, and India

Market Analysis in Brief

The worldwide agriculture supply chain has witnessed ample ups and downs over the recent past. The agriculture supply chain management market is likely to rise high in the wake of exploding demand for agricultural products, growing implementation of advanced farming techniques, brisk penetration of next-gen technologies like AI and blockchain, and favorable government initiatives. While agricultural companies seek a more efficient integration with supply chain management infrastructure, all the participants in agriculture industry are contributing toward soaring demand for SCM adoption, one of which also includes contractual farming of vegetables, and fruits. The report would examine the agriculture supply chain management industry closely to track its current development and project the futuristic progression in near term.

Growth Drivers

Need for Greater Visibility in Supply Chain

The need for supply chain visibility in the agriculture sector continues to increase with an emphasis on mitigating disruptions, enabling agility, increasing speed and meeting demands of customers using data driven results. The supply chain management solution in the agriculture sector can facilitate managers to supervise ongoing operations and take necessary action on underperforming activities. In addition, agriculture supply chain management also enables chain managers to redirect resources and resolve problems and process alterations. Furthermore, it also provides data driven and reliable solutions thus facilitating effective production output and monitoring supply of products to customers from farms thus enhancing the customer experience with regards to quantity, quality, price, and timely delivery. This will bolster the growth of agriculture supply chain management market revenue.

With high visibility in the supply chain, the concerned personnel would be able to achieve improved customer service along with cost controls by managing inventory in motion, limiting disruptions, by mitigating risks and carrying out proactive status updates. In wake of the importance of agriculture supply chain management solution, companies are collaborating with technology providers to achieve improved efficiency. For instance, in 2021, Genesis Feed Technologies, and AgriDigital entered a partnership to participate in Seed to Feed Initiative. This project resulted in further enhancement of supply chain logistics by leveraging technology that provided real time insights across the entire value chain. In this backdrop, rising emphasis on visibility in supply chain remains instrumental in driving the growth of the agriculture supply chain management market on the global front.

Growing Integration of Blockchain

Companies are leveraging the blockchain technology to minimize transportation costs and improve efficiency. Blockchain can record several transactions between parties in a safe manner. Moreover, it also eliminates the requirement of intermediaries, which were previously employed as third parties to record, verify and coordinate all transactions by sharing all databases. With the proliferation of blockchain in the agriculture supply chain management, greater visibility and traceability about inventories, farm status and agricultural contracts among others can be obtained. That said, the integration of blockchain in the supply chain in agriculture domain is likely to augur well for the growth of the agriculture supply chain management market.

Increasing Cloud-based Deployments in Agriculture Value Chain

Increasing adoption of cloud-based software has been witnessed in the agriculture supply chain management market. This can be attributed towards several operational and economic benefits offered by cloud systems as compared to an on-premises setup. Moreover, cloud agriculture supply chain management requires minimal setup and offers pay per usage license. This facilitates in reducing the overall costs of businesses alongside transforming their processes. In addition, providers of agriculture supply chain management are focused on upgrading their current portfolio which is likely to further reduce the costs of their solutions.

For instance, in 2021, FCE Group AG partnered with Synergos-Nigeria. This partnership aims to enhance the agricultural produce in Nigeria. Under this partnership, around 45,000 farmers received digital tools with an access to the cloud platform for supply chain traceability, digital identification along with payment system covering alternate methods of payment. This considerably improved the living conditions and food security in Nigeria and transformed the agricultural practices. Other benefits such as fast deployment, improved visibility and higher flexibility continue to fuel the adoption of cloud SCM, in turn significantly contributing towards the growth of the agriculture supply chain management market.

Growth Opportunities Across Regions

Asia Pacific to Prevail as a Lucrative Region

The Asia Pacific region is poised to showcase high growth lucrativeness for the agriculture supply chain management market. This is mainly owing to the growth in the agriculture sector coupled with advancements in agri practices backed by willingness of farmers and companies to adopt and leverage new age technology. Furthermore, emerging economies such as India, and China are expected to prevail as attractive revenue pockets owing to increasing government support to develop and integrate technology in the agriculture supply chain. This is expected to sketch an opportunistic landscape for the agriculture supply chain management market in the region in the forthcoming years.

Agriculture Supply Chain Management Market: Competitive Landscape

A few of the major players in the agriculture supply chain management market include FCE Group AG, Bext360, ChainPoint, Agri Value Chain, GarainChain Inc., Intellync Inc., and AgriDigital. Since the proliferation of technology in the agriculture domain, players have been focusing on advancing their current scenario by opting new strategies. A few of these include partnerships, collaborations, and alliances. Companies in the agriculture supply chain management industry are also employing new age technologies such as the blockchain ledger in a bid to enhance efficiency while lowering transportation costs.

Recent Notable Developments

• Geora Ltd., and AgriDigital entered a partnership in June 2021. This partnership was mainly to develop alongside integrating the blockchain technology in their products. With this, farmers would be able to efficiently track all supply chain variables while managing finances
  
  
• In May 2022, Star Index and Intellync partnered to combine expertise of Star Index in the supply chain management with Intellync’s agricultural supply chain knowledge. This partnership aims to develop a unique software solution which can capture and report data along with reducing resource requirements thus facilitating improvements in the agri-food business supply chains

Regional Classification of Global Agriculture Supply Chain Management Market is Listed Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

 Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Agriculture Supply Chain Management Market

• Agriculture Supply Chain Management Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2019 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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