Food Traceability Market by Solutions, Technology, Application, Organization Size, Deployment, End User

List of Tables

[186 Pages Report] The Food Traceability Market size was estimated at USD 18.58 billion in 2023 and expected to reach USD 20.28 billion in 2024, at a CAGR 9.27% to reach USD 34.59 billion by 2030.

Food traceability tracks food ingredients and end-products from their source to the point of sale. It helps to ensure that food products have been produced and handled responsibly, safely, and legally. The technology can also help to reduce food waste by providing accountability and transparency in the food supply chain. Traceability is important for consumer safety as it can help identify any potential problems associated with a product before reaching consumers. Additionally, it aids in identifying the source of contaminated products quickly, alerting authorities to take necessary action for mitigating risks, such as product recalls. Traceability assists with compliance with relevant health and safety regulations by providing an audit trail for regulatory bodies to track compliance. Over the years, consumers have been interested in understanding the food industry's production procedures and supply chain transparency, encouraging the end-user adoption of food traceability solutions. Various Governments worldwide have also introduced several initiatives encouraging the adoption of traceability and tracking systems in the food sectors. However, high implementation costs associated with adopting food traceability technology and their potential security risks impede product penetration. Players are constantly working on introducing blockchain and IoT-based products with an improved focus on the security of food traceability products, creating opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 18.58 billion
Estimated Year [2024]	USD 20.28 billion
Forecast Year [2030]	USD 34.59 billion
CAGR (%)	9.27%

Technology: Advancements in Food Traceability Explores the Integration of Barcodes, Biometrics, GPS, Infrared, and RFID Technologies

Barcodes have been used extensively for food traceability as they provide a low-cost, reliable, and efficient way to track products from the field to the store. Biometrics is an emerging technology that employs biometric data, such as fingerprints, voice recognition, or facial recognition, to identify individuals and verify their identity to ensure that products are handled by authorized personnel only and provide accurate records of who handled what product and when. Global positioning systems (GPS) can be used to track the location of goods from source to destination in real time and provide accurate records of where different products have traveled during their journey through the supply chain. Infrared scanners are utilized to detect changes in temperature or humidity within a certain radius and can help in monitoring the condition of goods during transport, storage, and distribution. Radio-Frequency Identification (RFID) is one of the most frequently used food traceability technologies. RFID tags are small electronic devices with integrated chips that store various types of information about a product. They can be scanned remotely using radio waves, so they provide an efficient way to capture data about individual food items in real-time without having direct contact with them.

Application: Crucial Role of Traceability Systems in the Food Supply Chain Enhancing Food Safety and Sustainability

The implementation of traceability systems across various sectors of the food industry plays a pivotal role in monitoring and ensuring the hygiene, safety standards, authenticity, and quality of beverages, dairy products, fruits, vegetables, processed meats, and seafood. These systems are instrumental in verifying that all fresh produce and products adhere to stringent food safety protocols from their origin to the retail environment. Specifically, traceability systems facilitate the enforcement of safe handling practices throughout the lifecycle of fresh and processed meats, enhancing consumer confidence in the products they purchase.

Moreover, traceability systems offer unparalleled transparency within the supply chain, permitting consumers to verify the sustainable sourcing of their food. This aspect is especially significant in the seafood industry, where traceability practices are extensively employed to document the provenance of fish, the methods of transportation used, and the accuracy of product labeling. By providing this level of detail, traceability systems empower consumers with the knowledge to make informed purchasing decisions, further driving the demand for ethically sourced and responsibly handled food products. The integration of traceability technology within the food industry supply chain is essential for upholding food safety, ensuring product authenticity, and supporting sustainable practices. As such, these systems are not only fundamental in safeguarding public health but also in fostering trust and transparency between producers, retailers, and consumers, ultimately contributing to a more sustainable and ethical food industry.

Regional Insights

The food traceability market in the Americas is growing, driven by increasing commercial interest in the food sector and regulatory requirements regarding food safety. End-users across the region are partnering with the market players to deploy traceability solutions to proactively control their safety and quality standards while reducing costs associated with recalls. Regulatory requirements for food traceability have increased in recent years across all regions due to greater public awareness of safety and health concerns related to contaminated foods. Increasing focus on the European food industry is observed to leverage this technology within the food supply chain to reduce fraud and other risks associated with adulteration. Thus, regional players are offering cloud-based solutions and supply chain analytics to improve visibility across the entire food production process. The food traceability market in Asia-Pacific is developing, owing to large-scale industries implementing tracing solutions as a part of their digitalization strategy. Traders are incorporating traceability systems for certain food products as Asia emerges as a major export region. Moreover, recent surveys have demonstrated increased demand from Asian consumers for certification labels such as organic certification or global good agricultural practices (GAP) certification. This has encouraged the region's food industry to establish its food products' safety, quality, and certification through technology-enabled traceability systems.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Food Traceability Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Food Traceability Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Food Traceability Market, highlighting leading vendors and their innovative profiles. These include Ashton Potter (USA) Ltd., Bio-Rad Laboratories, Inc., C.H. Robinson Worldwide, Inc., Caddy Food Safety Management, Carlisle Technology Inc., Cognex Corporation, Compliance by MAPAL, Covectra, Inc., Farmsoft, FoodDocs, FoodLogiQ by Trustwell, International Business Machines Corporation, Invafresh Systems Corp., Logitrack Solutions Inc., Mass Group Inc., Merit-Trax Technologies Inc., Mettler Toledo, Minotaur Software by CAI Software, LLC, Optel Group, Paragon Data Systems, Inc. by Intapp, Inc., ParityFactory, Picarro Inc., Produce Pro Software by Aptean, Safefood 360, SafetyChain Software, Inc., SGS SA, TraceGains, TraceX Technologies Pvt. Ltd., Wherefour, Inc., and Zebra Technologies Corporation.

Market Segmentation & Coverage

This research report categorizes the Food Traceability Market to forecast the revenues and analyze trends in each of the following sub-markets:

Solutions
- Batch & Variance Costing Management
- Food Quality & Safety Management Systems
- Formula Management
- Inventory Control Management
- Transportation & Logistics

Technology
- Barcodes
- Biometrics
- Global Positioning System
- Infrared
- Radio-Frequency Identification

Application
- Beverage Products
- Dairy Products
- Fresh Food Products
- Meat & Poultry Products
- Seafood Products

Organization Size
- Medium & Large Sized
- Small

Deployment
- On-Cloud
- On-Premise

End User
- Food Manufacturers
- Food Retailers
- Food Warehouses & Pack Farms
- Government Departments

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Food Traceability Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Food Traceability Market?

3. What are the technology trends and regulatory frameworks in the Food Traceability Market?

4. What is the market share of the leading vendors in the Food Traceability Market?

5. Which modes and strategic moves are suitable for entering the Food Traceability Market?

Product Code: MRR-4312A385A29E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Consumer demand in understanding production and sourcing in the food industry
  - 5.1.1.2. Government initiatives and programs to promote food traceability
  - 5.1.1.3. Effective use of food traceability in minimizing product recalls
- 5.1.2. Restraints
  - 5.1.2.1. High implementation costs and interoperability issues in food traceability
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in food traceability with AI & blockchain
  - 5.1.3.2. Rise of food traceability as a factor of sustainable consumption
- 5.1.4. Challenges
  - 5.1.4.1. Security issues in food traceability technologies and solutions
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Advancements in Food Traceability Explores the Integration of Barcodes, Biometrics, GPS, Infrared, and RFID Technologies
- 5.2.2. Application: Crucial Role of Traceability Systems in the Food Supply Chain Enhancing Food Safety and Sustainability
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Food Traceability Market, by Solutions

6.1. Introduction
6.2. Batch & Variance Costing Management
6.3. Food Quality & Safety Management Systems
6.4. Formula Management
6.5. Inventory Control Management
6.6. Transportation & Logistics

7. Food Traceability Market, by Technology

7.1. Introduction
7.2. Barcodes
7.3. Biometrics
7.4. Global Positioning System
7.5. Infrared
7.6. Radio-Frequency Identification

8. Food Traceability Market, by Application

8.1. Introduction
8.2. Beverage Products
8.3. Dairy Products
8.4. Fresh Food Products
8.5. Meat & Poultry Products
8.6. Seafood Products

9. Food Traceability Market, by Organization Size

9.1. Introduction
9.2. Medium & Large Sized
9.3. Small

10. Food Traceability Market, by Deployment

10.1. Introduction
10.2. On-Cloud
10.3. On-Premise

11. Food Traceability Market, by End User

11.1. Introduction
11.2. Food Manufacturers
11.3. Food Retailers
11.4. Food Warehouses & Pack Farms
11.5. Government Departments

12. Americas Food Traceability Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Food Traceability Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Food Traceability Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. LSG Sky Chefs Partners with iFoodDS for Enhanced Food Traceability and Safety Compliance
- 15.3.2. SpartanNash Enhances Food Safety and Transparency Through Strategic Partnership with ReposiTrak
- 15.3.3. iFoodDS and IBM Unveil Advanced Traceability Solution to Meet FDA's FSMA 204 Mandates
15.4. Strategy Analysis & Recommendation

16. Competitive Portfolio

16.1. Key Company Profiles
16.2. Key Product Portfolio