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Food Traceability Market Trends 2024, Leading Companies Share, Size and Forecast Report By 2032

04-18-2024 03:10 PM CET | Food & Beverage

Press release from: IMARC Group

Food Traceability Market

Food Traceability Market

IMARC Group's latest research report, titled "Food Traceability Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global food traceability market size reached US$ 20.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.4 Billion by 2032, exhibiting a growth rate (CAGR) of 8.3% during 2024-2032.

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Food traceability refers to the ability to track and document the production, distribution, and acquisition of food through all stages from farm to table. This system includes various technologies and methodologies, such as barcodes, RFID tags, and digital data management systems, to ensure the origin, location, and history of food products can be identified quickly and accurately. The types of food traceability systems range from batch and lot tracking to real-time data collection systems. The primary advantages of implementing traceability in the food supply chain are enhanced food safety, improved quality control, reduction in waste and fraud, and increased consumer confidence. These systems also facilitate compliance with global regulatory requirements and aid in managing recalls more efficiently, thereby protecting public health and maintaining brand integrity.

key Players Operating in this Industry:

• Bar Code Integrators Inc
• C.H. Robinson Worldwide Inc
• Carlisle Technology
• Cognex Corporation
• FoodLogiQ
• Honeywell International Inc
• Impinj Inc
• International Business Machines Corporation
• MASS Group
• OPTEL Group
• SGS S.A
• Zebra Technologies Corporation

Food Traceability Market Trends:

The global market is propelled by increasing global concerns over food safety and regulatory compliance requirements. Along with this, the rising incidences of foodborne illnesses and contamination episodes have urged food processors and retailers to adopt advanced traceability solutions to ensure product reliability and safety. Technological advancements such as blockchain, IoT sensors, and big data analytics are revolutionizing the food traceability sector by offering greater transparency and accuracy in tracking food products. Additionally, consumer demand for transparency regarding the sources and production methods of their food is influencing market growth. In addition, governments and international bodies are also implementing stricter food safety regulations, which mandate better traceability practices across the food supply chain. Furthermore, the expansion of international trade in food products necessitates robust traceability systems to manage the complexities of global supply chains efficiently. These factors collectively contribute to the vigorous expansion of the food traceability market globally.

Ask Analyst for Instant Discount and Download Full Report with TOC & List of Figure: https://www.imarcgroup.com/food-traceability-market

Food Traceability Market Report Segmentation:

Breakup by Technology:

• RFID/RTLS
• Global Positioning System (GPS)
• Barcode
• Infrared
• Biometrics

Barcode technology dominates the largest segment due to its widespread adoption, cost-effectiveness, and ease of integration into existing supply chains, facilitating efficient tracking and tracing of food products.

Breakup by Equipment:

• PDA with GPS
• Thermal Printers
• 2D and 1D Scanners
• Tags and Labels
• Sensors
• Others

2D and 1D scanners constitute the largest equipment segment, as they are essential tools for reading barcodes, thereby enabling quick data capture and real-time tracking of food items throughout the supply chain.

Breakup by Application:

• Meat and Livestock
• Fresh Produce and Seeds
• Dairy Products
• Beverage Products
• Fisheries
• Others

The meat and livestock application claims the largest segment due to stringent regulatory requirements and the high risk of contamination in these products, necessitating robust traceability systems to ensure food safety and quality.

Breakup by End User:

• Food Manufacturers
• Warehouse/Pack Farms
• Food Retailers
• Government Departments
• Others

Food manufacturers emerge as the largest end-user segment, driven by the critical need to maintain transparency, enhance food safety, and improve supply chain efficiency in response to increasing consumer and regulatory demands for traceable food sources.

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Europe stands as the largest market, attributed to its strict food safety regulations, high consumer awareness regarding food provenance, and the advanced adoption of traceability technologies across the food sector.

Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Related Report By IMARC Group:

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Contact US:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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