Global Food Traceability Trends

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Global Food Traceability Market valued approximately USD 12.3 billion in 2017 is anticipated to grow with a healthy growth rate of more than 9.64% over the forecast period 2018-2025. 

Food Traceability Market 2025

The major driving factor of global food traceability market are enhancement in food traceability technologies, growing application in diverse sectors and increasing penetration of modern retail. Increasing number of product recalls, growing consumer concern for food safety and stringent export regulation are the some other driving factor that drives the market. The major restraining factors of food traceability market are high cost of traceability equipment, privacy issues in data sharing and lack of stringent laws in developing nation.Term traceability refers to the recording through means of barcode or RFID tags & other tracking media, all movement of product and steps within the production process.

Traceability within the food processing industry also utilized to identify key high production & quality areas of a business, verses those of low return and where points in the production process may be improved.Food Traceability increases the inventory accuracy that allows the firm to meet customer demand more efficiently. Product tracing system support decision that impact brand reputation of food as it improves food product tracing improves decision making ability. Food traceability reduces time to access critical data in the event of a recall and reduces the scope of a recall. Food traceability also helps identify and minimize certain hidden cost.

The major market player of Global Food Traceability Market :
  • Bio-Rad Laboratories Inc. 
  • C.H. Robinson Worldwide Inc.
  • Cognex Corporation
  • Honeywell International Inc.
  • SGS SA
  • Barcode Integrators Inc.
  • Carlisle Technology Inc.
  • Mass Group Inc.
  • Merit-Trax Technologies Inc.
  • Picarro Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. 

Major Regoins of Global Food Traceability Market :
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World
Target Audience of the Global Food Traceability Market in Market Study:
  • Key Consulting Companies & Advisors
  • Large, medium-sized, and small enterprises
  • Venture capitalists
  • Value-Added Resellers (VARs)
  • Third-party knowledge providers
  • Investment bankers
  • Investors
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