Market Research Report
Europe Food Traceability Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||909772|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Europe Food Traceability Market Forecast 2019-2027|
|Published: September 2, 2019||Content info: 112 Pages||
According to Inkwood Research, the Europe food traceability market is anticipated to grow with a CAGR of 4.30% from 2019 to 2027. The European market accounted for $XX million in terms of revenue in 2018 and is predicted to generate a value of $XX million by the end of 2019-2027. The market is primarily impacted by the wide range of applications of traceability systems in various food types such as meat & livestock, dairy, beverages, seeds, and others. Also, the technological developments and emergence of new products are further aiding the growth of the food traceability market in the region.
Spain, France, Germany, Italy, and the United Kingdom are the countries analyzed in the Europe food traceability market. The report also analyzed the Rest of Europe regional segment that includes other remaining European countries. The large food processing industry and the development of new food products in Germany are one of the major factors driving the growth of food traceability market in the country. The advancement of new traceability technologies and the rising food safety concerns is further boosting the market growth. Also, the rising benefits of traceability systems such as identification of false packaging and defective labeling of food products, among other benefits resulted in the large scale adoption of food traceability systems & solutions. Thus, due to the factors mentioned above, the food traceability market is showcasing growth potential in the region.
Some of the eminent players in the food traceability market are International Business Machines Corporation, Motorola Solutions Inc., Zebra Technologies Corporation, Mass Group Inc., SGS SA, and others. The dominant players follow strategies like acquisitions, joint venture, product launch, and expansion, among others to maintain a stronghold in the market.