What is Food Tracking Technologies?
Food tracking technologies is the technology 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 tracking 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.
The market study is broken down, by Application (Warehouse/Pack Farms, Food Retailers, Defense & Security Departments and Others) and major geographies with country level break-up.
The market is highly fragmented with the presence of various players in the market. Some of the key strategies followed by the players operating in the market were innovation, product development, acquisition, and expansion. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Food Tracking Technologies market throughout the predicted 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
AdvanceMarketAnalytics has segmented the market of Global Food Tracking Technologies market by Type, Application and Region.
On the basis of geography, the market of Food Tracking Technologies 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 Tracking Technologies 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 Tracking Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Meat & Livestock will boost the Food Tracking Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 28 Nov 2018, Auchan Retail has launched blockchain technology for food traceability internationally., On 24 Sept 2018, Walmart has implemented IBM's blockchain for food traceability. and On 28 Feb 2018, Bureau Veritas has launched Origin, the world’s first traceability label to give consumers a complete end-to-end proof of a product’s journey, from farm to fork
Market Trend
- The Use of Blockchain & IoT in Food Tracking Technologies
Market Drivers
- Traces Contamination and Assists Product Recalls
- Certifications and Standardization
- Assist in Competitive Edge and Brand Loyalty
- Information Flow Upstream & Downstream Of Supply Chain
Opportunities
- High Demand for Tracking Technologies in Emerging Economies
Restraints
- Cost Associated with the Food Tracking Technologies
- Lack of Stringent Laws in Developing Nations
- Varying Needs for Different Products
- Privacy Issues for Data Sharing
Challenges
- Lack of Tracking Records
- Overlapping and Conflicting Demands
- Weak Technical Systems
Key Target Audience
Food Tracking 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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.