Food Traceability Market Growth Accelerates as Consumers Demand Fresh and Authentic Food Products

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 2034."

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According to the latest research by InsightAce Analytic, the global Food Traceability market is valued at USD 22.10 Billion in 2024, and it is expected to reach USD 63.97 Billion by the year 2034, with a CAGR of 11.3% during a forecast period of 2025-2034.

In the context of the food industry, traceability refers to the capability to identify and verify each stage of the food supply chain-from production to distribution. This includes tracking the origin of food products, their processing, and their final destination. Traceability systems are particularly crucial in the global food trade, as multi-ingredient products often involve components sourced from various supply chains and countries. These systems monitor the movement of food products intended for human consumption throughout the entire production and distribution process. Given the complexities involved in food manufacturing and logistics, many companies view food traceability systems as essential tools for managing food safety and quality. By ensuring transparency and accountability, these systems help deliver fresher food products to consumers and reduce the risk of foodborne illnesses.

One of the primary factors driving the growth of the food traceability market is increasing consumer concern regarding food safety. The rising incidence of foodborne illnesses and cases of product adulteration is expected to further propel demand for traceability solutions. Additionally, enhanced efforts by regulatory authorities to strengthen food safety frameworks and the implementation of supportive legislation are anticipated to contribute to market expansion. An increase in product recalls and contamination detection has further highlighted the importance of robust traceability systems.

Technological advancements, coupled with government support for the adoption of traceability solutions, are expected to create substantial growth opportunities in the sector. Regulatory requirements, certifications, and international standardization are key enablers of this growth, as both developed and developing nations emphasize compliance with food safety laws and standards.

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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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This release was published on openPR.