Food Traceability (Tracking Technology) Market Research Analysis, Characterization and Quantification Forecast by 2030

The Global Food Traceability (Tracking Technology) Market size was valued at USD 12.86 billion in 2019 and is predicted to reach USD 29.43 billion by 2030, with a CAGR of 7.8% from 2020-2030.

Food traceability is a tracking technology that traces and validates the product quality at each point in the food supply chain, starting from production, processing, packaging, to distribution. It plays a vital role in the global trade, where food products from different origins are traded internationally, and food-investigation becomes mandatory in quality-checking the freshness-quotient of food products.

Food traceability holds wide application in tracing meat & livestock, fisheries, dairy products, fresh produce, and other perishables. The technologies used for food traceability are majorly thermal Printer, 2D & 1D barcode scanners, tags & labels, PDA with GPS, sensors, and others.

Access Full Description of this report at:–

https://www.nextmsc.com/report/food-traceability-market

Top Companies: CH Robinson Worldwide Inc., Bio-Rad Laboratories, Inc., E. I. Du Pont de Nemours and Company (DuPont), Cognex Corporation, International Business Machines Corporation, Honeywell International Inc., SGS SA, Motorola Solutions, Inc., MASS Group Inc, and Zebra Technologies Corporation

Market Dynamics and Trends

According to the ‘Food Safety’ report provided by World Health Organization in April 2020, about 1 in 10 million people, i.e. an approximated 600 million people world-wide fall ill after eating contaminated food, with an estimated 420,000 people dying every year from food borne diseases. The increasing prevalence of contaminated food causing food borne diseases, rises the demand for efficient food traceability technologies, thereby augmenting the growth of global food traceability market over the forecast period.

Major factors driving the growth of global food traceability market are stringent regulatory standards regarding food safety, mandatory standardization procedures to be followed by manufacturers coupled with food certifications mandated by government authorities.

However, investments in food traceability technologies resulting to higher cost to the company, intruding privacy, and security concerns, are the limiting factors hampering the growth of global food traceability market.

Moreover, highly competitive global food traceability market, ease of tracking with product recalls, information flow in both upstream & downstream food supply chain, as well as increasing penetration of company brandings and loyalty chains, are the factors anticipated to create lucrative segments for the growth of global food traceability market in coming future.

Request sample copy of this report at:-

https://www.nextmsc.com/food-traceability-market/request-sample

Market Segmentations and Scope of the Study:

The global food traceability market share has been analyzed based on equipment technology, application, end user and geography.

Based on equipment, the food traceability market is segmented into PDA with GPS, thermal Printers, 2D & 1D scanners, tags & labels, sensors, and others. Based on technology, the food traceability market is fragmented into RFID/RTLS, GPS, barcode, infrared, and biometrics. Based on application, the food traceability market is categorized into meat & livestock, fresh produce & seeds, dairy, beverages, fisheries, and others. Based on end user, the food traceability market is divided into food manufacturers, warehouse/pack farms, food retailers, defense & security departments, government departments, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to account for the major market share in the global food traceability market, throughout the forecast period, owing to the increased adoption of food tracking technologies, stringent regulations, and mandate certificates to be obtained by manufactures regarding food safety in the food traceability market.

Asia Pacific is expected to illustrate a rapid growth in the global food traceability market, with developing market share, growing with the highest CAGR values throughout the forecast period. This is attributed to proliferating food traceability market specifically in emerging economies, as well as improvement in warehouse Logistics.

Contact:
Phone Number: +1-217-650-7991
E-mail: info@nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

This release was published on openPR.