The global demand for Food Traceability Market is presumed to reach the valuation of nearly USD XXX MN by 2026 from USD XXX MN in 2019 with a CAGR of X.XX% under the study period of 2020 - 2026.
Traceability is the ability to track any food through all stages of production, processing and distribution (including importation and at retail). Traceability should mean that movements can be traced one step backwards and one step forward at any point in the supply chain. Food companies consider food traceability system as the best tool to solve all the food related challenges. This system helps the companies to make fresh food products available to their consumer, thus helping in reducing food borne diseases. In the countries like US and UK, consumer are ready to pay more for products having a food traceability system. Technologies like infrared, RFID, biometrics, barcode, NFC and sensors have made food traceability convenient for companies in the food industry.
The global food traceability market is experiencing noteworthy growth, owing to the growing concerns regarding food safety due to rising health consciousness among the people globally. Presently, changing lifestyles of people and their rising per capita income is stimulating health consciousness among the population. Moreover, globally increasing food recalls is also boosting this market. The food traceability market is currently epitomized by high demand and supply, which is fuelling intense competition and various competitive challenges in the market. Companies are significantly investing in R&D to develop more advanced technology. These are some factors driving this global market. However, high costs of food traceability technologies may restrict the market growth.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of food traceability.
The entire food traceability market has been sub-categorized into technology, application, and end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Fresh Food
- Meat and Poultry
- Spices and Condiments
- Food Manufacturers
- Warehouse Food Retailers
- Government Departments
This section covers regional segmentation which accentuates on current and future demand for food traceability market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Food Traceability Market By Revenue (USD MN)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the food traceability market include Honeywell International, C.H. Robinson Worldwide, Bio-Rad Laboratories, DuPont, Cognex Corporation, SGS, A2B Tracking Solutions, Picarro, Motorola Solutions, and Merit-Trax Technologies. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.