Portland, OR, July 04, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Agriculture Supply Chain Management Market by Component (Solution, and Services), Solution Type (Inventory Management Solutions, Fleet Management Solutions, Supplier Management, Market Intelligence, Food Safety & Compliance and Others), Deployment Model (On-premise and On-Demand/Cloud-Based): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global agriculture SCM market was valued at $358.6 million in 2022, and is projected to reach $954.0 million by 2032, registering a CAGR of 10.1% from 2023 to 2032.
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Prime determinants of growth
An increase in the need for demand management solutions among agri-business organizations, an increase in use of cloud-based SCM software, and surge in need for improved supply chain visibility supplement the growth of the agriculture supply chain management market. However, high cost associated with the implementation and maintenance of supply chain management solution and uncertainty in regulations & lack of standards are the factors expected to hamper the growth of the market. In addition, rise in urbanization & globalization and integration of blockchain technology in agriculture supply chain management creates market opportunities for the key players operating in the agriculture supply chain management market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $ 358.6 million |
| Market Size in 2032 | $ 954.0 million |
| CAGR | 10.1% |
| No. of Pages in Report | 280 |
| Segments covered | Component, Solution type, Deployment model, and Region |
| Drivers | Increase in the need for demand management solutions among agri-business organizations Increase in use of cloud-based SCM software Surge in need for improved supply chain visibility |
| Opportunities | Rise in urbanization & globalization Integration of blockchain technology in agriculture supply chain management |
| Restraints | High cost associated with the implementation and maintenance of supply chain management solution Uncertainty in regulations & lack of standards |
Covid-19 Scenario
- The COVID-19 outbreak severely impacted the global agriculture supply chain management market adversely.
- It caused disruptions in the agricultural supply chain due to a lack of supplies from other states, issues in the arrangement of the transport vehicles, transportation restrictions, labor shortage, inefficient cold chain facilities, panic buying, fluctuation in prices, and lack of collectors/aggregators in the market.
- Furthermore, the pandemic had affected the global export and import of agricultural products because of global trade restrictions.
- All these activities were negatively affected the global agriculture supply chain management.
The Solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for nearly two-thirds of the global agriculture supply chain management market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the services segment would display the fastest CAGR of 12.4% during the forecast time period. This is because the adoption of supply chain management software has notably increased, which has resulted in the adoption of supply chain management services across different industry verticals, as it assures effective functioning of platforms and software. Increase in the adoption of supply and demand centered policies and rapid ongoing advancement in the supply chain management software is expected to boost the demand for different services in the upcoming years.
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The others segment to maintain its leadership status throughout the forecast period
Based on solution type, the others segment held the highest market share in 2022, accounting for more than one-third of the global Agriculture Supply Chain Management market revenue and is estimated to maintain its leadership status throughout the forecast period. the same segment is projected to cite the fastest CAGR of 12.3% from 2023 to 2032. This is due to the fact that numerous developments have been carried out by the key players toward the development of services for usage in the agriculture industry, which creates a wider scope for the growth of the market across the globe. Among them, transportation management system, warehouse management system, supply chain planning & others are some of the services which are considered under the scope.
The On-Demand/Cloud-Based segment to maintain its lead position during the forecast period
Based on deployment model, the On-Demand/Cloud-Based segment accounted for the largest share in 2022, contributing to nearly three-fifths of the global Agriculture Supply Chain Management market revenue. The same segment is estimated to maintain its leadership status throughout the forecast period. Moreover, the on-premise segment would cite the fastest CAGR of 11.1% from 2023 to 2032, due to the fact that On-premise supply chain management software can be used to collect, display, and organize important data from customer communication by means of e-mails, calls, and Chatbots using the company’s own IT infrastructure. This allows them to keep the data related to customer requirements in a secure manner and to improve customer satisfaction and long-term engagement by reducing the risk of failure. The adoption of on-premise supply chain management software is high among the heavily regulated industries where storage of sensitive information in a public cloud environment is not allowed. Since most of the cloud-based SCM solutions operate in a public cloud environment, businesses with these constraints adopt on-premise solutions.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global Agriculture Supply Chain Management market revenue, owing to increase in demand for more advanced & efficient supply chain management services to be present across the region. However, the Latin America region is expected to witness the fastest CAGR of 13.2% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to increased presence of numerous companies offering SCM services across the Europe.
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Leading Market Players: -
- Chainpoint, Proagrica
- IBM
- SAP
- Agri Value Chain
- AirDAO
- BEXT360
- FCE Group AG
- Intellync
- EKA
- KPMG
- Geora Ltd
- Grainchain, Inc.
- BlueCircle
- Sustainable Agriculture Initiative Platform (SAI Platform)
- AgriDigital
- Vesatogo Innovations Pvt. Ltd.
The report provides a detailed analysis of these key players of the global agriculture supply chain management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Country/ Region Specific Similar Reports We Have:
United States Agriculture SCM Market Report 2023-2035
North America Agriculture SCM Market Report 2023-2035
Europe Agriculture SCM Market Report 2023-2035
Asia-Pacific Agriculture SCM Market Report 2023-2035
Canada Agriculture SCM Market Report 2023-2035
