The Global Food Traceability Market is accounted for $11.25 billion in 2017 and is expected to reach $20.95 billion by 2026 growing at a CAGR of 7.15% during the forecast period

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Sep 05, 2018, 09:26 ET

NEW YORK, Sept. 5, 2018 /PRNewswire/ -- According to Stratistics MRC, the Global Food Traceability Market is accounted for $11.25 billion in 2017 and is expected to reach $20.95 billion by 2026 growing at a CAGR of 7.15% during the forecast period. Growing consumer concern for food safety, high demand in emerging economies, stringent export regulations and the increasing penetration of modern retail, such as supermarkets and hypermarkets are some of the key factors driving the market growth. However, factors such as associated cost, additional cost on traceability systems, varying needs for different products, lack of stringent laws in developing nations and privacy issues for data sharing are hindering the market growth.

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Food traceability comprises the capacity to identify and authenticate a variety of stages of food chain from production to distribution. It involves recognizing the origin of food and its destination, from where it will be distributed to end users. This system is necessary for food investigations and is crucial in global food trade as multi ingredient food includes materials from variety of food chain and countries. Food traceability system maintains the record of the flow of products which are actually meant for human consumption throughout the production process. Since food production and the distribution is a complex process the companies consider food traceability system as the best tool to solve all the food-related challenges.

By technology, Radio-frequency identification (RFID) segment is predicted to have considerable market share during the forecast period owing to real time tracking of food items irrespective of weather conditions. By geography, Europe is one of the most concerned regions for food safety. The policies related to food safety are most severe in Europe, as compared to any other region. Food and feed traceability has been necessary in Europe, since 2002 for all types of food businesses in the region. Food Trace is one of the programs in the region that is considered to improve traceability procedures between businesses. It demands the establishment of a defined identification system and a network of databases, in order to consolidate and share the information.

Some of the key players profiled in the Food Traceability Market include Honeywell International, Inc., E. I. DU PONT DE Nemours and Company, International Business Machines Corporation, United Electronics Co., LTD, Mass Group Inc., Merit-Trax Technologies Inc., C.H. Robinson Worldwide, Inc, Bar Code Integrators, Inc., Bio-Rad Laboratories, Inc., Carlisle Technology Inc., Cognex Corporation, Picarro Inc, SGS SA, Thermo Fisher Scientific, Zebra technologies, Datalogic S.p.A, Foodlogiq, INFOR, Mar-Kov Computer Systems, STid Electronics identification and Impinj.

Technologies Covered:
• Infrared
• Biometrics
• Global Positioning System (GPS)
• Radio-Frequency Identification (RFID)
• Barcodes
• Near Field Communication (NFC)

Equipments Covered:
• 2D & 1D scanners
• Sensors
• Tags and labels
• Thermal printers
• Other Equipments

End Users Covered:
• Warehouse
• Government Departments
• Manufacturer
• Retailer
• Farmers
• Defense & Security Departments
• Other End Users

Applications Covered:
• Seafood Products
• Fresh Food & Seeds
• Beverage Products
• Meat & Poultry
• Dairy Products
• Canned or Bottled Food
• Other Applications

Regions Covered:
• North América
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• Italy
• France
• Spain
• Rest of Europe
• Asia Pacific
• Japan
• China
• India
• Austrália
• New Zealand
• South Korea
• Rest of Asia Pacific
• South América
• Argentina
• Brazil
• Chile
• Rest of South America
• Middle East & África
• Saudi Arabia
• UAE
• Qatar
• South África
• Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- 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
- Supply chain trends mapping the latest technological advancements

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