(MENAFN- Zion Market Research) Zion Market Research has published a new report titled 'Food Traceability Market by Technology (RFID, GPS, Barcodes, Infrared, and Biometric), by End-User (Food Manufacturers, Warehouse Food Retailers, Government Departments, and Others), and by Application (Fresh Food, Meat & Poultry, Seafood, Spices & Condiments, Beverages, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025. According to the report, the globalfood traceability marketwas approximately USD 11.64 billion in 2018 and is expected to generate around USD 21.84 billion by 2025, at a CAGR of around 9% between 2019 and 2025.
Food traceability monitors and tracks food products during transit so that the products safely reach their potential customer or retailer. The technology used in food traceability method traces the precise product to prevent the exchanging of discarded or contagious food with consumable food. The global food traceability market is experiencing significant growth, owing to the growing concerns regarding food safety due to rising health consciousness among the global population. The food traceability market is currently epitomized by high demand and supply, which is fuelling intense competition and various competitive challenges in the market. Companies are significantly investing in R & D to develop more advanced technology. These are some factors driving this global market. However, high costs of food traceability technologies may restrict this market's development over the upcoming years.
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Based on technology, the food traceability market is fragmented into RFID, barcodes, GPS, infrared, and biometrics. The RFID segment is expected to dominate the market, owing to RFID's various advantageous as it tracks information and complex parameters like temperature, air pressure, and humidity.
On the basis of end-user, the market is categorized into food manufacturers, warehouse food retailers, government departments, and others. Food manufacturers are expected to dominate the market in the years ahead, as they are the biggest end-users of food traceability technologies as their primary goal is to prevent contamination of the consumable food products.
On the basis of application, the market includes fresh food, meat and poultry, seafood, spices and condiments, beverages, and others. The fresh food segment is likely to dominate the market in the future, as fresh food items are vulnerable to viruses, bacteria, and other pathogens.
North America holds an extensive market share of the global food traceability market, owing to the stringent regulations and mandates regarding food safety and the ongoing developments related to food traceability technologies. Europe is expected to register modest development in the global food traceability market in the future, owing to the rising concerns regarding food safety among the regional population. Since 2002, feed and food traceability have been made mandatory in Europe for all types of food products. Moreover, FoodTrace is one of the major programs in Europe is intended to improve traceability methods. This will further the region's food traceability market growth in the future.
Some major players operating in the global food traceability market include Honeywell International, C.H. Robinson Worldwide, Bio-Rad Laboratories, DuPont, Cognex Corporation, SGS, A2B Tracking Solutions, Picarro, Motorola Solutions, and Merit-Trax Technologies.
This report segments the global food traceability market into:
Global Food Traceability Market: Technology Analysis
- RFID
- GPS
- Barcodes
- Infrared
- Biometric
Global Food Traceability Market: End-User Analysis
- Food Manufacturers
- Warehouse Food Retailers
- Government Departments
- Others
Global Food Traceability Market: Application Analysis
- Fresh Food
- Meat and Poultry
- Beverages
- Spices and Condiments
- Seafood
- Others
Global Food Traceability Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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