Press release
Global Food Traceability Market 2021– By Trends, Revenue and Forecast Till 2030
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According to the latest research by InsightAce Analytic, the global Food Traceability market size valued at US$ XX Million and it is expected to reach US$ XX Million in 2030, recording a promising CAGR of XX% during the period of 2019-2030. By region, North America dominates the market with share of XX% of global Food Traceability market.
Food traceability tools/systems have the ability to monitor and record various stages of the food supply chain. Food traceability process gives the information about sources of food like raw materials, ingredients, packaging and more. It enables to reduce the food contamination and food safety problems as well as it reduces the consumer healthcare risks. Many food industries are using food traceability tools to improve the food quality and to track and record the food history, which is the key driving factor of this market. Moreover, COVID-19 pandemic has positive impacted this market due to rising consumer awareness about food safety.
Major driving factors of food traceability market are advance food technologies, increasing need of food safety, rising food contaminations and food adulterations, health-conscious people, rising need of its applications in various fields such as packaging, logistics, retail, storage, and handling, legislative framework and government certifications & standardizations. However, high price of tools, complex procedures, lack of strict government laws for food safety can limit the growth of this market.
At regional level, North America region is the major revenue holder of this market due to rising awareness about food safety, increasing investments in the research and development of food traceability systems and stringent regulations. Asia-Pacific market is expected to grow faster in the future due to the growing food industries and adaption of new technologies. On the other hand, Europe region is also going to dominate the market during forecast period due to stringent regulations and compulsion of food traceability for businesses.
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Leading manufacturers of this field are focusing on system innovations, making new partnerships, collaborations and agreements, growing awareness about food traceability methods, increasing research investments for developing advance technologies. These strategies will help to propel their growth opportunities in the market.
In October 2018, Cognex Corporation, one of the leading companies in food traceability market, launched its ‘DataMan 475,’ the inline barcode verifier that provides contract-compliant assurance abiding to ISO standards. In 2020, Cognex Corporation has launched its ‘DataMan 475,’ the inline barcode verifier that provides contract-compliant assurance abiding to ISO standards.
Prominent players of food traceability market are Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IdentiGEN, IBM Corporation, Intertek Group, Cognex Corporation, MASS Group, Zebra Technologies, SGS SA, HarvestMark, Optel Group, Thermo Fisher Scientific, Merit-Trax Technologies, Infor, FoodLogiQ, and other Prominent Players.
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Market Segments
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 based on Products
• RFID
• Barcodes
• Infrared
• Biometrics
• Other Products
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 based on Applications
• Dairy Products
• Meat, Poultry, and Seafood
• Beverages
• Fresh Produce
• Others (grains, seeds, nuts)
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 based on End-Users
• Food Manufacturers
• Food Retailers
• Government Department
• Warehouses
• Others (Defence and Security Departments, Farmers, Non-Profit
• Organizations, and Cooperative Organization)
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2019 to 2030 based on Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America food traceability market revenue (US$ Million) by Country, 2019 to 2030
• U.S.
• Canada
Europe food traceability market revenue (US$ Million) by Country, 2019 to 2030
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific food traceability market revenue (US$ Million) by Country, 2019 to 2030
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America food traceability market revenue (US$ Million) by Country, 2019 to 2030
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa food traceability market revenue (US$ Million) by Country, 2019 to 2030
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for global food traceability market
To receive industry overview and future trends of Food Traceability market
To analyse the food traceability market drivers and challenges
To get information on food traceability market size value (US$ Mn) forecast till 2030
Major Investments, Mergers & Acquisition in Food Traceability market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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