(MENAFN- IMARC Group)
IMARC Group's latest research report, titled“ Food Traceability market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ,” the global food traceability market size reached US$ 20.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.4 Billion by 2032, exhibiting a growth rate (CAGR) of 8.3% during 2024-2032.
Food traceability is the ability to track and trace the movement of food products throughout the entire supply chain, from production and processing to distribution and retail. It involves documenting and recording key information at various stages of the food production process to ensure transparency, quality control, and, most importantly, the ability to respond swiftly to food safety issues or recalls. Food traceability systems offer several benefits. They enhance food safety by allowing for the quick identification and removal of contaminated or unsafe products from the market. In the event of a foodborne illness outbreak or product recall, traceability systems enable precise identification of affected batches, minimizing the impact on public health. Additionally, food traceability contributes to supply chain visibility and efficiency.
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key Players Operating in this Industry:
Bar Code Integrators Inc C.H. Robinson Worldwide Inc Carlisle Technology Cognex Corporation FoodLogiQ Honeywell International Inc Impinj Inc International Business Machines Corporation MASS Group OPTEL Group SGS S.A Zebra Technologies Corporation
Food Traceability
Industry Trends:
The increasing focus on food safety, regulatory requirements, technological advancements, and changing consumer preferences for transparent and sustainable food supply chains is driving the global market. Furthermore, the global emphasis on food safety and quality assurance is accelerating the market. Governments and regulatory bodies are implementing stringent traceability standards to safeguard public health, reduce foodborne illnesses, and enhance the overall integrity of the food supply chain.
Besides, consumer's growing interest in the origins of their food and a demand for transparency contribute significantly to the market's expansion. The desire to make informed and ethical food choices has led to increased scrutiny of food supply chains. Traceability solutions allow consumers to access detailed information about the source, production methods, and journey of the products they purchase, fostering trust and loyalty between consumers and food brands.
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Market Segmentation :
Breakup by Technology:
RFID/RTLS Global Positioning System (GPS) Barcode Infrared Biometrics
Breakup by Equipment:
PDA with GPS Thermal Printers 2D and 1D Scanners Tags and Labels Sensors Others
Breakup by Application:
Meat and Livestock Fresh Produce and Seeds Dairy Products Beverage Products Fisheries Others
Breakup by End User:
Food Manufacturers Warehouse/Pack Farms Food Retailers Government Departments Others
Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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