Global Food Traceability Software Market Overview:
The food traceability software market is expected to grow in the future due to rising incidences of unsafe food in global supply chains and increasing concern for food safety among consumers & governments. Food safety has become critical for both businesses and consumers which is boosting the demand for food traceability software.
As per latest study released by AMA Research, the Global Food Traceability Software market is expected to see growth rate of 9.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Introduction to Highly Automated Food Traceability Software
Market Growth Drivers:
Increasing concern for Food Safety among Consumers & Governments and Growing Foodborne Diseases and Food Adulteration Incidents
Challenges:
Lack of Awareness from the Underdeveloped Regions
Restraints:
Privacy Issues in Data Sharing
Opportunities:
Huge Demand from Food and Beverage Manufactu Industry, Growing Demand in Emerging Economies and Stringent Governments Regulations For Food Tracing
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are DEAR Systems (Australia), FoodLogiQ, LLC (United States), FarmSoft (United States), SoftTrace Ltd (Ireland), Blue Link (Canada), Chetu (United States), Wherefour (United States), JustFood (United States), CAI Software, LLC (United States), Trimble Inc. (United States), ParityFactory (United States) and TraceGains, Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like LogiTrack Systems (Canada), E Food-ERP (United States) and Minotaur Business (Canada). Analyst at AMA Research see United States Players to retain maximum share of Global Food Traceability Software market by 2030. Considering Market by End User, the sub-segment i.e. Food Traceability in Manufacturing will boost the Food Traceability Software market.
Latest Market Insights:
In October 2023, Teys Australia, a major meat processor, acquired AgriWebb, a leading farm management platform with robust traceability features. This move aims to create a more integrated "farm to fork" data system.
In December 2023, Oracle launched Oracle Food and Beverage Cloud, a suite of applications designed to manage various aspects of the food supply chain, including traceability. This targets enterprise-level food businesses.
Due to the increasing number of food recalls, regulators are implementing new food and beverage quality standards and requirements to ensure that the food that enters the supply chain is safe for consumers. Thus, the United States' FDA has implied the Food Safety Modernization Act (FSMA) which strengthened the FDA to force a food recall and suspend facility operations.
What Can be Explored with the Food Traceability Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Food Traceability Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Food Traceability Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Food Traceability Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Food Traceability Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Food Traceability Software Developers, Food and Beverage Industry Association, Downstream Vendors, Research and Development Institutes, IT Industry Associations, Government Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.