Food Traceability Market to Exceed US$ 14 Billion Globally by 2020

New York, May 08: Market Research Engine has published a new report titled as “Food Traceability Market by Technology (RFID, GPS, Barcode, Infrared, Biometric), End User (Manufacturer, Warehouse, Retailer, Government), Application (Fresh food Produce, Meat & Poultry, Seafood, Dairy, Beverage), & by Region - Global Trend & Forecast to 2020”

The food traceability market is expected to exceed more than USD$14billion by 2020.

Browse Full Report: https://www.marketresearchengine.com/reportdetails/food-traceability-market

Food traceability is a skill in which tracking of food during all phases such as manufacturing, processing, delivering, importing and selling phase. It traced all food movements one step forward and one step backward on every position in the supply chain. During this process it should know about sources of food such as raw materials, ingredients, packaging and more. Food tracebility enables Food Company to aim the products affected by a food safety problem, reduce trouble towards trend. It reduces the consumer healthcare risks and all food company should be able to trace all products during all stages. All food company should have maintained record which includes transaction and delivery date, contact details of consumer and supplier, lot identification or any other important information.

The major driving factors of food traceability market are as follows:

o Support product recall
o Traces contamination
o Decrease in Price
o Increasing customer concern in support of food security.
o Legislative structure
o Certifications and standardization

The restraints factors of food traceability market are as follows:

o Extra charge on traceability system
o Problem related to confidentiality data sharing.
o Requirement of strict laws during developing country.
o Different product have different requirenment.

The food traceability market is segmented on the lines of its technologies, application, end user and equipment. The food traceability market is segmented on the lines of its technologies like RFID/RTLS, GPS, barcodes, infrared and biometrics. Under application segmentation it covered meat, fresh food produce, dairy products, beverages, fisheries and other. The food traceability market is segmented on the lines of its end user like food manufacturers, warehouse/pack farms, food retailers, defense and security departments and other government departments. The food traceability market is segmented on the lines of its equipment like smart PDAs, thermal printers, two dimensional and1D scanners, tags and labels and sensors. The food traceability market is geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

This report provides:

1) An overview of the global market for food traceability and related technologies.
2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2020.
3) Identifications of new market opportunities and targeted promotional plans for food traceability
4) Discussion of research and development, and the demand for new products and new applications.
5) Comprehensive company profiles of major players in the industry.

REPORT SCOPE:

The scope of the report includes a detailed study of global and regional markets for various types of food traceability with the reasons given for variations in the growth of the industry in certain regions.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Honeywell International Inc. (U.S.), C.H. Robinson Worldwide, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), DuPont (U.S.), Cognex Corporation (U.S.), and SGS S.A. (Switzerland) Company profile includes assign such as company summary, financial summary, business strategy and planning, SWOT analysis and current developments.

The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.

The Food Traceability Market has been segmented as below:

by Technologies Analysis

• RFID/RTLS
• GPS
• Barcodes
• Infrared
• Biometrics

by Application Analysis

• Meat
• Fresh food produce
• Dairy products
• Beverages
• Fisheries
• Other

by End-User Analysis

• Food manufacturers
• Warehouse/pack farms
• Food retailers
• Defense and security departments

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This release was published on openPR.