The Global Food Traceability Market Report, published by Emergen Research, offers an industry-wide assessment of the Food Traceability market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2021-2028.
The global food traceability market size reached USD 4.54 Billion in 2020 and is expected to register a revenue CAGR of 10.2%, during the forecast period, according to latest analysis by Emergen Research. Some of the major factors driving global food traceability market revenue growth include increasing deployment of traceability solutions to digitize, secure, and leverage valuable data, thereby enabling safe and sustainable transparency in the supply chain and for tracking and tracing products flow – from raw materials to consumers – and more innovative, interoperability, and efficiency. In addition, rising need to increase quality control systems and reduce risks are other factors expected to continue to boost revenue growth of the market in the near future. Quality control in food traceability systems can enable evaluation of food quality along supply chain stages and aids in enhancing customer experience and satisfaction.
Continuous consumer demand for more transparency related to food product aspects to be provided on product labels – from origin of raw materials to agricultural practices and ingredients used in the production of food products – is expected to support market growth going ahead. Raw material traceability solutions provide complete visibility, thereby enabling consumers to know producer details with socio-economic profile information, farming practices, and potential human and environmental impact, and deployment of these solutions is expected to continue to incline and in turn, boost , market growth.
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The latest report is the most recent study that offers 360° coverage of the Food Traceability industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Food Traceability market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Segmental Analysis
The global Food Traceability market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Food Traceability sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Emergen Research has segmented the global food traceability segments on the basis of equipment, software, technology, application, end-use, and region:
Equipment Outlook (Revenue, USD Billion; 2018–2028)
- Sensors
- Thermal Printers
- Tags Labels
- PDA with GPS
- 2D 1D Scanners
- Others
Software Outlook (Revenue, USD Billion; 2018–2028)
- Warehouse Software
- Laboratory Information Management Software (LIMS)
- Enterprise Resource Planning (ERP)
- Others
Technology Outlook (Revenue, USD Billion; 2018–2028)
- GPS
- Infrared
- RFID/RTLS
- Barcode
- Biometrics
Application Outlook (Revenue, USD Billion; 2018–2028)
- Dairy
- Fisheries
- Beverages
- Fresh Produce Seeds
- Meat Livestock
- Others
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Food Retailers
- Defense
- Food Manufacturers
- Warehouse
- Government
Regional Analysis:
This section of the report offers valuable insights into the geographical segmentation of the Food Traceability market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Food Traceability market into various regions, including:
- North America (U.S., Canada)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Middle East Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Competitive Terrain:
The Global Food Traceability Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report are as follows:
Honeywell International Inc., Cognex Corporation, Keyence Corporation, Bext360 Inc., Foodlogiq LLC, TraceOne Inc., Traceall Global Limited, Merit-Trex Technologies Inc., TE-Food Enterprise, and Carlisle Incorporated.
Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Food Traceability market.
- The report marks the notable developments that have recently taken place in the Food Traceability industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Food Traceability market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
Key questions addressed in the report:
- Who are the leading players dominating the global Food Traceability Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Food Traceability in this industry vertical?
