Food Safety
search
cart
facebook twitter linkedin
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Food Safety
  • NEWS
    • Latest News
    • White Papers
  • PRODUCTS
  • TOPICS
    • Contamination Control
    • Food Types
    • Management
    • Process Control
    • Regulatory
    • Sanitation
    • Supply Chain
    • Testing and Analysis
  • PODCAST
  • EXCLUSIVES
    • Food Safety Five Newsreel
    • eBooks
    • FSM Distinguished Service Award
    • Interactive Product Spotlights
    • Videos
  • BUYER'S GUIDE
  • MORE
    • ENEWSLETTER >
      • Archive Issues
      • Subscribe to eNews
    • Store
    • Sponsor Insights
  • WEBINARS
  • FOOD SAFETY SUMMIT
  • EMAG
    • eMagazine
    • Archive Issues
    • Editorial Advisory Board
    • Contact
    • Advertise
  • SIGN UP!

Study: Blockchain to save food industry $31B by 2024

Research found that IoT and blockchain will add significant value to players involved in the supply chain, from farmers to retailers and consumers.

default supply chain with trucks
December 11, 2019

New data from Juniper Research, London, shows that blockchain will enable $31 billion in food fraud savings globally by 2024 by immutably tracking food across the supply chain. Substantial savings in food fraud will be realized from 2021 and compliance costs will be reduced by 30% by 2024.

The new research, “Blockchain: Key Vertical Opportunities, Trends & Challenges 2019-2030,” revealed that blockchain, used with Internet of Things (IoT) sensors and trackers, will reduce retailers’ costs by streamlining supply chains, thus offering simpler regulatory compliance and efficient food recall process.

Blockchain and IoT

Building on their respective strengths, blockchain and IoT can revolutionize the food industry. While IoT solutions link the physical and digital worlds primarily via location tracking sensors and temperature and humidity monitoring, blockchain provides a platform where this data can be stored and accessed by every player in the process.

Research found that IoT and blockchain will add significant value to players involved in the supply chain, from farmers to retailers and consumers. By replacing lengthy procedures with automated smart contracts, blockchain and IoT bring cost reductions, risk mitigation and transparency to supply chains. This research recommends that blockchain vendors seek IoT partnerships to appeal to stakeholders across the food production market.


Track-and-trace solutions lead the way

Research also found that leading players in the food provenance space are leveraging their robust blockchain and IoT solutions.

“Today, transparency and efficiency in the food supply chain are limited by opaque data, forcing each company to rely on intermediaries and paper-based records,” says Dr Morgane Kimmich, research author. “Blockchain and the IoT provide an immutable, shared platform for all actors in the supply chain to track and trace assets, saving time, resources and reducing fraud.”

 

 

This article was originally posted on www.refrigeratedfrozenfood.com.
KEYWORDS: blockchain technology Internet of Things supply chain trends track-and-trace tracking solutions transparency

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • people holding baby chicks

    Serovar Differences Matter: Utility of Deep Serotyping in Broiler Production and Processing

    This article discusses the significance of Salmonella in...
    Food Type
    By: Nikki Shariat Ph.D.
  • woman washing hands

    Building a Culture of Hygiene in the Food Processing Plant

    Everyone entering a food processing facility needs to...
    Food Prep/Handling
    By: Richard F. Stier, M.S.
  • graphical representation of earth over dirt

    Climate Change and Emerging Risks to Food Safety: Building Climate Resilience

    This article examines the multifaceted threats to food...
    Best Practices
    By: Maria Cristina Tirado Ph.D., D.V.M. and Shamini Albert Raj M.A.
Manage My Account
  • eMagazine Subscription
  • Subscribe to eNewsletter
  • Manage My Preferences
  • Website Registration
  • Subscription Customer Service

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Food Safety Magazine audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Food Safety Magazine or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Two men standing in a produce storage facility having a discussion.
    Sponsored byOrkin Commercial

    Staying Compliant With FSMA

  • Deli Salads
    Sponsored byCorbion

    How Food Safety is Becoming the Ultimate Differentiator in Refrigerated and Prepared Foods

Popular Stories

Corporate manager talking with factory employees

Turning Resistance into Opportunity: Motivating Change in the Food Industry

Image of baby being fed infant formula

HHS Budget Request Beats Familiar Drum

Two men standing in a produce storage facility having a discussion.

Staying Compliant With FSMA

Events

June 26, 2025

How to Design and Conduct Challenge Studies for Safer Products and Longer Shelf Life

Live: June 26, 2025 at 2:00 pm EDT: During this webinar, attendees will learn how to conduct challenge studies for microbial spoilage and pathogen growth, including the common challenges encountered, laboratory selection, and use of predictive models.

July 15, 2025

Hygienic Design Risk Management: Industry Challenges and EHEDG Guidance

Live: July 15, 2025 at 11:00 am EDT: From this webinar, attendees will learn the importance of hygienic design to ensure food safety and sanitation effectiveness.

May 11, 2026

The Food Safety Summit

Stay informed on the latest food safety trends, innovations, emerging challenges, and expert analysis. Leave the Summit with actionable insights ready to drive measurable improvements in your organization. Do not miss this opportunity to learn from experts about contamination control, food safety culture, regulations, sanitation, supply chain traceability, and so much more.

View All

Products

Global Food Safety Microbial Interventions and Molecular Advancements

Global Food Safety Microbial Interventions and Molecular Advancements

See More Products
Environmental Monitoring Excellence eBook

Related Articles

  • default supply chain with trucks

    Study: 20% of top global grocers will use blockchain for food safety, traceability by 2025

    See More
  • default-food-safety-image.jpg

    Study: Personal protective equipment market to exceed $70 billion by 2024

    See More
  • tracking produce

    Blockchain is the tracking method preferred by industry right now

    See More
×

Never miss the latest news and trends driving the food safety industry

eNewsletter | Website | eMagazine

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing