Food Traceability Market Demand, Growth Opportunities, Size, Share, Competitive Analysis and Market Trends by 2023

The interdependence, integration, and globalization of food production and distribution systems are the key growth drivers for the global food traceability market. The outbreak of foodborne diseases is becoming serious concern for the consumers, which is also drawing the governments’ attention. This has led to increasing deployment of technology in food tracing. Among regions, Europe dominates the global food traceability market, followed by North America.

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Food traceability is dependent on corrective actions to be implemented, when food reaching the consumers lacks defined standards. The food traceability system employed by a government agency or food business identifies and isolates the contaminated products from the standard batch. It can be involved at every level of the food supply chain, beginning from procurement of raw materials to packaging and storage of food items.

Food traceability system has the characteristic of tracking the food one step forward and one step backward at any point in the supply chain. The companies involved in the food business maintain records related to identification of producers, suppliers, and consumers. The system identifies and filters the non-standard food products through these records.

Traceability in domestic supply chains is easier, as production and consumption occurs at the same place. However it is complex for the supply chains including international trade. For instance, the traceability through hazard analysis and critical control points (HACCP)-based systems requires elaborated education and synchronization throughout the supply chain.

The increasing penetration of modern retail, such as supermarkets and hypermarkets has led to the growing demand for food traceability system. The food tracing systems incur costs related to investment in infrastructure, record keeping, and up-gradation of harvesting and processing of food.

Europe is one of the most concerned regions for food safety. The regulations related to food safety are most stringent in Europe, as compared to any other region. Food and feed traceability has been compulsory in Europe, since 2002 for all types of food businesses in the region. FoodTrace is one of the programs in the region that is designed to enhance traceability procedures between businesses. It demands the establishment of a defined identification system and a network of databases, in order to centralize and share the information. The traceability for meat products has been increasing in the U.S., owing to increasing meat trade, which is expected to drive the growth of the market in the country.

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The vendors operating in the global food traceability systems market include Minotaur Software Limited, BatchMaster Software, and Verify Traceability Limited.

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