Food Traceability Market, By Technology Type (Barcodes, Radio-frequency identification, Infrared Biometrics, Global positioning system), By Software Type (Friction Welding, Enterprise Resource Planning, Warehouse Software, Laboratory Information Management Software (LIMS), Others), By Application (Fresh Produce food products, Ready-to-eat Food Products, Dairy Products, Meat & Seafood Products, Beverages, Others), By Region Analysis - Global Analysis and Industry Forecast Report Till 2030.

Food Traceability Market is predicted to grow USD 17.2 billion in 2021, to USD 45.8 billion by 2030 at a CAGR of 11.3% during the forecast period.

Food traceability makes it possible to follow a food product's ingredients backward and forwards through all stages of the supply chain. The creation, processing, and distribution of various food items and ingredients are documented and linked. It assists regulatory authorities in quickly locating the product's source and any potential sites of contamination during an outbreak of a foodborne illness. This enables the problematic product to be taken off the market more quickly, decreasing the likelihood of foodborne diseases.

There is an increased need for food traceability systems, which identify the necessary paperwork and tracking for each stage of food processing. Also, food traceability systems are extremely helpful tool for analyzing, monitoring, and managing the flow of products is the rise in demand for critical instruments in the agri-food sector. These are the reasons which will propel the growth of food traceability market.

Market Dynamics:

Drivers:

The expansion of the global food traceability industry is being driven by the legal framework and certifications and standardizations. Strict regulations set forth by oversight organizations for food safety in a number of developed and developing nations are responsible for this advancement. Other reasons driving the market's expansion include brand loyalty, competitive advantage, contamination tracking, and information flow upstream and downstream of the supply chain.

Consumers' increased concerns about food safety are also helping the market expand favorably. Also, the rise in food-borne illnesses and cases of food adulteration causes serious health issues, which is anticipated to fuel the market for food traceability throughout the forecast period. Furthermore, it is projected that the rise in product recalls and contamination traces would further support the growth of the food traceability market throughout the forecast period.

Restraints:

Food goods may be traced and followed along the entire supply chain, from the raw ingredient to the final customer. There are sophisticated technological options, including barcodes and Radio Frequency Identification (RFID), for following things through supply chains. The technology provides data collection, recording, storage, and exchange of traceability attributes on processing, genetics, inputs, disease tracking, and measurement of environmental variables in addition to providing product traceability. However, there are issues with these technologies' implementation, such as preventing unwanted access to and tampering with the RFID tag's data storage security and privacy. As a result, concerns about consumer and manufacturer privacy in the context of data sharing are limiting the market's potential to expand for food traceability.

Opportunities:

The legal framework, certifications, and standardizations are the main growth factors for the global food traceability market. The main reason for the growth is governments in both developed and developing nations are required to follow the standards of food safety, which helps I market expansion. The other factors helping the market grow are, competitive advantage and brand loyalty, product recall and contamination traceability, as well as the flow of information upstream and downstream of the supply chain.

Key Players:

• C.H. Robinson Worldwide, Inc

• Bio-Rad Laboratories, Inc.

• OPTEL GROUP

• Cognex Corporation

• Honeywell International Inc.

• SGS SA

• Zebra Technologies Corp.

• Bar Code Integrators, Inc

• Carlisle Companies Inc

• Merit-Trax Technologies

• FoodLogiQ

• Food Forensics Limited

• Bext360

• ANTARES VISION S.p.A.

• Covectra

• TE-FOOD International GmbH

• Source Trace

• Trace One

• Crest InfoSolutions

• Damselfly Solutions Inc.

Market Segmentation:

Food Traceability Market, By Technology Type

• Barcodes

• Radio-frequency identification

• Infrared

• Biometrics

• Global positioning system

Food Traceability Market, By Software Type

• Friction Welding

• Enterprise Resource Planning

• Warehouse Software

• Laboratory Information Management Software (LIMS)

• Others

Food Traceability Market, By Application

• Fresh Produce food products

• Ready-to-eat Food Products

• Dairy Products

• Meat & Seafood Products

• Beverages

• Others

Food Traceability Market, By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa

Regional Analysis:

Europe is expected to grow significantly as a result of rising consumer demand for food transparency. Consumers, corporations, and organizations in the European Union are calling for more open and honest disclosure of the locations and methods used in food production, processing, packaging, distribution, and handling.

The North American Food Traceability market is expected to expand throughout the projected period. Due to the rising need for food traceability in nations like the U.S. and Canada, Federal regulatory agencies including the Centers for Disease Control and Prevention, the Food and Drug Administration, and the Food Safety and Inspection Service (FSIS) of the USDA collaborate closely to advance food safety in the country.

The Asia Pacific region is expected to have significant growth in Food Traceability Market Food. Safety and excellent quality are priorities for consumers. The shift in people's eating habits brought on by a greater awareness of nutritious foods and beverages is also increasing demand for food traceability services. The region's market for food traceability may be propelled forward by the millennial generation's growing need for healthy, safe food and beverages.

Scope of the Report:

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