Food Traceability Market: Current Analysis and Forecast (2022-2028)

The global food traceability market is expected to grow at a significant rate of around 10% during the forecast period. Food traceability refers to the systems that trace the flow of food through the food supply chain, including through production, processing, and distribution, and make it possible to locate a product at any stage of the food supply chain. The rapidly rising number of food industries along with the higher number of foodborne diseases are the important factors contributing to the market growth of food traceable. For instance, as per the WHO, an estimated 600 million - almost 1 in 10 people in the world - fall ill after eating contaminated food and 420 000 die every year, resulting in the loss of 33 million healthy life years. Furthermore, the increasing usage of GM crops and the chemicals in the farmlands to grow food is also responsible for the growth of the market.

Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IdentiGEN, IBM Corporation, Intertek Group, Cognex Corporation, MASS Group, and Zebra Technologies are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst technology type, barcode category to witness higher CAGR during the forecast period"

Based on the technology type, the market has been categorized into radio-frequency identification, barcodes, infrared, biometrics, and global positioning system. Among these, the barcode segment has a significant share in the food traceability market. The barcodes permit faster and more accurate transfer and recording of information benefiting the track of work in process or the movement of assets more quickly and precisely. Furthermore, it also helps the food manufacturing plants in product management and its quality checks. Thus, increasing the market size of the segment in the food traceability market.

Amongst software, the enterprise resource planning segment to hold a significant share in the market in 2020"

Based on the software, the market has been categorized into enterprise resource planning, friction welding, laboratory information management software, warehouse software, and others. Among them, the enterprise resource planning (ERP) segment is expected to have higher during the forecast period. An ERP allows food traceability and food tracking. It allows the user to track the manufacturing, provides information about the cost as well as helps organizations to analyze the cost of the product, and aids in managing manufacturing processes.

"Amongst application, the fresh food produce segment to hold a significant share in the market in 2020"

Based on the application, the market has been categorized into fresh food produce, meat, poultry & seafood products, dairy products, beverage products, and others. Among these, fresh food products have a considerable share in the food traceability market. The rising demand for food containing higher nutritional value and the increasing shift towards Ayurveda & healthy lifestyle are the important factors for the market growth of the segment.

"Asia Pacific to hold a significant share in the market"

For a better understanding of the market adoption of the food traceability center industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. In 2020, Asia Pacific is expected to witness the fastest growth in the global food traceability market. The rising purchasing power and increasing population density in the region are among the important factors responsible for the growth of the food industry in the region. Furthermore, the rising awareness of the consumption of healthy food in the population is also an important factor in the regional growth of the food traceability market.

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

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