The blockchain for sustainable supply chains market was valued at $76.5 million in 2023, and is projected to reach $4.94 billion by 2033, growing at a CAGR of 51.4% from 2024 to 2033.
Blockchain for sustainable supply chains refers to the application of distributed ledger technology (DLT) to enhance transparency, traceability, and efficiency in supply chain processes while supporting environmental, social, and economic sustainability goals. By providing a secure, immutable, and decentralized platform for recording transactions, blockchain helps stakeholders track the provenance of goods, reduce waste, optimize logistics, and ensure ethical sourcing practices.
The blockchain for sustainable supply chains market is witnessing robust growth due to factors such as increase in consumer demand for transparency and traceability and surge in demand for products that align with their values, such as fair labor practices and eco-friendliness. Blockchain enables real-time tracking of goods, ensuring authenticity and compliance with sustainability standards. For instance, Walmart implemented a blockchain-based system using Hyperledger Fabric to track the origin of over 25 products from five different suppliers. This initiative has improved transparency and efficiency in their supply chain, particularly in tracing fresh produce. Furthermore, rise in trend of ethical consumerism, wherein consumers increasingly prefer products that align with their values, such as fair labor practices and eco-friendliness, significantly drives the market growth. For instance, OpenSC, a platform developed by WWF Australia and BCG Digital Ventures, uses blockchain to verify sustainable production claims. It tracks products throughout their supply chain, allowing consumers to access a product's history by scanning a QR code. This initiative enhances transparency and ensures ethical sourcing. In addition, increase in focus of companies to reduce greenhouse gas emissions across their supply chains has fostered the need for blockchain, as it provides precise data on emissions at each stage, helping organizations monitor and meet carbon reduction goals. Moreover, the need to combat counterfeit products, especially in sectors like luxury goods, pharmaceuticals, and electronics, has led to the integration of blockchain to ensure authenticity and accountability, thus fostering the market growth. As per a study published by the Organisation for Economic Co-operation and Development, between 2017 and 2019, perfumery and cosmetics were the most frequently counterfeited categories among dangerous goods, accounting for 32% of global customs seizures. This was followed by clothing at 25% and toys and games at 22%. Automotive spare parts and pharmaceuticals represented 7% and 5%, respectively. This highlights the urgent need for blockchain in supply chain traceability solutions. However, high cost associated with deploying blockchain technology acts as the primary restraint of the global market. In addition, shortage of skilled professionals and limited awareness of blockchain's potential benefits in supply chains restrict widespread adoption, particularly in developing regions. On the contrary, rise in penetration of IoT devices, such as smart sensors and RFID tags, complements blockchain technology by automatically feeding real-time data into the ledger, enhancing supply chain efficiency and accuracy. Such developments are expected to open new avenues for the expansion of the global market during the forecast period.
The global blockchain for sustainable supply chain market is segmented into enterprise size, industry vertical, and region. Depending on enterprise size, the market is bifurcated into large enterprise and SMEs. On the basis of industry vertical, it is segregated into retail, manufacturing, food & beverages, healthcare, oil & gas, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Blockchain for sustainable supply chains refers to the application of distributed ledger technology (DLT) to enhance transparency, traceability, and efficiency in supply chain processes while supporting environmental, social, and economic sustainability goals. By providing a secure, immutable, and decentralized platform for recording transactions, blockchain helps stakeholders track the provenance of goods, reduce waste, optimize logistics, and ensure ethical sourcing practices.
The blockchain for sustainable supply chains market is witnessing robust growth due to factors such as increase in consumer demand for transparency and traceability and surge in demand for products that align with their values, such as fair labor practices and eco-friendliness. Blockchain enables real-time tracking of goods, ensuring authenticity and compliance with sustainability standards. For instance, Walmart implemented a blockchain-based system using Hyperledger Fabric to track the origin of over 25 products from five different suppliers. This initiative has improved transparency and efficiency in their supply chain, particularly in tracing fresh produce. Furthermore, rise in trend of ethical consumerism, wherein consumers increasingly prefer products that align with their values, such as fair labor practices and eco-friendliness, significantly drives the market growth. For instance, OpenSC, a platform developed by WWF Australia and BCG Digital Ventures, uses blockchain to verify sustainable production claims. It tracks products throughout their supply chain, allowing consumers to access a product's history by scanning a QR code. This initiative enhances transparency and ensures ethical sourcing. In addition, increase in focus of companies to reduce greenhouse gas emissions across their supply chains has fostered the need for blockchain, as it provides precise data on emissions at each stage, helping organizations monitor and meet carbon reduction goals. Moreover, the need to combat counterfeit products, especially in sectors like luxury goods, pharmaceuticals, and electronics, has led to the integration of blockchain to ensure authenticity and accountability, thus fostering the market growth. As per a study published by the Organisation for Economic Co-operation and Development, between 2017 and 2019, perfumery and cosmetics were the most frequently counterfeited categories among dangerous goods, accounting for 32% of global customs seizures. This was followed by clothing at 25% and toys and games at 22%. Automotive spare parts and pharmaceuticals represented 7% and 5%, respectively. This highlights the urgent need for blockchain in supply chain traceability solutions. However, high cost associated with deploying blockchain technology acts as the primary restraint of the global market. In addition, shortage of skilled professionals and limited awareness of blockchain's potential benefits in supply chains restrict widespread adoption, particularly in developing regions. On the contrary, rise in penetration of IoT devices, such as smart sensors and RFID tags, complements blockchain technology by automatically feeding real-time data into the ledger, enhancing supply chain efficiency and accuracy. Such developments are expected to open new avenues for the expansion of the global market during the forecast period.
The global blockchain for sustainable supply chain market is segmented into enterprise size, industry vertical, and region. Depending on enterprise size, the market is bifurcated into large enterprise and SMEs. On the basis of industry vertical, it is segregated into retail, manufacturing, food & beverages, healthcare, oil & gas, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
- On the basis of enterprise size, the SMEs segment is expected to dominate the market from 2024 to 2033.
- By industry vertical, the retail segment held the highest market share in 2023, and is expected to maintain its leadership status during the forecast period.
- Region wise, North America was the major revenue contributor in 2023.
Competition Analysis
The major players operating in the global blockchain for sustainable supply chains market include IBM Corporation, Microsoft Corporation, SAP SE, Oracle Corporation, Accenture, Dell Technologies, Walmart, Carrefour, Intel Corporation, and Vechain. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain strong foothold in the global market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Industry Vertical
- Retail
- Manufacturing
- Food and Beverages
- Healthcare
- Oil and Gas
- Others
By Enterprise Size
- Large Enterprise
- SMEs
By Region
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Accenture
- Dell Technologies
- Walmart
- Carrefour
- Intel Corporation
- Vechain
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: BLOCKCHAIN FOR SUSTAINABLE SUPPLY CHAINS MARKET, BY INDUSTRY VERTICAL
CHAPTER 5: BLOCKCHAIN FOR SUSTAINABLE SUPPLY CHAINS MARKET, BY ENTERPRISE SIZE
CHAPTER 6: BLOCKCHAIN FOR SUSTAINABLE SUPPLY CHAINS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
- Accenture
- Dell Technologies
- Walmart
- Carrefour
- Intel Corporation
- Vechain
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2025 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 76.5 million |
| Forecasted Market Value ( USD | $ 4940 million |
| Compound Annual Growth Rate | 51.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
