Food Traceability Market - Trends Forecast Till 2028

Food Traceability Market – Trends Forecast Till 2028

The global food traceability market is anticipated to reach USD 17.9 billion in 2021 growing at a CAGR of 9.4% during the forecasting period 2021-2028

Implementation of effective traceability systems improves the ability to implement verifiable safety and quality compliance programs. The resulting visibility of relevant information enables agri-food businesses to better manage risks and allows for quick reaction to emergencies, recalls, and withdrawals. Effective traceability systems significantly reduce response times when an animal or a plant disease outbreak occurs, by providing more rapid access to relevant and reliable information that helps determine the source and location of implicated products. 

Thus, information (about animal and plant health, country of origin, etc.) at any point in the chain from producer to consumer has become crucial. 

Initiatives taken by regulatory bodies for the amelioration of food safety across countries, increment in foodborne diseases, and food adulteration incidents cause serious health-related issues and boost in global healthcare expenditure for foodborne diseases will drive the market growth and are also some of the factors that have supported long-term expansion for Global Food Traceability Market.

The global food traceability market is segmented into technology, software, end-user, application, and geography.

Technology segment is segmented into Radio-Frequency Identification, Barcodes, Infrared, Biometrics and Global Positioning System.

Software segment is segmented into Enterprise Resource Planning (ERP), Friction Welding, Laboratory Information Management Software (LIMS), Warehouse Software, and other Software Types.

Application is segmented into Fresh Food Produce, Meat, Poultry & Seafood Products, Dairy Products, Beverage Products, other applications.

End-User is segmented into Food Manufacturing, Warehouse & Transport, Retailing, Government Departments, and Other End-Users. 

Geographically, the global food traceability market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Key players in the global Food Traceability Market are C.H. Robinson, Bio-Rad Laboratories Inc, OPTEL group, Cognex, Honeywell International Inc., SGS SA, Zebra Technologies, Bar Code Integrators, Carlisle, Merit-Trax, Safe Traces, Food Forensics, Bext360, rfxcel, Covectra, and VeeMee among others.

Available Customizations

In addition to the market data for Global Food Traceability Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the Global Food Traceability Market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global Food Traceability Market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological developments. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the Global Food Traceability Market.

Primary Respondent breakdown is given below:

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the Global Food Traceability Market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

• Leading Companies
• Suppliers & Distributors
• Manufacturers
• Consumers
• Industry/Strategic Consultants 

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
• Gain authentic and granular data access for Global Food Traceability Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope
 

Report Feature	Descriptions
Market Revenue In 2021	USD 17.9 billion
Growth Rate	CAGR of 9.4% during the forecasting period, 2021-2028
Historical Data	2018-2019
Forecast Years	2021-2028
Base Year	2020
Units Considered	Revenue in USD billion and CAGR from 2021 to 2028
Report Segmentation	Technology, Software, Application, End-User, and Geography
Report Attribute	Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling
Regional Level Scope	North America, Europe, Asia-Pacific, South America, and the Middle East and Africa
Country Level Scope	U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)
Companies Profiled	C.H. Robinson, Bio-Rad Laboratories Inc, OPTEL group, Cognex, Honeywell International Inc., SGS SA, Zebra Technologies, Bar Code Integrators, Carlisle, Merit-Trax, Safe Traces, Food Forensics, Bext360, rfxcel, Covectra, and VeeMee among others
Available Customization	In addition to the market data for Global Food Traceability Market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.