Global Food Traceability Market Forecast to 2028
The global food traceability market size reached USD 4.54 Billion in 2020 and is expected to register a revenue CAGR of 10.2%, during the forecast period, according to latest analysis by Emergen Research. Some of the major factors driving global food traceability market revenue growth include increasing deployment of traceability solutions to digitize, secure, and leverage valuable data, thereby enabling safe and sustainable transparency in the supply chain and for tracking and tracing products flow – from raw materials to consumers – and more innovative, interoperability, and efficiency. In addition, rising need to increase quality control systems and reduce risks are other factors expected to continue to boost revenue growth of the market in the near future. Quality control in food traceability systems can enable evaluation of food quality along supply chain stages and aids in enhancing customer experience and satisfaction.
The Food Traceability Market research report is a comprehensive and vital document encompassing business strategies, qualitative and quantitative analysis, and emerging trends of the global Food Traceability market. The report offers in-depth research and assessment of the key elements of the global Food Traceability market. The research analysts have formulated this report through thorough primary and secondary research with a detailed analysis of the drivers, restraints, challenges, trends, and opportunities to provide a panoramic view of the Food Traceability market.
Continuous consumer demand for more transparency related to food product aspects to be provided on product labels – from origin of raw materials to agricultural practices and ingredients used in the production of food products – is expected to support market growth going ahead. Raw material traceability solutions provide complete visibility, thereby enabling consumers to know producer details with socio-economic profile information, farming practices, and potential human and environmental impact, and deployment of these solutions is expected to continue to incline and in turn, boost , market growth.
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The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Food Traceability market.
Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key Players operating in the industry are:
Honeywell International Inc., Cognex Corporation, Keyence Corporation, Bext360 Inc., Foodlogiq LLC, TraceOne Inc., Traceall Global Limited, Merit-Trex Technologies Inc., TE-Food Enterprise, and Carlisle Incorporated.
Emergen Research has segmented the global food traceability segments on the basis of equipment, software, technology, application, end-use, and region:
Equipment Outlook (Revenue, USD Billion; 2018–2028)
- Sensors
- Thermal Printers
- Tags & Labels
- PDA with GPS
- 2D & 1D Scanners
- Others
Software Outlook (Revenue, USD Billion; 2018–2028)
- Warehouse Software
- Laboratory Information Management Software (LIMS)
- Enterprise Resource Planning (ERP)
- Others
Technology Outlook (Revenue, USD Billion; 2018–2028)
- GPS
- Infrared
- RFID/RTLS
- Barcode
- Biometrics
Application Outlook (Revenue, USD Billion; 2018–2028)
- Dairy
- Fisheries
- Beverages
- Fresh Produce & Seeds
- Meat & Livestock
- Others
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Food Retailers
- Defense
- Food Manufacturers
- Warehouse
- Government
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The Global Food Traceability Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Food Traceability market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The all-inclusive report on the Global Food Traceability Market added by Emergen Research demonstrates that the global Food Traceability market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Food Traceability market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
Radical Features of the Food Traceability Market Report:
- The report encompasses Food Traceability market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
- An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
- Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
- Supply chain analysis along with technological advancements offered in the report
- The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Food Traceability industry
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