Food Traceability (Tracking Technology) Market 2021 Size, Share Industry Trends, Growth, Development Status, Future Plans Analysis 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.

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Competitive Landscape

The food traceability market, which is highly competitive, consists of various market players. Some of the major market players include 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 among others.

The key players are employing strategies such as product launches, joint ventures, and technical collaboration, in-order to gain stronger position in the food traceability market.

For instance, in April 2020, Cognex Corporation, one of the leading companies in food traceability market, launched its ‘DataMan 475,’ the inline barcode verifier that provides contract-compliant assurance abiding to ISO standards. Its high-resolution camera, precision optics, and powerful lighting delivers the most quality reporting and reliable code verification for 1D, 2D, and DPM codes.

In May 2020, the ‘Umbria Food Cluster Project,’ by International Business Machines Corporation, gained momentum when the four major giants of food traceability market based in Italy viz, Gruppo Grigi, I Potti de Fratini, Molitoria Umbra, and Agribosco joined the network to promote authenticity and quality of products, using the IBM blockchain technology, locally as well as globally. This technology allows to track every internally-managed steps from farm-harvesting, processing, packaging, to final distribution, henceforth ensuring complete traceability and transparency. The food-unit includes pasta aliveris, eggs and egg products, chicken, honey, flour, sausages, dairy products, and other perishables.

2020 is the year where the whole world has united to fight the COVID-19 pandemic. The market players are contributing their part by developing and deploying new technologies that assists in fighting novel corona virus.

In May 2020, SGS SA., one of the major players in the food traceability market, announced that it has developed a range of new SARS-CoV-2 testing solutions that shall support the whole food-supply chain, from manufacturing to commercialization, to distribution in public facilities. The testing kits assures to detect the presence of novel corona virus in the consumables, at any point of the supply chain. SGS’s Hygiene Monitored (HM) Program, is compliant with World Health Organization guidelines, and covers swabbing, transporting, and testing of samples. For sample testing, the Reverse Transcription Real-Time PCR test is used to extract and detect the viral RNA, with high sensitivity.

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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.

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