Food Traceability Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Food Traceability Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : February, 2020 | Food and Beverages | PPT format

Report Digest


Global Food Traceability Market: Snapshot

The demand within the global food traceability market has been rising on account of changing production trends within the food industry. Food traceability, in essence, refers to the tracking of food products throughout the distribution cycle from manufacturing to retail. Furthermore, food traceability enables the end-users to know the movement of food products with scope for one step backward and a step forward. The changing trends within the food industry have played a vital role in the growth of the global food traceability market in recent times. food traceability standards. Hence, there is little contention about the presence of a stellar food industry which shall in turn aid market growth.

The use of food traceability tools helps manufacturers in getting a competitive advantage. This factor has led to the growth of the global food traceability market in recent times. Moreover, standardization of processes within the food industry have led to the growth of the global food traceability market. The increasing competition within the food industry has compelled the manufacturers to induct new processes. This has led to the adoption of food traceability options across the market. Moreover, the advent of improved distribution channels for food distribution has also generated large-scale revenues within the global food traceability market.

On the basis of geography, the global food traceability market has been segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The global food traceability market in North America has been expanding at a stellar pace in recent times.

Global Food Traceability Market: Overview

Food traceability framework keeps up the record of the influx of products which are really implied for human utilization all through the creation procedure. Since food creation and the dissemination is an intricate procedure the organizations consider food traceability framework as the best apparatus to fathom all the food-related difficulties. Food traceability causes the organizations to make crisp food products accessible to their purchasers, along these lines helping in lessening food-borne illnesses.

This framework is basic for food examinations and is significant in global food exchange as multi fixing food incorporates materials from assortment of food chain and nations. It includes perceiving the inception of food and its goal, from where it will be conveyed to end clients.

This report gives top to bottom analysis of the global food traceability market, focusing on opportunities and market restraints, alongside the most recent trends driving the market. The report sections the global food traceability market dependent on its end-user, technology, and region.

Global Food Traceability Market: Trends and Opportunities

Food traceability market in retailers are utilized to accomplish inward and outside traceability. Interior traceability enables the organization to finish the product the framework subsequent to getting the receipt from the provider while the outer traceability takes into consideration the association with prompt inventory network accomplice. Mechanical progressions and the expanding number of product reviews and follows pollution are the essential variables expected to increase the development of the global food traceability market in the following couple of years.

A portion of the key innovations for food traceability utilized over the globe are RFID, scanner tag, biometrics, infrared, and GPS. These innovations have assorted applications in various sorts of food products and at various phases of the food development. At present, scanner tag is utilized broadly for packaged foods, though GPS and RFID are utilized generally for food including development of live feedstock.

Factors impacting the food traceability market incorporate extra expense for traceability innovation and security issue for information security, since information the executives, information following and security of information is cost-arranged.

Global Food Traceability Market: Market Potential

FoodTrace is one of the projects in Europe that is intended to upgrade traceability methods between organizations. It requests the foundation of a characterized recognizable proof framework and a system of databases, so as to unify and share the data. The controls identified with food security are most stringent in Europe, when contrasted with some other region. Food and feed traceability has been mandatory in Europe, since 2002 for a wide range of food organizations in the area.

Another common trend in the food following industry would be computerized store network in which advancements like prescient examination, better perceivability over the development of products and mechanical technology encourage the stockroom and dispersion focuses to follow food proficiently.

Global Food Traceability Market: Regional Outlook

In contrast to North America and Europe, the adoption rate of food traceability frameworks is low in developing economies. All things considered, buyers in these creating countries have an expanded mindfulness for food wellbeing.

Asia-Pacific is anticipated to be the quickest developing business sector for food traceability amid the survey time frame. This is driven by the mechanical headway and developing worry for food security among buyers in creating nations, for example, India and China.

Global Food Traceability Market: Competitive Landscape

The global food traceability market is at an incipient stage and holds enormous potential to develop in the following couple of years. Driving players in the market are expected to present new advances, accentuating on these difficulties so as to expand the development of the food traceability market over the globe.

Honeywell International Inc., C.H. Robinson INC., DuPont Nutrition & Health, Intermec Inc., Motorola solutions, Inc., Cognex Corporation, MASS Group, Bio-Rad Laboratories, IBM Corp, and Zebra Technologies.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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