About Food Safety Monitoring System
A food safety monitoring system is used to easily demonstrate food safety monitoring efforts through accurate temperature readings automatically documented in a single, user-friendly platform. Proactive food safety monitoring is critical to take action before noncompliance occurs, track resolution or improvement of food safety hazard controls, and uphold quality standards. According to the study, the global market for food safety monitoring systems is rapidly expanding. As the world's population increases, the intensification and industrialization of agriculture and animal production to meet food demand creates both opportunities and challenges for food safety. Vmoksha Technologies, based in the United States, provides an IONHACCP, food hygiene, and safety management system. Companies can use the system to comply with standards such as Safe Quality Food (SQF), Hazard Analysis and Critical Control Points (HACCP), and ISO 22000. The platform uses cutting-edge technologies such as the Internet of Things (IoT), cloud services, and mobile apps to automate food safety compliance for ingredient suppliers, processors, manufacturers, packaging, retail, and restaurant chains.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.0% |
These top companies have a global monopoly on the Food Safety Monitoring System market. Many other international and national regional producers compete directly with the market leaders in this industry. Market leaders are heavily invested in market growth strategies, including investments in developed technologies, additional resources, and dominant market positions. The companies operating in this industry are focusing on efficient growth, improvement of operational efficiency and productivity, achieving high print and digital standards, and focus on maintaining sustainable development. The players are focusing on securing a leading position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet high market share, and develop socially responsible business companies are identifying various strategic pillars such as mergers & acquisitions, new product launches, product enhancements, and others. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Food Safety Monitoring System market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ellab A/S (Denmark), Digi International Inc. (United States), E-Control Systems, Inc. (United States), Sonicu (United States), Monika (United Kingdom), ComplianceMate (United States), Innoflex Pte Ltd. (Singapore), Testo SE & Co. KGaA (Germany), Balluff Inc (United States) and SafetyCulture (Australia) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Tek Troniks Limited (United Kingdom), Monnit Corporation (United States), Swift Sensors (United States) and Mesa Labs, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Food Safety Monitoring System market by Type (Hardware and Software), Application (Food Manufacturer, Catering Business, Food Retailer and Others) and Region.
On the basis of Type, Hardware are dominating the market in the year 2023 where as Software stood as second largest market share.
On the basis of application, Food Manufacturer segment is dominating the market in the year 2023 where as Food Retailer segment stood as second largest market .On the basis of geography, the market of Food Safety Monitoring System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Inclination towards Automated Monitoring over Manual, Huge Addressable Rise in Cost-Efficient Food Safety Monitoring and Rapid Adoption of Advanced Technology like IoT and AI in Systems
Market Growth Drivers:
Growing Acceptance Due To Integrated Corrective Action Tool With Centralized Documentation and Rapid Shift toward Food Safety and Hygiene in Order to Reduce Food Waste
Challenges:
Lack of Prevention Infrastructure in Food Processing
Restraints:
Stringent Regulatory Guidelines on the Food Safety and Packaging
Opportunities:
Ongoing Penetration of Advanced and Digital Offerings in Food Manufacturing, Catering, and Food Retailing, Demand for Dood Safety Monitoring to Avoid Harmful Effects of Spoiled Food Consumption on Health and New Developments in Data Security Regimes and Legal Norms Regarding Food Safety and Their Monitoring Requirements
Market Leaders and their expansionary development strategies
In September 2021, Mesa Labs, Inc. announced the acquisition of Agena Bioscience, Inc. Mesa expects to finance the all-cash transaction with a combination of cash on hand and proceeds from our credit facility. Agena brings an innovative approach to the challenges of clinical genomics. Their MassArray system is a proven platform that integrates the best of mass spectroscopy and multiplex PCR; providing a unique combination of sensitivity, cost-effectiveness, fast turnaround time, ease of use, and flexibility.
In January 2021, Swift Sensors launch its secure wireless vaccine storage unit monitoring and alert system to enable medical facilities and pharmacies to remotely monitor COVID-19 vaccine storage temperatures, automate data logging, and respond quickly in case of equipment problems or power failure. Each Swift Sensors vaccine package includes at least one wireless remote temperature sensor to relay storage temperature data to an included wireless gateway. and In August 2021, ComplianceMate announced the release of the latest version of the ComplianceMate Food Safety and Back of House Operations software system. A new version of the software can be integrated with customers' existing systems for data analytics and enhance the user experience.
Every food business is required by law to have a food safety management system in place that identifies potential food hazards. It is necessary to determine which of these hazards must be managed in order to ensure the safety of the food, implement effective control measures and monitoring procedures to reduce the risk of causing harm to users, and keep written records of actions. HACCP is another name for this system (Hazard Analysis and Critical Control Points). To assist food business operators in controlling their food safety management procedures, the Food Standards Agency has developed a variety of food safety management packages for various sectors of the food industry.
Key Target Audience
Food Safety Monitoring System Providers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.