Global Food Traceability Market Drivers is Responsible for Increasing Market Share and Forecast 2026
Definition:
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
·
additives
·
other ingredients
·
packaging.
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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Market Drivers:
·
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.
Market Restraints:
·
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:
By Technologies
·
Infrared
·
Biometrics
·
Global Positioning System (GPS)
·
Radio-Frequency Identification (RFID)
·
Barcodes
·
Near Field Communication (NFC)
By End users
·
Warehouse
·
Government Departments
·
Manufacturer
·
Retailer
·
Farmers
·
Defense & Security Departments
·
Other
By Applications
·
Seafood Products
·
Fresh Food & Seeds
·
Beverage Products
·
Meat & Poultry
·
Dairy Products
·
Canned or Bottled Food
·
Other
By Geography
·
North America
·
South America
·
Europe
·
Asia-Pacific
Competitive Analysis:
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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