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Food Traceability Market worth $35.04 billion by 2030, growing at a CAGR of 9.27% - Exclusive Report by 360iResearch
Food Traceability Market | 360iResearch
The Global Food Traceability Market to grow from USD 18.83 billion in 2023 to USD 35.04 billion by 2030, at a CAGR of 9.27%.
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Food traceability tracks food ingredients and end-products from their source to the point of sale. It helps to ensure that food products have been produced and handled responsibly, safely, and legally. The technology can also help to reduce food waste by providing accountability and transparency in the food supply chain. Traceability is important for consumer safety as it can help identify any potential problems associated with a product before reaching consumers. Additionally, it aids in identifying the source of contaminated products quickly, alerting authorities to take necessary action for mitigating risks, such as product recalls. Traceability assists with compliance with relevant health and safety regulations by providing an audit trail for regulatory bodies to track compliance. Over the years, consumers have been interested in understanding the food industry's production procedures and supply chain transparency, encouraging the end-user adoption of food traceability solutions. Various Governments worldwide have also introduced several initiatives encouraging the adoption of traceability and tracking systems in the food sectors. However, high implementation costs associated with adopting food traceability technology and their potential security risks impede product penetration. Players are constantly working on introducing blockchain and IoT-based products with an improved focus on the security of food traceability products, creating opportunities for market growth.
The food traceability market in the Americas is growing, driven by increasing commercial interest in the food sector and regulatory requirements regarding food safety. End-users across the region are partnering with the market players to deploy traceability solutions to proactively control their safety and quality standards while reducing costs associated with recalls. Regulatory requirements for food traceability have increased in recent years across all regions due to greater public awareness of safety and health concerns related to contaminated foods. Increasing focus on the European food industry is observed to leverage this technology within the food supply chain to reduce fraud and other risks associated with adulteration. Thus, regional players are offering cloud-based solutions and supply chain analytics to improve visibility across the entire food production process. The food traceability market in Asia-Pacific is developing, owing to large-scale industries implementing tracing solutions as a part of their digitalization strategy. Traders are incorporating traceability systems for certain food products as Asia emerges as a major export region. Moreover, recent surveys have demonstrated increased demand from Asian consumers for certification labels such as organic certification or global good agricultural practices (GAP) certification. This has encouraged the region's food industry to establish its food products' safety, quality, and certification through technology-enabled traceability systems.
Market Segmentation & Coverage:
This research report categorizes the Food Traceability Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Solutions, market is studied across Batch & Variance Costing Management, Food Quality & Safety Management Systems, Formula Management, and Inventory Control Management. The Inventory Control Management is projected to witness significant market share during forecast period.
Based on Technology, market is studied across Barcodes, Biometrics, Global Positioning System, Infrared, and Radio-Frequency Identification. The Infrared is projected to witness significant market share during forecast period.
Based on Application, market is studied across Beverage Products, Dairy Products, Fresh Food Products, Meat & Poultry Products, and Seafood Products. The Fresh Food Products is projected to witness significant market share during forecast period.
Based on Organization Size, market is studied across Medium & Large Sized and Small. The Medium & Large Sized is projected to witness significant market share during forecast period.
Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Cloud is projected to witness significant market share during forecast period.
Based on End User, market is studied across Food Manufacturers, Food Retailers, Food Warehouses & Pack Farms, and Government Departments. The Food Manufacturers is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Food Traceability Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Food Traceability Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Food Traceability Market, highlighting leading vendors and their innovative profiles. These include Ashton Potter (USA) Ltd., Bio-Rad Laboratories, Inc., C.H. Robinson Worldwide, Inc., Caddy Food Safety Management, Carlisle Technology Inc., Cognex Corporation, Compliance by MAPAL, Covectra, Inc., Farmsoft, FoodDocs, FoodLogiQ, International Business Machines Corporation, Invafresh Systems Corp., Logitrack Solutions Inc., Mass Group Inc., Merit-Trax Technologies Inc., Mettler Toledo, Minotaur Software, Optel Group, Paragon Data Systems, Inc., ParityFactory, Picarro Inc., Produce Pro Software, Safefood 360, SafetyChain Software, Inc., SGS SA, TraceGains, TraceX Technologies Pvt. Ltd., Wherefour, Inc., and Zebra Technologies Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Food Traceability Market, by Solutions
7. Food Traceability Market, by Technology
8. Food Traceability Market, by Application
9. Food Traceability Market, by Organization Size
10. Food Traceability Market, by Deployment
11. Food Traceability Market, by End User
12. Americas Food Traceability Market
13. Asia-Pacific Food Traceability Market
14. Europe, Middle East & Africa Food Traceability Market
15. Competitive Landscape
16. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Food Traceability Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Food Traceability Market?
3. What is the competitive strategic window for opportunities in the Food Traceability Market?
4. What are the technology trends and regulatory frameworks in the Food Traceability Market?
5. What is the market share of the leading vendors in the Food Traceability Market?
6. What modes and strategic moves are considered suitable for entering the Food Traceability Market?
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