Food Traceability Market Outlook, Growth (CAGR of 9.2%), Demand, Key Player Analysis and Opportunity 2023-2028

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Food Traceability Market Outlook, Growth (CAGR of 9.2%), Demand, Key Player Analysis and Opportunity 2023-2028
Food Traceability Market
The growing number of deaths, on account of the increasing prevalence of foodborne diseases, is primarily driving the food traceability market.

How Big is the Food Traceability Market ? :

IMARC Group’s latest research report, titled “Food Traceability Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the food traceability market report. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global food traceability market size reached US$ 18.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.

What are Food Traceability and Uses ? :

Food traceability refers to the process that is utilized for tracking the movement of food products and their ingredients via all steps in the supply chain, forward and backward. It generally involves documenting and linking the processing, production, and distribution of several food products and components. It also assists governing authorities in tracking items during the outbreak of foodborne diseases to find the source and where the contamination may have occurred. This process provides transparency, ensures the quality of raw materials, lowers food testing expenses, allows certification of products, etc. Consequently, it is gaining extensive traction across the globe.

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Who are the key Players Operating in the Industry ? :

  • 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

What are the Growth Prospects and Trends in the Food Traceability Industry ? :

The growing number of deaths, on account of the increasing prevalence of foodborne diseases, is primarily driving the food traceability market. Additionally, the inflating need for transparent information and the introduction of modern tracking and tracing methods are further bolstering the market growth. Besides this, the widespread adoption of food traceability systems as a part of an overall cost-effective quality management system that also helps in reducing the impact of safety hazards is acting as another significant growth-inducing factor.

Moreover, the rising usage of advanced blockchain technologies in food traceability to enhance the ability to validate and authenticate food origin and improve brand credibility is positively influencing the global market. Apart from this, the escalating demand for ready-to-eat (RTE) food products and extensive R&D activities are also stimulating the market growth. Furthermore, the elevating consumer health consciousness is anticipated to fuel the food traceability market over the forecasted period.

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What is Included in 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)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, 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 (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape 

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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