The Asia Pacific Blockchain for Sustainable Supply Chains Market is expected to witness market growth of 50.6% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Blockchain for Sustainable Supply Chains Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $143.06 millions by 2031. The Japan market is registering a CAGR of 49.7% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 51.6% during 2024-2031.
In addition, the adoption of blockchain technology for sustainable supply chains is gaining momentum across various industries, driven by regulatory pressures, consumer demands, and the need for operational efficiencies. Major retailers and consumer goods companies are leveraging blockchain to provide transparency into the origin and sustainability of their products.
Blockchain adoption in the food industry has grown significantly, driven by concerns about food safety and ethical sourcing. Companies are using blockchain to ensure that products labelled as organic or fair trade truly meet these standards. Blockchain plays a pivotal role in renewable energy supply chains by tracking the production and distribution of green energy.
China’s commitment to building over 10,000 digital workshops and smart factories, coupled with its position as the world’s largest smart manufacturing industry, presents a tremendous opportunity for blockchain to enhance the transparency and traceability of industrial supply chains. With supporting industries such as smart manufacturing equipment and industrial software reaching a value of over 4 trillion yuan in 2022, blockchain can help ensure that every component, from raw materials to finished products, is tracked accurately throughout the manufacturing process. India’s rapidly growing e-retail sector, which is expected to reach $57-$60 billion in 2023, coupled with the nation’s goal to increase e-commerce exports to $200-$300 billion by 2030, has created a dynamic environment for the adoption of blockchain in supply chain management. As online sales in non-grocery retail categories continue to expand, the need for a secure, transparent, and efficient system to track products from manufacturers to consumers becomes increasingly vital. Thus, the convergence of China’s rise in smart manufacturing and India’s rapidly growing e-retail sector presents a strong demand for blockchain solutions in supply chains.
The China market dominated the Asia Pacific Blockchain for Sustainable Supply Chains Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $143.06 millions by 2031. The Japan market is registering a CAGR of 49.7% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 51.6% during 2024-2031.
In addition, the adoption of blockchain technology for sustainable supply chains is gaining momentum across various industries, driven by regulatory pressures, consumer demands, and the need for operational efficiencies. Major retailers and consumer goods companies are leveraging blockchain to provide transparency into the origin and sustainability of their products.
Blockchain adoption in the food industry has grown significantly, driven by concerns about food safety and ethical sourcing. Companies are using blockchain to ensure that products labelled as organic or fair trade truly meet these standards. Blockchain plays a pivotal role in renewable energy supply chains by tracking the production and distribution of green energy.
China’s commitment to building over 10,000 digital workshops and smart factories, coupled with its position as the world’s largest smart manufacturing industry, presents a tremendous opportunity for blockchain to enhance the transparency and traceability of industrial supply chains. With supporting industries such as smart manufacturing equipment and industrial software reaching a value of over 4 trillion yuan in 2022, blockchain can help ensure that every component, from raw materials to finished products, is tracked accurately throughout the manufacturing process. India’s rapidly growing e-retail sector, which is expected to reach $57-$60 billion in 2023, coupled with the nation’s goal to increase e-commerce exports to $200-$300 billion by 2030, has created a dynamic environment for the adoption of blockchain in supply chain management. As online sales in non-grocery retail categories continue to expand, the need for a secure, transparent, and efficient system to track products from manufacturers to consumers becomes increasingly vital. Thus, the convergence of China’s rise in smart manufacturing and India’s rapidly growing e-retail sector presents a strong demand for blockchain solutions in supply chains.
List of Key Companies Profiled
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Accenture PLC
- Dell Technologies, Inc.
- Intel Corporation
- Walmart, Inc.
- Bitfury Group Limited.
- OriginTrail
Market Report Segmentation
By Enterprise Size- Large Enterprise
- SMEs
- Retail
- Manufacturing
- Food & Beverages
- Healthcare
- Oil & Gas
- Other Industry Vertical
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Blockchain for Sustainable Supply Chains Market by Enterprise Size
Chapter 6. Asia Pacific Blockchain for Sustainable Supply Chains Market by Industry Vertical
Chapter 7. Asia Pacific Blockchain for Sustainable Supply Chains Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Accenture PLC
- Dell Technologies, Inc.
- Intel Corporation
- Walmart, Inc.
- Bitfury Group Limited.
- OriginTrail
Methodology
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