Global Food Traceability Market Projected to Grow USD 24,406.80 Million by 2026

27-Jul-2021 | Facts and Factors

According to Facts and Factors Research, the global food traceability market was valued at around USD 14,314.95 Million in the year 2020 and is expected to generate about USD 24,406.80 Million by the end of 2026, with a CAGR of approximately 9.3% between 2021 and 2026.

Browse the full report ““Food Traceability (Tracking Technologies) Market by Equipment (PDA with GPS, Thermal Printers, 2D & 1D Scanners, Tags & Labels, Sensors), Technology (RFID/RTLS, GPS, Barcode, Infrared, and Biometrics), End-User (Food Manufacturers, Warehouse/Pack Farms, Food Retailers, Defense & Security Departments, Other Government Departments, and Others) and Application (Meat & Livestock, Fresh Produce & Seeds, Dairy, Beverages, Fisheries, and Others): Global & Regional Opportunity Analysis and Industry Forecasts, 2021 - 2026” at https://www.fnfresearch.com/food-traceability-market

When food and food ingredients are contaminated, food traceability is a technique that may be used to determine the origin and source of the items. It enables food makers to document and track a product's progress through the many phases and operations of the food production process. Processing, handling, and distribution of food products are all part of the manufacturing process. A traceability system uses data and operations to keep track of critical and desirable information about a product as it moves through the manufacturing process. Tracking and tracing are two independent components of food traceability. Throughout the entire food chain, tracing creates records of the history of food products. Food tracking refers to the ability to determine a product's final destination by following its path from the point of manufacture to the point of sale.

Food traceability (tracking technology) entails monitoring the movement of food and associated goods throughout their manufacturing, processing, and distribution processes. Because food production involves several steps, including seed and fertiliser procurement, farming, harvesting, processing, storage, shipping, and retail sales, there are dangers involved, such as contamination, necessitating the use of a food traceability system. Identification, linking, information records, data gathering and storage, and verification are some of the procedures involved. Food tracking's main goal is to ensure food safety and avoid food-borne illnesses, therefore it's directly linked to consumer health.

The food traceability market is expanding at a quicker rate as a result of reasons such as developing countries' technology advancements and rising consumer awareness about food safety. Furthermore, because of increased awareness, these technologies are being used by a variety of end-users from poor countries. The worldwide food traceability industry is being driven by a stringent government legislative framework, certifications, and standardizations in the areas of food safety and production. The high prices of traceability technology, as well as the privacy concern for data protection, are important roadblocks to the market's growth. Furthermore, over the projection period, new smart technology for easy and universal accessibility may present a unique opportunity for food traceability market players.

Market Dynamics

One of the important factors expected to drive the global food traceability market in the next years is the advent of innovative food traceability technologies. To extend their application base and build their presence in the worldwide market, the market's major players are focusing on creating new technologies. Furthermore, rising consumer awareness of food safety is propelling the global food traceability market forward.

Some of the driving reasons for the food traceability market are rising customer concern about food safety and an increase in food adulteration incidences. However, the expensive costs of food traceability equipment, as well as the privacy concerns, are limiting the market's expansion. The food traceability business is seeing new prospects as growing economies like Brazil, India, and China continue to develop.

In the pharmaceutical, personal care, food, beverage and other industries, the usage of barcodes, dot codes and QR codes is required on packaging. This has resulted in a rise in demand for such as barcode scanners, traceable solutions in a variety of businesses that show information in an electronic-readable manner. To read the data on barcodes, data-matrix codes, QR codes, and dot codes and extract information about the object, 2D and 1D scanners are necessary.

Due to its cost-effectiveness, barcodes are the most extensively utilised technology in the food traceability business. To achieve traceability, this technique employs a Global Trade Item Number (GTIN). A GTIN is made up of a firm prefix from GS1 (a non-profit worldwide organisation that develops and maintains demand and supply chain standards) and a unique item reference number that can be read by universal product bar codes or human-readable codes. Scanners based on technology are obsolete, and multi-dimensional readability scanners have taken their place. Various mobile software development companies have created software that allows cellphones to interface with scanners, lowering the cost of superfluous hardware. DNA barcoding is being used as an effective method for determining the biological status of organisms, detecting food contamination, and detecting changes to protect the consumer's health.

According to the WHO's food standards director, in the Central Asian Eastern European regions, where food is handled by more than five ministries, strong communication between the stakeholders is necessary to assure food safety from manufacturing to inspection. These changes are expected to contribute to an increase in the demand for food traceability systems and software to track food contamination.

Regulatory agencies such as the Centers for Disease Control and Prevention (CDC), the US Food and Drug Administration (FDA), and the USDA's Food Safety and Inspection Service (FSIS) are working together at the federal level to promote food safety in the United States. Through PulseNet, the Integrated Food Safety Centers of Excellence, and other programmes, these organisations are building capacity and increasing surveillance and investigation of foodborne diseases. This would open up the potential for technology advancements in the food traceability sector, as they are capable of detecting the source of contamination and thereby identifying the cause of foodborne diseases.

Asia-Pacific is projected to Dominate Global Food Traceability Market Growth

Because of the quick shift in the population's consumption habits as a result of increased awareness about healthy food and beverages, Asia-Pacific is predicted to grow at a substantial rate from 2021 to 2028. Due to early implementation by business experts and government regulations promoting food traceability in these nations, the food traceability market is well established in developed countries such as the United States, the United Kingdom, Japan, Australia, and others. Food can now be obtained from anywhere in the world, posing a significant traceability difficulty. Due to increased awareness and knowledge among the general population, as well as improvements in people's lifestyles, emerging nations such as India, China, Korea, and others are in the process of adopting strict traceability systems, resulting in the rapid growth of the food traceability market in Asia-Pacific.

Report Scope

Top Market Players

Major players functioning in the food traceability market is C.H. Robinson, Bio-Rad Laboratories Inc, OPTEL GROUP, Cognex, Honeywell International Inc., SGS SA, Zebra Technologies, Bar Code Integrators, Carlisle, Merit-Trax, FoodLogiq, Safe Traces, Food Forensics, Bext360, rfxcel, Covectra, SMAG, TE-Food, Mass Group, Source Trace, Trace One, Crest Solutions, Traceall Global, VeeMee and among others.

The global food traceability market is segmented as follows:

By Equipment:

• PDA with GPS
• Thermal Printers
• 2D & 1D Scanners
• Tags & Labels
• Sensors
• Others

By Technology:

• RFID/RTLS
• GPS
• Barcode
• Infrared
• Biometrics

By Application:

• Meat & Livestock
• Fresh Produce & Seeds
• Dairy
• Beverages
• Fisheries
• Others

By End User:

• Food Manufacturers
• Warehouse/Pack Farms
• Food Retailers
• Defense & Security Departments
• Government Departments
• Others

By Region:

• North America

• U.S.
• Canada
• Mexico

• Europe

• France
• UK
• Germany
• Italy
• Spain
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• Australia
• South Korea
• Rest of APAC

• LAMEA

• Brazil
• South Africa
• Saudi Arabia
• Turkey
• Rest of LAMEA

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]