Food Traceability Market Safeguarding Your Plate From Farm to Fork Rise of the Food Traceability Market

Food Traceability Market worth $ 40.04 Billion by 2030 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Food Traceability Market- by Product (RFID, Barcodes, Infrared, Biometrics, and other Products), Applications (Dairy Products, Meat, Poultry, and Seafood, Beverages, Fresh Produce, and others (grains, seeds, nuts)), End-Users (Food Manufacturers, Food Retailers, Government Department Meat, Poultry, and Seafood, Warehouses, and others

(Defence and Security Departments, Farmers, Non-Profit Organizations, and Cooperative Organization)), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

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According to the latest research by InsightAce Analytic, the global Food Traceability market is valued at US$ 17.35 billion in 2021, and it is expected to reach US$ 40.04 billion by 2030, with a CAGR of 10.07% during a forecast period of 2024-2031.

Food Traceability Market Driven by Consumer Safety Concerns and Regulatory Requirements
Traceability, also known as tracking technology, plays a critical role in the food industry. It refers to the ability to identify and verify each step within the food supply chain, from farm to fork. This includes tracking the origin of ingredients, processing stages, and ultimately, the final destination of the food product reaching consumers.

Food traceability is particularly important in international food trade, where complex supply chains often involve ingredients from multiple sources and countries. By implementing traceability systems, companies can monitor the movement of food products throughout production and distribution, ensuring they are fit for human consumption.

The food traceability market is experiencing significant growth due to several key factors:
• Consumer Demand for Food Safety: Growing concerns about food safety are a major driver of market growth. Consumers are increasingly interested in understanding where their food comes from and how it's produced.
• Mitigating Foodborne Illness Risks: Food traceability systems enable companies to quickly identify and isolate contaminated products, minimizing the risk of foodborne illness outbreaks.

• Regulatory Landscape: The development of stricter legal frameworks and increased efforts by regulatory bodies to promote international food safety standards are driving the adoption of food traceability solutions.

• Product Recalls and Contamination Concerns: The rising number of product recalls due to contamination concerns is further emphasizing the need for robust traceability systems.

Future of Food Traceability
As the food industry grapples with increasingly complex supply chains and consumer demands for transparency, food traceability is poised to play an even greater role. Companies that invest in effective traceability solutions will be better equipped to ensure food safety, build consumer trust, and comply with evolving regulations.

It is anticipated that considerable technical advancements in traceability and backing from the government for the implementation of consumable traceability systems would open up a wide range of new opportunities for this business. The global food traceability market's main growth factors are the legal framework, certifications, and standardizations. This is because governments in both developed and developing nations are required to abide by rules and standards pertaining to food safety, which also fosters market expansion.

The Asia Pacific is anticipated to be the major contributor to the Food Traceability market over the forecast years. Customers are seeking out high-quality, safe food to eat because of the region's huge population and purchasing power. The population's changing eating habits as a result of growing awareness of nutritious foods and beverages is also driving up demand for food traceability services. In addition, the North America Food Traceability market is expected to grow significantly during the forecast period.

Government mandates for the analysis and purification of food industry components have increased the demand for food traceability systems in the region, which has in turn, fueled the growth and traction of the region's food traceability market.

Major market players operating in the Food Traceability market include
Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Intertek Group, Cognex Corporation, Bio-Rad Laboratories, IdentiGEN, IBM Corporation, MASS Group, Zebra Technologies, SGS SA, HarvestMark, Merit-Trax Technologies, Infor, Optel Group, Thermo Fisher Scientific, FoodLogiQ, and Other Prominent Players

Recent collaborations and agreements in the market:
• In February 2021, the platform operations of Fusionware were acquired by AgTech.io, LLC, a company owned and run by C9 Capital, LLC. Fusionware is the system that ties everything together to provide consumers and growers in their nation with thorough traceability.

• In December 2020, US company Honeywell bought Rebellion Photonics (US). In the oil and gas, petrochemical, and power industries, Rebellion Photonics offers cutting-edge, intelligent, visual gas monitoring solutions that maximize safety, operational performance, emissions reduction, and compliance.

• In September 2020, Bio-Rad Laboratories purchased Celsee, Inc. (US), a provider of equipment and supplies for the isolation, detection, and analysis of single cells. The Genesis System allows researchers to acquire cell-based data as well as isolate, examine, and analyze cellular behaviour.

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Market Segments
Global Food Traceability Market, by Product, 2022-2030 (Value US$ Mn)
• RFID
• Barcodes
• Infrared
• Biometrics
• Other Products

Global Food Traceability Market, by Application, 2022-2030 (Value US$ Mn)
• Dairy Products
• Meat, Poultry, and Seafood
• Beverages
• Fresh Produce
• Others (grains, seeds, nuts

Global Food Traceability Market, by End-Users, 2022-2030 (Value US$ Mn)
• Food Manufacturers
• Food Retailers
• Government Department
• Warehouses
• Others (Defence and Security Departments, Farmers, Non-Profit
• Organizations, and Cooperative Organization)

Global Food Traceability Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Food Traceability Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada

Europe Food Traceability Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Food Traceability Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Food Traceability Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Food Traceability Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Food Traceability market
 To receive an industry overview and future trends of the Food Traceability market
 To analyze the Food Traceability market drivers and challenges
 To get information on the Food Traceability market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Food Traceability market industry

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