The Asia Pacific Blockchain for Sustainable Supply Chains Market would 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 would continue to be a dominant market till 2031; thereby, achieving a market value of $143,067.5 Thousands by 2031. The Japan market is registering a CAGR of 49.7% during (2024 - 2031). Additionally, The India market would 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.
Free Valuable Insights: The Global Blockchain for Sustainable Supply Chains Market is Predict to reach USD 1.76 Billion by 2031, at a CAGR of 49.8%
Based on Enterprise Size, the market is segmented into Large Enterprise and SMEs. Based on Industry Vertical, the market is segmented into Retail, Manufacturing, Food & Beverages, Healthcare, Oil & Gas, and Other Industry Vertical. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Enterprise Size
By Industry Vertical
By Country
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