Global Food Traceability Market Size, Share, Demand, Trends, Growth and Forecast Analysis to 2021-26

The “Global Food Traceability Market” is likely to grow at a CAGR of 10.9% in the forecast period of 2021-26, says MarkNtel Advisors in their research report “Global Food Traceability Market Analysis, 2021.”

The most prominent factor contributing to the market growth is burgeoning food contamination cases. The demand for food traceability solutions is significantly increasing to ensure the safety & reliability of food and minimize mass product recalls. Further, governments across the globe have also enforced stringent laws & regulations to promote food traceability to improve the food industry, thereby augmenting the market growth.

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Radio Frequency Identification (RFID) Devices to Witness Fastest Growth Rate During the Forecast Period

Based on the Technology, the market bifurcates into Barcodes, Radio Frequency Identification (RFID) devices, Warehouse Management Systems (WMS), Blockchain-Based Applications, Food-Sensing Technologies, Infrared, and Internet of Things (IoT). Of these segments, Radio Frequency Identification (RFID) devices are more likely to grow at the fastest pace during the forecast period.

RFID Chips help track data across different end-user verticals, such as food manufacturers, warehouses, & food retailers. RFID scanner sends radio frequency signals to RFID tags attached to product packages, which send back these signals to the RFID scanner for decoding the encrypted data. RFID devices help automatically scan products entering or leaving a facility.

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Tags & Labels to Witness Significant Growth Rate During 2021-26

Based on Equipment, the market bifurcates into PDA with GPS, Thermal Printers, 2D & 1D Scanners, and Tags & Labels. Of these segments, Tags & Labels are expected to display a significant growth rate during the forecast period. Tags & labels help identify products through signals picked up by the scanner. Hence, they allow real-time product tracking and determine the availability of total stock or by series of products. These potential benefits of tags & labels shall lead them to attain a decent growth rate in the coming years, reveals MarkNtel Advisors in their research report, “Global Food Traceability Market Analysis, 2021.”

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Key Market Competitors:
According to MarkNtel Advisors, the leading industry players in the Global Food Traceability Market are Honeywell, CH Robinson Inc, Intelex Technologies, SAP, Bio-Rad Laboratories, IBM, Intertek, Cognex, Harvest Mark, bcFooderp, Merit Track, Food Decision Software, JustFoodERP, Optel, and Others.

Critical Questions Answered in the Study
1. What are the current and future trends in the Global Food Traceability market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Food Traceability market?
5. What are the customer orientation, purchase behavior, and expectations from the Global Food Traceability market service providers?

Market Segmentation:
1. By Equipment (PDA with GPS, Thermal Printers, 2D & 1D Scanners, Tags and Labels)
2. By Technology (Barcodes, Radio Frequency Identification (RFID) devices, Warehouse Management Systems (WMS), Blockchain-Based Applications, Food-Sensing Technologies, Infrared, Internet of Things (IoT))
3. By Application (Meat, Seafood and Poultry, Vegetables and Fruits, Dairy Products, Beverages, Others)
4. By End-User (Food Manufacturers, Warehouse/Pack Farms, Food Retailers, Government Departments, Others)
5. By Geographic Region (North America, South America, Europe, Middle East & Africa, Asia Pacific)
6. By Countries (US, Canada, Mexico, Brazil, Germany, France, Spain, Italy, UK, South Africa, Israel, Saudi Arabia, China, India, Japan, Australia,)
7. By Competitors (Honeywell, CH Robinson Inc, Intelex Technologies, SAP, Bio-Rad Laboratories, IBM, Intertek, Cognex, Harvest Mark, bcFooderp, Merit Track, Food Decision Software, JustFoodERP, Optel, and Others)

MarkNtel Advisors
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About us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.