Global Blockchain In Supply Chain Market Size, Share, Statistics Analysis Report By Component (Platform, Services), By Blockchain Type (Private Blockchain, Public Blockchain, Hybrid and Consortium Blockchain), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises (SMEs)), By Application (Asset Tracking, Product Traceability, Smart Contracts, Payment and Settlement, Risk and Compliance Management, Counterfeit Detection, Other Applications), By Industry Vertical (Manufacturing, Logistics and Transportation, Retail and E-commerce, Healthcare, Oil & Gas, Energy, Other Industry Verticals), Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2025-2034

Report Scope

The Global Blockchain In Supply Chain Market is expected to be worth around USD 95.3 Billion By 2034, up from USD 2.4 Billion in 2024. It is expected to grow at a CAGR of 44.5% from 2025 to 2034.

In 2024, North America held a dominant market position, capturing over a 38.3% share and earning USD 0.91 Billion in revenue. Further, the United States dominates the market by USD 0.76 Billion, steadily holding a strong position with a CAGR of 48.6%.

Blockchain in Supply Chain refers to the use of distributed ledger technology (DLT) to enhance transparency, traceability, and efficiency in supply chain management. Blockchain enables the secure and immutable recording of transactions across a network of computers, which ensures that every step of the supply chain can be traced in real time.

This technology provides a way to verify and authenticate product information, allowing stakeholders to track goods from production to delivery. It can be particularly useful in industries like food, pharmaceuticals, and manufacturing, where authenticity, product provenance, and regulatory compliance are critical. By eliminating intermediaries and enabling direct peer-to-peer transactions, blockchain can significantly reduce delays, errors, and costs, improving the overall efficiency of the supply chain.

The Blockchain in the Supply Chain Market is rapidly expanding as businesses look for ways to optimize their supply chain operations with cutting-edge technology. This growth is driven by increasing demand for improved transparency, cost reduction, real-time data access, and enhanced security in supply chain operations.

With industries such as logistics, pharmaceuticals, and automotive leading the way in blockchain adoption, the market is witnessing a surge in investment from key stakeholders. The strong market demand, coupled with advancements in smart contracts and IoT integration, is fueling the continued expansion of blockchain across supply chains worldwide.

Key Takeaways

• Market Growth: The Blockchain in Supply Chain Market is projected to grow from USD 2.4 Billion in 2024 to USD 95.3 Billion by 2034, at a CAGR of 44.5%.
• By Component: The Platform segment holds the largest share, accounting for 64.8% of the market in 2024.
• By Blockchain Type: Public Blockchain dominates, representing 58.1% of the market, indicating a strong preference for open and transparent blockchain models.
• By Organization Size: Large Enterprises lead blockchain adoption, making up 64.0% of the market share, driven by their ability to invest in advanced technologies.
• By Application: The Product Traceability application is the most prominent, accounting for 24.5% of the market, as businesses focus on ensuring product authenticity and transparency in supply chains.
• By Industry Vertical: Retail and E-commerce lead blockchain adoption in supply chains, contributing 23.9% to the market, fueled by the need for improved inventory management and fraud prevention.
• North America: The region holds the largest market share, with 38.3% of the global market in 2024, driven by strong investments in blockchain technology across various industries.
• US Market: The United States dominates the North American market with USD 0.76 billion in revenue, growing at a remarkable CAGR of 48.6%, driven by continuous innovation and adoption across sectors.

Analyst Viewpoint

The key driving factors for the Blockchain in the Supply Chain Market include a growing need for greater transparency and accountability across supply chains. With increasing consumer demand for information about the origin and quality of products, companies are turning to blockchain for its ability to provide real-time tracking and immutable records of every transaction.

Additionally, the rise of counterfeit goods in industries like pharmaceuticals and luxury goods has made it essential for companies to adopt more secure methods for verifying the authenticity of products. Another important factor is the pressure for cost reduction.

Blockchain enables automation through smart contracts, reducing the reliance on manual processes and intermediaries, thus cutting down operational costs. The increased complexity of global supply chains has also played a role, as businesses seek ways to streamline operations and gain better visibility and control over the entire supply chain process.

The demand for blockchain technology in supply chains is being driven by the growing need for end-to-end visibility and real-time data tracking. Industries such as food and beverage, pharmaceuticals, and retail have been particularly proactive in adopting blockchain to ensure product authenticity, compliance, and safety.

The Blockchain in the Supply Chain Market presents several growth opportunities, particularly as industries continue to explore new applications of this technology. One of the major opportunities lies in the integration of blockchain with IoT to enable real-time tracking of goods and shipments. For instance, sensors attached to products can continuously update blockchain records, giving supply chain managers live updates on their inventory and shipments.

Key Statistics

Key Operational Priorities:

• In a 2023 KPMG survey, 87% of respondents identified supply chain visibility as a key operational priority.

Regional Growth:

• Asia Pacific (APAC) is expected to generate $256 million in revenue by 2024, becoming the largest region for blockchain technology in the supply chain.
• Blockchain spending in China is anticipated to surpass $1.5 billion by 2022, a sharp increase from approximately $80 million in 2017.

Project Analysis:

• An analysis of 271 blockchain projects in the supply chain domain was conducted between May and June 2020, with data collected from 2010 to the first half of 2020.

Regional Analysis

US Region Market Size

In North America, the United States dominates the Blockchain Supply Chain Market, with a market size of USD 0.76 billion in 2024. This dominance is reinforced by the country’s robust technological infrastructure, high levels of innovation, and rapid adoption of blockchain technology across multiple industries. The U.S. holds a strong market position in blockchain solutions, particularly for supply chain management, driven by the increasing need for enhanced transparency, traceability, and security.

The U.S. market is expected to continue expanding at an impressive CAGR of 48.6% from 2024 to 2034, as more businesses, especially in retail, e-commerce, and manufacturing, integrate blockchain to streamline operations, reduce fraud, and ensure product authenticity. The widespread use of public blockchain (which comprises 58.1% of the market) and the adoption of platform-based solutions (holding 64.8% of the market share) contribute significantly to this growth.

Moreover, with blockchain technology’s increasing capability to support product traceability, which accounts for 24.5% of the market application, the U.S. stands at the forefront of enabling better supply chain visibility. As companies in the U.S. continue to leverage blockchain to enhance operational efficiency and compliance, its market share in the North American blockchain supply chain sector is expected to grow even further in the coming years.

North America Market Size

In 2024, North America held a dominant market position in the Blockchain in Supply Chain Market, capturing more than 38.3% of the global market share, with a revenue of USD 0.91 billion. This leadership can be attributed to several factors, including the region’s strong technological infrastructure and high levels of investment in emerging technologies like blockchain.

North American companies are among the early adopters of blockchain for supply chain optimization, with major industries such as retail, logistics, and e-commerce leading the charge. The United States alone contributes significantly to this dominance, generating one of the highest growth rates globally.

The increasing need for transparency, traceability, and efficiency in complex global supply chains is driving this growth. Blockchain provides a reliable solution by enabling real-time data sharing, reducing fraud, and ensuring product authenticity. In North America, companies are also utilizing public blockchain technology, which constitutes 58.1% of the market share, to ensure that supply chain records are immutable and secure.

Furthermore, the region’s focus on regulatory compliance, especially in industries like pharmaceuticals and food safety, has accelerated the adoption of blockchain. With businesses looking to meet stringent regulations and ensure seamless cross-border transactions, blockchain’s ability to offer end-to-end visibility makes it an attractive solution. As a result, North America is expected to maintain its leadership position in the market for the foreseeable future, continuing to drive innovation and adoption of blockchain technology in supply chain management.

By Component

In 2024, the Platform segment held a dominant market position in the Blockchain in Supply Chain Market, capturing more than 64.8% of the overall market share. The dominance of the Platform segment can be attributed to the growing demand for blockchain infrastructure that enables businesses to build, manage, and scale supply chain solutions. Blockchain platforms offer end-to-end solutions for businesses looking to integrate blockchain technology into their operations, enabling them to track products, authenticate transactions, and enhance transparency across the supply chain.

The rise of public blockchain solutions, which form a significant part of this segment, further supports the growth of the platform segment, as it provides a decentralized, secure, and transparent environment for supply chain activities. These platforms also allow seamless integration with other technologies like IoT, AI, and smart contracts, which are crucial for automating and optimizing supply chain processes.

As companies increasingly focus on improving operational efficiency and reducing costs, blockchain platforms offer scalable, secure, and flexible solutions, making them the preferred choice for large enterprises. This trend is expected to continue, with platforms remaining the primary driver of market growth in the coming years.

By Blockchain Type

In 2024, the Public Blockchain segment held a dominant market position, capturing more than 58.1% of the overall Blockchain in Supply Chain Market share. Public blockchains, known for their decentralized and transparent nature, are especially favored in supply chain applications where data integrity, traceability, and security are paramount.

The openness of public blockchains enables all parties in the supply chain to access and verify data, fostering trust and accountability across the network. This transparency helps mitigate fraud, reduce errors, and enhance efficiency by allowing stakeholders to trace every step of a product’s journey in real time.

Public blockchains are also increasingly preferred due to their ability to ensure immutability—once data is recorded, it cannot be altered, making it an ideal solution for verifying the authenticity of goods and transactions.

Additionally, the low barrier to entry and open-source nature of many public blockchains make them highly accessible to businesses of all sizes, further driving their adoption in industries such as retail, e-commerce, and logistics. As blockchain adoption grows, public blockchain solutions will continue to lead the market, especially as companies seek greater transparency and collaboration across their supply chains.

By Organization Size

In 2024, the Large Enterprises segment held a dominant market position in the Blockchain in Supply Chain Market, capturing more than 64.0% of the overall market share. Large enterprises lead this segment due to their substantial resources, enabling them to invest in advanced technologies like blockchain to optimize their supply chains.

These organizations are more likely to adopt blockchain platforms and integrate them into complex, global supply chains where transparency, traceability, and operational efficiency are critical. Blockchain’s ability to automate processes, reduce fraud, and ensure data integrity makes it an attractive solution for large-scale operations in industries like manufacturing, retail, and logistics.

Additionally, large enterprises are well-positioned to navigate the technical complexities and integration challenges associated with blockchain, as they often have the necessary infrastructure and dedicated IT teams.

The scalability, security, and ability to manage vast amounts of data make blockchain an ideal fit for these organizations, further solidifying their leadership in the market. While small and medium-sized enterprises (SMEs) are gradually adopting blockchain solutions, large enterprises’ larger budgets and greater need for efficient, secure supply chains continue to drive their dominance in this market segment.

By Application

In 2024, the Product Traceability segment held a dominant market position in the Blockchain in Supply Chain Market, capturing more than 24.5% of the total market share. Product traceability is one of the most critical applications of blockchain in supply chain management, as it allows businesses and consumers to track the journey of products from raw materials to end-users. This level of transparency helps build trust and ensures the authenticity of goods, particularly in industries like food and beverage, pharmaceuticals, and luxury goods, where provenance and safety are paramount.

The increasing consumer demand for sustainability and ethical sourcing has also fueled the growth of the product traceability segment. With blockchain’s ability to provide a secure, immutable ledger, stakeholders can easily verify the origin and movement of products, reducing the risk of fraud and counterfeiting.

Additionally, regulators in sectors like food safety and healthcare are increasingly requiring transparency, further driving blockchain adoption for traceability purposes. As businesses look to improve operational efficiency, meet regulatory demands, and enhance customer trust, product traceability will continue to be a leading application in the blockchain supply chain market.

By Industry Vertical

In 2024, the Retail and E-commerce segment held a dominant market position in the Blockchain in Supply Chain Market, capturing more than 23.9% of the overall market share. The retail and e-commerce industry is particularly well-suited to blockchain technology due to its heavy reliance on global supply chains, inventory management, and consumer demand for transparency. Blockchain’s ability to offer real-time tracking, secure transactions, and authenticated product provenance is a major advantage for companies in this sector, where ensuring the authenticity of products and timely deliveries is critical.

As consumers become increasingly concerned with the ethics and sustainability of their purchases, blockchain allows retailers and e-commerce platforms to prove the origin and journey of their products, improving customer trust. Additionally, with the rise of online fraud, blockchain provides enhanced security features for payment processing and counterfeit detection, two major concerns in e-commerce.

Retailers are also looking to blockchain to streamline their supply chains by automating processes with smart contracts and reducing the complexity of cross-border transactions. As a result, the Retail and E-commerce sector is expected to continue leading blockchain adoption in supply chain management.

Key Market Segments

By Component

• Platform
• Services

By Blockchain Type

• Private Blockchain
• Public Blockchain
• Hybrid and Consortium Blockchain

By Organization Size

• Large Enterprises
• Small and Medium-Sized Enterprises (SMEs)

By Application

• Asset Tracking
• Product Traceability
• Smart Contracts
• Payment and Settlement
• Risk and Compliance Management
• Counterfeit Detection
• Other Applications

By Industry Vertical

• Manufacturing
• Logistics and Transportation
• Retail and E-commerce
• Healthcare
• Oil & Gas
• Energy
• Other Industry Verticals

Driving Factors

Increased Need for Supply Chain Transparency and Security

One of the main driving factors for the growth of the Blockchain in the Supply Chain Market is the increasing demand for transparency and security in supply chain operations. Businesses across industries are facing growing pressure from consumers, regulators, and stakeholders to provide clear, verifiable information about their products.

Blockchain offers an immutable and transparent ledger, allowing every transaction and movement of goods to be securely recorded. This ensures end-to-end visibility, enabling companies to trace products from the source to the consumer, which is crucial for industries like food and beverage, pharmaceuticals, and luxury goods.

The ability to track the origin and journey of products in real time also helps mitigate the risks of counterfeiting and fraud, particularly in high-value or sensitive goods. Additionally, the shift towards sustainable practices and ethical sourcing is prompting businesses to adopt blockchain to demonstrate the integrity of their supply chains.

As consumer awareness grows, companies are realizing the competitive advantage of providing this transparency. Blockchain ensures that all participants in the supply chain—whether they are manufacturers, distributors, or consumers—can access accurate and trustworthy data, thus improving overall trust and operational efficiency. This growing demand for security and transparency is expected to drive continued market growth.

Restraining Factor

High Implementation Costs

Despite its advantages, one of the key restraining factors for the Blockchain Supply Chain Market is the high initial cost of implementation. Blockchain technology requires substantial upfront investment in infrastructure, software, and specialized talent. Companies must invest in hardware, network security, and other technological components to ensure the system is reliable and scalable. Furthermore, integrating blockchain with existing legacy systems can be a complex and resource-intensive process.

Small and medium-sized enterprises (SMEs) often find it difficult to afford these initial costs, leading to slower adoption rates in certain sectors. While large enterprises with bigger budgets can bear these costs, the financial barrier remains a significant hurdle for many businesses.

Additionally, the training and upskilling of employees to operate blockchain systems add to the overall expenses. Some companies may also face challenges in aligning blockchain with existing regulatory frameworks or industry standards, further complicating the adoption process.

Growth Opportunities

Expansion into Emerging Markets

An exciting growth opportunity in the Blockchain in Supply Chain Market lies in the expansion into emerging markets such as Asia-Pacific (APAC), Latin America, and Africa. These regions are increasingly embracing digital transformation and are showing significant interest in blockchain’s potential to streamline supply chains, reduce fraud, and increase operational transparency. The rapid growth of industries like e-commerce, retail, and manufacturing in these markets presents a significant opportunity for blockchain adoption.

Emerging markets face unique challenges in terms of supply chain inefficiencies, lack of transparency, and corruption. Blockchain can address these issues by providing a decentralized, transparent ledger system that ensures secure tracking and verification of products.

Additionally, the growing penetration of mobile technology and internet access in these regions makes blockchain solutions more feasible and accessible. Governments and regulatory bodies are also recognizing the potential of blockchain in improving governance, enhancing supply chain management, and ensuring product safety.

Challenging Factors

Regulatory Uncertainty and Lack of Standardization

A significant challenge facing the Blockchain in the Supply Chain Market is the regulatory uncertainty and lack of standardization in the technology. While blockchain holds enormous potential to revolutionize supply chains, the regulatory landscape surrounding its use is still developing. Governments and regulatory bodies in many regions have yet to create clear frameworks for the use of blockchain in industries such as finance, healthcare, and logistics.

This regulatory uncertainty can make businesses hesitant to adopt blockchain, as they are unsure about compliance requirements, data privacy laws, and potential legal liabilities. For instance, different countries may have varying laws around data protection, especially concerning the GDPR in Europe, which can complicate blockchain implementation in global supply chains.

In addition, the lack of standardized protocols for blockchain applications makes it difficult for organizations to ensure compatibility and interoperability across different blockchain platforms. Companies using different blockchain systems may struggle to share data effectively or align with each other’s protocols, leading to inefficiencies. Until global standards and regulatory frameworks are established, blockchain adoption in supply chains could face ongoing challenges, delaying its widespread implementation and limiting its potential impact.

Growth Factors

Increasing Demand for Supply Chain Transparency

One of the primary growth factors driving the Blockchain in the Supply Chain Market is the growing demand for transparency and traceability in global supply chains. According to a report, over 60% of consumers are increasingly concerned with the ethical sourcing of products, particularly in industries like food, pharmaceuticals, and luxury goods.

Blockchain’s ability to offer real-time, immutable records enables businesses to trace products from raw materials to finished goods. This has led to a surge in adoption, particularly in retail and e-commerce sectors, which together represent around 24% of the global market share in 2024. Companies like Walmart and Nestlé have already implemented blockchain for product traceability, showcasing the shift towards more transparent operations.

Emerging Trends

Integration of Blockchain with AI and IoT

An exciting emerging trend in the Blockchain in Supply Chain Market is the increasing integration of blockchain with AI and IoT technologies. This convergence is reshaping supply chain management by enabling real-time data analysis and automation. For example, IoT devices can track the movement of goods, while AI can predict demand and optimize logistics routes.

Blockchain ensures that this data is secure and tamper-proof. A key use case of this convergence is in smart contracts that automate processes like payment and shipment tracking, reducing human error and delays.

Companies leveraging these combined technologies can streamline operations, improve efficiency, and reduce operational costs. As AI, IoT, and blockchain technologies become more affordable and accessible, industries like logistics, healthcare, and automotive are expected to see significant adoption, driving further market growth.

Business Benefits

Enhancing Operational Efficiency and Reducing Fraud

The business benefits of blockchain in supply chain management are significant. With 70% of businesses reporting a reduction in fraud and counterfeiting after adopting blockchain, companies are recognizing the technology’s potential to improve security and operational efficiency. Blockchain’s ability to provide an immutable, transparent ledger ensures that data cannot be altered or falsified, reducing the risk of fraud.

Additionally, the use of smart contracts allows for automated and secure transactions, which further streamlines the supply chain process, reducing delays and human errors. Companies also benefit from increased customer trust since blockchain can verify the authenticity of products, a feature particularly valuable in sectors like luxury goods and pharmaceuticals.

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Player Analysis

IBM is one of the leading players in the Blockchain in Supply Chain Market. The company has significantly advanced its blockchain capabilities through its IBM Blockchain platform, which is designed to enhance supply chain transparency and traceability. In recent years, IBM has focused on acquiring and partnering with key firms to strengthen its position.

Oracle has also emerged as a key player in the Blockchain in Supply Chain Market with its Oracle Blockchain Cloud Service, which provides businesses with a secure and scalable platform to manage supply chain operations. The company has been enhancing its offerings with continuous product launches and integrations, aiming to cater to a wide range of industries, from retail to manufacturing.

Amazon Web Services (AWS) is a significant player in the Blockchain in Supply Chain Market, offering blockchain solutions through its Amazon Managed Blockchain service. AWS’s approach is centered around making blockchain technology more accessible to enterprises of all sizes. The company’s blockchain platform supports both Hyperledger Fabric and Ethereum, giving businesses flexibility in how they build and manage blockchain networks.

Top Key Players in the Market

• IBM Corporation
• Oracle
• Amazon Web Services, Inc.
• Foreverhold Ltd.
• Antiersolutions
• Teksun Inc.
• Omnichain Solutions
• Infosys Limited
• TE-FOOD International GmbH
• Huawei Cloud Computing Technologies Co., Ltd.
• Guardtime
• Other Key Players

Recent Developments

• In 2024, IBM expanded its Blockchain for Supply Chain initiatives through new partnerships aimed at enhancing transparency and efficiency across various industries.
• In 2024, Amazon Web Services (AWS) launched an upgraded suite of blockchain tools specifically designed to help companies integrate blockchain into their supply chains more effectively.

Report Scope