About Food Traceability
Food Traceability is the ability to track any food through any stages of production, processing, and distribution. It enables corrective actions such as a product recall to be implemented quickly and effectively when something goes wrong. When a potential food safety problem is recognized, whether by a food business or a government agency, an effective traceability system can help isolate and inhibit contaminated products from reaching consumers. It allows food businesses to target the products affected by food safety issues, minimizing disruption to trade and any potential public health risks. It is important for all food businesses including retailers as well as importers to be able to trace products.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.1% |
Food Traceability is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Food Traceability market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bio-Rad Laboratories, Inc. (United States), C.H. Robinson Worldwide, Inc. (United States), Cognex Corporation (United States), Honeywell International, Inc. (United States), SGS SA (Switzerland), Bar Code Integrators, Inc. (United States), Carlisle Technology Inc. (Canada), Mass Group Inc. (United States), Merit-Trax Technologies Inc. (Canada) and Picarro Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Zebra Technologies Corporation (Zebra Technologies) (United States), Motorola Solutions, Inc. (United States), International Business Machines Corporation (IBM) (United States), Bureau Veritas Group (France) and Auchan Retail Company (France).
Segmentation Overview
AMA Research has segmented the market of Global Food Traceability market by , Application (Meat & Livestock, Fresh Produce & Seeds, Dairy, Beverages, Fisheries and Others) and Region.
On the basis of geography, the market of Food Traceability has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, 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). If we see Market by Equipment, the sub-segment i.e. PDA with GPS will boost the Food Traceability market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. RFID/RTLS will boost the Food Traceability market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Food Manufacturers will boost the Food Traceability market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Use of Blockchain & IoT in Food Traceability
Market Growth Drivers:
Traces Contamination and Assists Product Recalls, Legislative Frameworks, Certifications and Standardizations, Competitive Edge and Brand Loyalty and Information Flow Upstream & Downstream Of Supply Chain
Challenges:
Lack of Tracking Records, Overlapping and Conflicting Demands and Weak Technical Systems
Restraints:
Associated Cost, Lack of Stringent Laws in Developing Nations, Varying Needs for Different Products, Privacy Issues for Data Sharing and Coequal Participation of Stakeholders
Opportunities:
High Demand for Tracking Technologies in Emerging Economies
Market Leaders and their expansionary development strategies
In September 2023, IFoodDS and IBM announced a tech-enabled traceability solution to help companies across the food supply chain address the FDA's Food Traceability Rule, FSMA 204(d). Building on decades of experience in food traceability software, the new solution, iFoodDS Trace Exchange, has cater to enterprise scalability demands and address supplier needs.
In November 2023, Superplum launched traceability system. Superplum says its digital supply chain integrates fruit production, transportation and delivery and provides complete transparency to consumers on the fruits’ journey from farm to store.
Key Target Audience
Food Traceability Companies, Food Importer/Exporter, Food Retailers, Regulatory & Government Bodies, Technology Investors and Downstream Vendors
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.