Global Food Traceability Market Size, Share, Demand, Growth and Its Emerging Opportunities Through 2026

The Global Food Traceability Market is projected to grow at a CAGR of 10.9% in the forecast period of 2021-26, says MarkNtel Advisors in their research report. The market growth primarily attributes to the massive food product recalls that propel the demand for food traceability solutions. According to a study by the Food Marketing Institute and the Grocery Manufacturers Association (GMA) in the US, food recalls cost companies an average of $10 million in direct cost alone.

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Further, rising concerns regarding food safety have forced food industries to introduce hazard analysis in their supply chain, which has also increased the demand for food traceability solutions, thereby likely to drive the market during 2021-26.

Market Report Coverage: Global Food Traceability Market

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)

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Region-wise Segmentation
• North America: US, Canada, Mexico
• South America: Brazil, Argentina
• Europe: Germany, France, The UK, Spain, Italy
• Asia-Pacific: China, India, Japan, Australia
• Middle East & Africa: South Africa, Saudi Arabia, Israel

Key Growth Drivers
• growing awareness & concerns regarding food safety among consumers
• increasing incidences of food adulteration & food-borne diseases leading to serious health-related issues
• rising initiatives by regulatory bodies to enhance food safety

Market Challenge
• privacy & security issues regarding data sharing

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Market Competitors
Honeywell, CH Robinson Inc, Intelex Technologies, SAP, Bio-Rad Laboratories, IBM, Intertek, Cognex, Harvest Mark, Bcfooderp, Merit Track, Food Decision Software, JustFoodERP, Optel.

Key Questions Answered in this Report:
1. What are the current & future trends in the Global Food Traceability Market?
2. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Food Traceability Market?
3. How has the industry been evolving in terms of geography & services adoption?
4. How has the competition been shaping across the globe, followed by their comparative factorial indexing?
5. What are the key growth drivers & challenges for the Global Food Traceability Market?
6. What are the customer orientation, purchase behavior, and expectations from food traceability solution providers across the globe?
7. What are the region-wise industry size, growth drivers, and challenges?
8. What are the key innovations, opportunities, current & future trends, and regulations in the Global Food Traceability Market?
9. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Food Traceability Market based on a competitive benchmarking matrix?
10. What are the key results derived from the market surveys conducted during the Global Food Traceability Market study?

MarkNtel Advisors
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Email: sales@marknteladvisors.com
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Website: https://www.marknteladvisors.com

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.