Food Traceability Market Promising Growth and by Platform Type, Technology and End User Industry Statistics, Scope, Demand by 2032

Food Traceability Software Market size was valued at USD 245.23 Million in 2021 and is projected to reach USD 512.34 Million by 2030, growing at a CAGR of 10.24% from 2023 to 2030.

Consumer concerns about the safety of their meals are one of the main drivers anticipated to accelerate market expansion. Over the forecast period, food-borne adulteration and infection incidents are also anticipated to fuel demand for this traceability software industry, creating significant health-related challenges. The market is comprehensively evaluated in the study on the global food traceability software industry. The research provides a thorough analysis of the market's key segments, trends, drivers, restraints, competitive environment, and other important elements.

The main factors influencing the growth of the global food traceability market are the legal framework and certifications and standardisations. This is because governments in both developed and developing nations are obligated to uphold norms and rules pertaining to food safety, which also encourage market expansion. Competitive advantage and brand loyalty, tracking contamination and product recalls, and the flow of information upstream and downstream of the supply chain are other variables that drive the market.

The flow of goods intended for human consumption is monitored by the food traceability system throughout the production process. Manufacturers believe that food traceability systems are the most effective instrument for overcoming all food-related challenges because the production and distribution of food is a complex process. Food traceability enables companies to offer fresh food items to their clients, hence lowering the risk of food-borne illnesses. From the purchase of raw materials through the packing and storage of food products, it can be incorporated at every stage of the food supply chain.

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The demand for food traceability software is expanding as modern retail outlets like supermarkets and hypermarchés become more and more prevalent. Food corporations are compelled to uphold food safety standards due to the increasing prevalence of diseases and the spread of viruses, which has boosted the demand for the software in the market.

Global Food Traceability Software Market Overview

The growing adoption of traceability solutions to trace and track food products along with the supply chain and the growing need to recognise necessary documentation and tracking details for every stage of food processing are some of the key factors anticipated to continue to drive the global food traceability software market revenue growth over the forecast period. Enhancing quality control systems and lowering the likelihood of contaminated items reaching end users and linked sectors are further variables. Numerous brands have adopted more creative methods for tracing and tracking food as a result of the rising frequency of customers contracting foodborne illnesses.

However, issues with supply chain traceability and lack of standardisation are the main things that are anticipated to moderate market revenue growth during the forecast period. These solutions can also effectively assist governments and food producers in taking the appropriate actions and processes, such as identifying the places, goods, raw material sources, and ingredient sources where a particular disease may have started. This can also help with the quick removal of food items from shelves and retail locations, reducing the possibility of further consumer infection or danger.

Food Traceability Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Market Segmentation:

The food traceability market refers to the use of technology and systems to track the movement of food products throughout the supply chain. This includes tracking the origin and production of food, as well as the handling and distribution of food products.

The global food traceability market is expected to grow at a CAGR of around 9% from 2021 to 2026. The market is segmented based on technology, application, end-use sector, and geography.

By Technology:
RFID (Radio Frequency Identification)
Barcodes
GPS (Global Positioning System)
QR Codes
Others
By Application:
Meat & Poultry Products
Dairy Products
Beverages
Fresh Produce & Seeds
Others
By End-Use Sector:
Food Manufacturers
Food Retailers
Government Departments
Others
By Geography:
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Each of these segments has its own set of drivers, challenges, and opportunities. For example, the use of RFID technology is growing due to its ability to provide real-time data and improve supply chain efficiency. The meat and poultry products segment is also growing due to increasing demand for safe and high-quality meat products. Additionally, food retailers are increasingly adopting traceability solutions to improve customer trust and safety.

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Overall, the food traceability market is expected to continue to grow as food safety regulations become increasingly stringent, and consumers demand more transparency and accountability in the food supply chain.

Competitive Landscape:

The global food traceability market is highly competitive and consists of several major players. Some of the leading players in the market include:

IBM Corporation
Cognex Corporation
Zebra Technologies Corporation
Honeywell International Inc.
Datalogic S.p.A.
Barcoding, Inc.
Motorola Solutions, Inc.
Bio-Rad Laboratories, Inc.
Thermo Fisher Scientific Inc.
Carrier Global Corporation
These companies offer a wide range of food traceability solutions, including RFID and barcode technology, GPS tracking, and software systems that enable real-time tracking of food products throughout the supply chain.

Key Reasons to Purchase

● To gain insightful analyses of the market and have comprehensive understanding of the global Food Traceability Market and its commercial landscape.
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● To understand the most affecting driving and restraining forces in the Food Traceability Market and its impact in the global market.
● Learn about the Food Traceability Market strategies that are being adopted by leading respective organizations.
● To understand the future outlook and prospects for the Food Traceability Market.
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FREQUENTLY ASKED QUESTIONS
What is the future market value?
The Food Traceability Market value USD 17.3 billion in 2021.
What is the growth rate of the market?
What is the application segment?
Who are the major players operating in the food traceability market?
Which region of the food traceability market is expected to witness the highest growth during the forecast period?

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