IMARC Group’s latest research report, titled “Food Traceability Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global food traceability market reached a value of US$ 16.46 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.22 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027. Food traceability represents the various systems and processes that assist in tracking the activity of a food product and its ingredients throughout the supply chain. It involves linking and documenting the processing, production, distribution, etc., of various food items. Food traceability can be done through several mediums, such as RFID/RTLS, global positioning system (GPS), barcodes, infrared, biometrics, etc. It aids government bodies in tracing procedures during the outbreak of a foodborne illness to find the source of the ailment quickly and gauge where the contamination may have occurred or spread. As a result, food traceability finds widespread applications among warehouses, pack farms, food manufacturers, food retailers, etc.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by technology, equipment, application and end user.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Food Traceability Market
- Strategies of major players and product offerings
The escalating number of deaths on account of contamination in various ingredients is among the primary factors driving the food traceability market. Besides this, the elevating demand for transparent information about the entire food chain, supported by modern tracking and tracing methods, is further augmenting the market growth. Apart from this, food traceability is a part of an overall cost-effective quality management system that aids in the continuous minimization of the impact of safety hazards, which is also catalyzing the global market. Moreover, these systems assist in preventing fraud and enhancing the capacity to better tackle outbreaks, which is acting as another significant growth-inducing factor. Furthermore, the introduction of blockchain technologies that improve the ability to validate and authenticate food origin and create brand credibility is expected to bolster the food traceability market in the coming years.
Key Players Included in Global Food Traceability Market Research Report:
- Bar Code Integrators Inc.
- C.H. Robinson Worldwide Inc.
- Carlisle Technology
- Cognex Corporation
- FoodLogiQ
- Honeywell International Inc.
- Impinj Inc.
- International Business Machines Corporation
- MASS Group
- OPTEL Group
- SGS S.A.
- Zebra Technologies Corporation.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Technology:
- RFID/RTLS
- Global Positioning System (GPS)
- Barcode
- Infrared
- Biometrics
Breakup by Equipment:
- PDA with GPS
- Thermal Printers
- 2D and 1D Scanners
- Tags and Labels
- Sensors
- Others
Breakup by Application:
- Meat and Livestock
- Fresh Produce and Seeds
- Dairy Products
- Beverage Products
- Fisheries
- Others
Breakup by End User:
- Food Manufacturers
- Warehouse/Pack Farms
- Food Retailers
- Government Departments
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Food Traceability Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Food Traceability Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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