Global Food Traceability Market Key Players and Future Trends – Industry Analysis
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Focus on more transparency across the food supply chain, use of predictive analysis, and better visibility of goods
VANCOUVER, BC, CANADA, March 15, 2022 /EINPresswire.com/ -- The global food traceability market size reached USD 4.54 Billion in 2020 and is expected to register a revenue CAGR of 10.2%, during the forecast period, according to latest analysis by Emergen Research. Some of the major factors driving global food traceability market revenue growth include increasing deployment of traceability solutions to digitize, secure, and leverage valuable data, thereby enabling safe and sustainable transparency in the supply chain and for tracking and tracing products flow – from raw materials to consumers – and more innovative, interoperability, and efficiency. In addition, rising need to increase quality control systems and reduce risks are other factors expected to continue to boost revenue growth of the market in the near future. Quality control in food traceability systems can enable evaluation of food quality along supply chain stages and aids in enhancing customer experience and satisfaction.
Continuous consumer demand for more transparency related to food product aspects to be provided on product labels – from origin of raw materials to agricultural practices and ingredients used in the production of food products – is expected to support market growth going ahead. Raw material traceability solutions provide complete visibility, thereby enabling consumers to know producer details with socio-economic profile information, farming practices, and potential human and environmental impact, and deployment of these solutions is expected to continue to incline and in turn, boost , market growth.
The market forecasts included in the report are performed by our team of experts and are of great significance as they provide deep insights into various crucial industry parameters. These facts and figures help readers evaluate the global market growth, production, and consumption rates, volatility in demand and product prices, and upcoming market trends over the projected period. The market research report contains significant details on the global Food Traceability market value based on market dynamics and various growth factors. It scrutinizes several key aspects of the market, including the latest technological innovations in the industry, ongoing trends, and developmental opportunities. One of the most vital components of the report is the SWOT analysis, coupled with a detailed overview of the market’s competitive landscape.
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However, complexities related to lack of standardization and concerns regarding traceability along the supply chain design and optimization are some key factors expected to hamper market growth to some extent over the forecast period. Supply chain traceability is a tool for detecting food-related issues. Focus on traceability has recently shifted to other industries, which can be critical from economical, operational, and risk management standpoints. Thus, ensuring the maintenance of close control of products through the adoption of comprehensive supply chain design and optimization are expected to hamper growth of the global food traceability market over the forecast period. Incorrect or inaccurate labelling, faults during production, and lack of identification of conditions that can pose risks to the safety of consumers can lead to loss of consumer trust in food traceability.
Leading companies profiled in the report are:
Honeywell International Inc., Cognex Corporation, Keyence Corporation, Bext360 Inc., Foodlogiq LLC, TraceOne Inc., Traceall Global Limited, Merit-Trex Technologies Inc., TE-Food Enterprise, and Carlisle Incorporated.
Emergen Research has segmented the global food traceability segments on the basis of equipment, software, technology, application, end-use, and region:
Equipment Outlook (Revenue, USD Billion; 2018–2028)
Sensors
Thermal Printers
Tags & Labels
PDA with GPS
2D & 1D Scanners
Others
Software Outlook (Revenue, USD Billion; 2018–2028)
Warehouse Software
Laboratory Information Management Software (LIMS)
Enterprise Resource Planning (ERP)
Others
Technology Outlook (Revenue, USD Billion; 2018–2028)
GPS
Infrared
RFID/RTLS
Barcode
Biometrics
Application Outlook (Revenue, USD Billion; 2018–2028)
Dairy
Fisheries
Beverages
Fresh Produce & Seeds
Meat & Livestock
Others
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Food Retailers
Defense
Food Manufacturers
Warehouse
Government
Major Regions Covered in the Food Traceability Market Report:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
To know more about the report, visit @ https://www.emergenresearch.com/industry-report/food-traceability-market
Key Reasons to Buy This Report:
The report presents a thorough examination of the Food Traceability market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
A SWOT analysis is performed on the leading companies engaged in the Food Traceability market to offer a better understanding of the strengths, opportunities, weaknesses, and threats of the leading companies. It also covers production and consumption rate, the volatility of prices and demands, market share, market size, global position, and market position of each player. The report also analyses key elements such as growth trends, concentration area, business expansion strategies, market reach, and other key features that offer companies insightful data to fortify their position in the Food Traceability industry.
RESEARCH METHODOLOGY:
The research found on the market used to be carried out in 5 phases which encompass Secondary research, Primary research, issue count number, professional advice, great test, and remaining review.
The market statistics were once analyzed and forecasted the usage of market statistical and coherent models. Also, market shares and key traits had been taken into consideration whilst making the report. Apart from this, different statistics fashions consist of Vendor Positioning grids, Market TimeLine Analysis, Market Overview and Guide, Company Positioning grids, Company Market Share Analysis, Standards of Measurement, Top Bottom Analysis, and Vendor Share Analysis.
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Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.
About Us:
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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