The global food traceability market is expected to grow from USD 11.89 billion 2017 to USD 19.22 billion by the end of 2024 at a Compound Annual Growth Rate (CAGR) of 7.10%.
"Need to detect traces of contamination and assists product recallsis one of the factors largely attributing to the growth of food traceability market globally"
The factors attributing to the growth of the market are need to detect traces of contamination and assists product recalls, certifications and standardizations, growing consumer concern for food safety, and need for information flow upstream & downstream of supply chain. However, some factors such as additional cost associated with deployment of traceability systems, and coequal participation of stakeholders may hinder the market growth. The global food traceability market is expected to showcase the opportunities such as growing demand in emerging economies, and new product development. In the near future, the market may face the possible challenges in the growth due to and data collection and accuracy issues. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the global food traceability market market.
On the basis of technology, the global food traceability market is studied across Barcodes, Biometrics, Global Positioning System, Infrared, and Radio-Frequency Identification.
On the basis of type, the global food traceability market is studied across Beverage Products, Dairy Products, Fresh Food Products, Meat & Poultry Products, and Seafood Products.
On the basis of end user, the global food traceability market is studied across Food Manufacturers, Food Retailers, Food Warehouses & Pack Farms, and Government Departments.
On the basis of geography, the global food traceability market is studied across Americas, (United States, Brazil, Canada, Mexico, and Argentina) Europe, Middle East & Africa, (United Kingdom, Germany, France, Saudi Arabia, United Arab Emirates, Italy, and Russia) and Asia-Pacific (China, Japan, India, and Australia).
"Bar Code Integrators, Inc.: The potential growing player for the global food traceability market"
The key players profiled in the global food traceability market are Bar Code Integrators, Inc., Bio-Rad Laboratories, Inc., C.H. Robinson Worldwide, Inc., Carlisle Technology Inc., Cognex Corporation, E. I. du Pont de Nemours and Company, Honeywell International, Inc., International Business Machines?Corporation, Mass Group Inc., Merit-Trax Technologies Inc., Motorola Solutions, Inc., Picarro Inc., SGS SA, and Zebra Technologies Corporation.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the global food traceability market.
2. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the global food traceability market.
3. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the global food traceability market.
4. Market Diversification: Provides detailed information about new products launches, untapped geographies, recent developments, and investments in the global food traceability market.
5. Competitive Assessment & Intelligence: Provides exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global food traceability market.