Food Traceability Industry Share, Demand, and Future Forecast

Food Traceability Market Projected to Expand at 10.9% CAGR Through 2026

The Global Food Traceability Market is forecast to grow at around 10.9% CAGR during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The market growth primarily attributes to the rising awareness and concerns regarding food safety among consumers. Additionally, increasing incidences of food adulteration & food-borne diseases leading to serious health-related issues shall further spur the market growth.

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Strategic Takeaways from the Report:

Market Sizing and Forecasting
Regulatory and Policy Influence
Competitive Trends and M&A Activity
Innovation Drivers and Disruptive Technologies
Investment Hotspots and Emerging Niches
Geographical Dynamics and Trade Flows

Food Traceability Market Segment Overview & Classification

This market is categorized to offer targeted insights across various operational and consumer-related verticals.

Segment List:

By Equipment

PDA with GPS
Thermal Printers
2D & 1D Scanners
Tags and Labels

By Technology

Barcodes
Radio Frequency Identification (RFID) devices
Warehouse Management Systems (WMS)
Blockchain-Based Applications
Food-Sensing Technologies
Infrared
Internet of Things (IoT)

By Application

Meat, Seafood and Poultry
Vegetables and Fruits
Dairy Products
Beverages
Others

By End-User

Food Manufacturers
Warehouse/Pack Farms
Food Retailers
Government Departments
Others

Based on the End-User, the market bifurcates into Food Manufacturers, Warehouse/Pack Farms, Food Retailers, and Government Departments. Of these four, Food Manufacturers acquired the largest share of the Global Food Traceability Market in the previous years.

By Region

North America
South America
Europe
Middle East & Africa
Asia Pacific.

Geographically, North America has dominated the Food Traceability Market in the previous few years, mainly due to the rising awareness regarding healthy eating habits and increasing food safety concerns across the region. Additionally, increased production & consumption of packaged food in North America further propel the demand for adopting food traceability solutions to ensure safety during every food production stage. Further, burgeoning incidences of food-borne diseases in the region is another crucial factor that fueled the Global Food Traceability Market Growth.

These divisions help clarify demand patterns and expected shifts.

Market Opportunities

Burgeoning Food Adulteration & Food Borne Diseases to Boost the Market Growth - Geographically, North America has dominated the Food Traceability Market in the previous few years, mainly due to the rising awareness regarding healthy eating habits and increasing food safety concerns across the region. Additionally, increased production & consumption of packaged food in North America further propel the demand for adopting food traceability solutions to ensure safety during every food production stage. Further, burgeoning incidences of food-borne diseases in the region is another crucial factor that fueled the Global Food Traceability Market Growth.

Food Traceability Market Competitive Snapshot from 2021-2026

The report highlights established and emerging players in the global Food Traceability Market, evaluating their strengths, challenges, and potential for innovation.

Key Competitors Include:

Honeywell
CH Robinson Inc
Intelex Technologies
SAP
Bio Rad Laboratories
IBM
Intertek
Cognex
Harvest Mark
Bcfooderp
Merit Track
Food Decision Software
JustFoodERP
Optel
Others.

Their activities include partnerships, product launches, and geographic expansions.

Food Traceability Industry Prime Challenge

Privacy and Security Issues in Data Sharing to Hamper the Market Growth - Traceability involves tracing & tracking food products throughout the supply chain using advanced technology, such as barcodes and RFID. Food traceability also includes data capture, recording, & storage. It increases concerns regarding the privacy & security of data stored on the RFID tag by unauthorized access. Hence, the privacy issues regarding data sharing might hinder the growth of the Global Food Traceability Market.

Frequently Asked Questions (FAQs):

What industries are most impacted by this market?
How is technology reshaping operations and offerings?
Which competitors dominate the landscape?
What risks could disrupt market expansion?
How should businesses respond to demand fluctuations?

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