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.
For food processing businesses, traceability should extend to being able to identify the source of all food inputs such as:
- raw materials
- other ingredients
Analysis of Global Food Traceability Market report:
Global food traceability market is expected to rise to an estimated value of USD 24.49 billion by 2026, registering a substantial CAGR of 9.30% during the forecast period of 2019-2026. This rise in market value can be attributed to rising need of its applications in various fields such as packaging, logistics, retail, storage, and handling.
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- Government rules and legislative framework acts as a driver and support the effect of food traceability market
- The ability to trace contamination and assist product call lead to the growth of tracking technologies from developing countries
- Technology advancement and globalization of food products also drives the market growth.
- There are no strict laws in the developing countries pertaining to food traceability market which acts as restraints.
- Increasing concern about data and privacy issue among population is restraining the market growth
- High price of the tracing system is another factor restraining the growth of this market.
Leading Key players profiled in this report are:
Few of the major competitors currently working in the global food traceability market are Honeywell International Inc., DuPont, IBM Corporation., United Electronics Co. L.L.C.., MASS Group., Merit-Trax Technologies, C.H. Robinson Worldwide, Inc., Bar Code Integrators, Inc., Bio-Rad Laboratories, Inc., Carlisle Technology, Cognex Corporation, Picarro, Inc., SGS SA, Thermo Fisher Scientific, Zebra Technologies Corp., Datalogic S.p.A., FoodLogiQ, Infor., Mar-Kov Computer Systems Inc., STID, Impinj, Inc. and others.
Global Food Traceability Market Segmentation:
- Global Positioning System (GPS)
- Radio-Frequency Identification (RFID)
- Near Field Communication (NFC)
By End users
- Government Departments
- Defense & Security Departments
- Seafood Products
- Fresh Food & Seeds
- Beverage Products
- Meat & Poultry
- Dairy Products
- Canned or Bottled Food
- North America
- South America
Global food traceability market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of food traceability market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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The Global Food Traceability Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Food Traceability Market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.
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