The Food Traceability Market report offers exhaustive analysis of factors influencing investment, forecasting impending opportunities for businesses and improving ROI strategies. Data and information are sourced from reliable sources and validated by market experts. The report includes historical data, current market trends, and technological progress in the industry. The Food Traceability Market research report offers meticulous investigation of the global market's current scenario, considering numerous market dynamics. It aids businesses in making informed decisions and generating revenue by providing detailed market insights and analysis.
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The global food traceability market was valued at USD 17.56 billion in 2023 and is estimated to reach approximately USD 39.57 billion by 2032, at a CAGR of 9.4% from 2024 to 2032.
“Product definition”
In order to guarantee accountability, safety, and transparency throughout the world's food supply chain, the food traceability industry has become essential. Since its debut, the way that producers, regulators, and consumers view and engage with food items has completely changed. Food traceability makes it easier to track food products from their point of origin to point of consumption by utilizing cutting-edge technology like blockchain, RFID (Radio Frequency Identification), and IoT (Internet of Things). Stakeholders can obtain up-to-date information regarding the product's origin, manufacturing, processing, and distribution processes using this all-inclusive system.
SEGMENTATION
By Equipment (PDA with GPS, Thermal Printers, 2D & 1D Scanners, Tags & Labels, Sensors),
By Technology (RFID/RTLS, GPS, Barcode, Infrared, and Biometrics),
By End-User (Food Manufacturers, Warehouse/Pack Farms, Food Retailers, Defense & Security Departments, Other Government Departments, and Others),
By Application (Meat & Livestock, Fresh Produce & Seeds, Dairy, Beverages, Fisheries, and Others), and
Region (North America, Europe, Asia-Pacific, and Rest of the World)
Future Outlook and by Top key players Analysis
Motorola Solutions, Inc., SGS SA , CH Robinson Worldwide Inc., International Business Machines Corporation, Bio-Rad Laboratories, Inc., E. I. Du Pont de Nemours and Company, Cognex Corporation, Zebra Technologies Corporation ,and various others.
Food Traceability Market Recent Developments
In Sepetember 2023, A tech-enabled traceability solution was announced by iFoodDS and IBM to assist businesses in the food supply chain in complying with the FDA's Food Traceability Rule, or FSMA 204(d). The new solution, iFoodDS Trace ExchangeTM (with IBM Food TrustTM), builds on decades of experience in food traceability software and will meet supplier needs and enterprise scalability demands.
In March 2023, TOMRA has strategically invested in Kezzler, a company that provides product serialization and traceability, to acquire a 14% ownership position. The investment was made by purchasing secondary shares and taking part in the company's rights issuance.
In May 2022, Optchain is a set of modular intelligent supply chain (ISC) solutions created specifically for the food and beverage industry. OPTEL Group is a global leader in supply chain traceability solutions across several industries. With Optchain, all parties involved in the supply chain will be able to comply with the Food and Drug Administration's recent revision to the Food Safety Modernization Act (FSMA), particularly Section 204. This is because Optchain is designed with this goal in mind.
In December 2020, Rebellion Photonics (US) is acquired by Honeywell (US). Innovative, intelligent, visual gas monitoring solutions that maximize safety, operational performance, emissions mitigation, and compliance in the petrochemical, power, and oil and gas sectors are offered by Rebellion Photonics, a Houston-based company.
In addition, the years considered for the study are as follows:
Historical year – 2017-2022 | Base year – 2020 | Forecast period – 2024 to 2032
Table of Content: Global Food Traceability Market Research Report 2024-2032
Chapter 1: Food Traceability Market Overview
Chapter 2: Food Traceability Market Economic Impact
Chapter 3: Competition by Manufacturer
Chapter 4: Production, Revenue (Value) by Region (2024-2032)
Chapter 5: Supply (Production), Consumption, Export, Import by Regions (2024-2032)
Chapter 6: Production, Revenue (Value), Price Trend by Type
Chapter 7: Food Traceability Market Analysis by Application
Chapter 8: Food Traceability Market by Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Food Traceability Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Food Traceability Market Effect Factors Analysis
Chapter 12: Food Traceability Market Forecast (2024-2032)
Chapter 13: Appendix
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe, MEA or Asia Pacific.
Our report offers the following data from 2024 to 2032:–
– Food Traceability Market share assessments for the regional and country level segments.
– Market share analysis of the top industry players.
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets.
–Food Traceability Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).
– Strategic recommendations in key business segments based on the market estimations.
– Competitive landscaping mapping the key common trends.
– Company profiling with detailed strategies, financials, and recent developments.
–Food Traceability Industry Supply chain trends mapping the latest technological advancements.
Key questions answered in the Global Food Traceability Market report include:
• What will be Food Traceability market share and the forecast for 2024-2032?
• What are the key factors compelling the worldwide Food Traceability market?
• Who are the key players in the world Food Traceability industry?
• What are the factors impacting the revenue and production growth of the Food Traceability market?
• What are the opportunities & challenges in the Food Traceability industry?
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