Food Traceability Market Size Worth US$ 29.22 Billion by 2027 | CAGR of 9.60%

SHERIDAN, WYOMING, UNITED STATES, November 22, 2022 /EINPresswire.com/ -- IMARC Group’s latest report, titled “Food Traceability Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global food traceability market size reached a value of US$ 16.46 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 29.22 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027.

Food traceability refers to identifying and validating various stages of the food chain from production to distribution. The process involves recognizing the origin of food and its destination from where it is expected to be distributed to different end-users. It helps to maintain the record of the flow of the products. The food traceability system plays an essential role in food investigations, and the global food trade as multi-ingredient food is made of materials that come from a variety of food chains & countries.

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Food Traceability Market Trends:

The global market is majorly driven by the growing demand for safe-to-consume products among the consumers. In line with this, rapid development, and utilization of advanced technology-based solutions such as infrared, RFID, biometrics, barcode, NFC, and sensors are significantly contributing to the market growth. Furthermore, the increase in foodborne diseases and food adulteration incidents are positively influencing the market growth across the globe. Besides this, stringent regulations imposed by the government of various countries for the adoption of food traceability system is catalyzing the market growth. Moreover, the introduction of new food traceability equipment, such as personal digital assistance with GPS and thermal printers, is creating a positive outlook for the market. Additionally, an increase in demand for food traceability systems in the agri-food sector is providing a boost to the market growth worldwide.

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Competitive Landscape with Key Players:

• 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

Key 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)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, 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 (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Services Private Limited
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