Food Traceability Market by Equipment, Technology, End-User and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025

NEW YORK, July 9, 2019 /PRNewswire/ --

Food Traceability (Tracking Technologies) Market by Equipment (PDA with GPS, Thermal Printers, 2D & 1D Scanners, Tags & Labels, Sensors), Technology (RFID/RTLS, GPS, Barcode, Infrared, and Biometrics), End-User (Food Manufacturers, Warehouse/Pack Farms, Food Retailers, Defense & Security Departments, Other Government Departments, and Others) and Application (Meat & Livestock, Fresh Produce & Seeds, Dairy, Beverages, Fisheries, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025

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Global food traceability market was valued at $10,963.0 million in 2017, and is expected to reach $22,274.1 million by 2025, registering a CAGR of 9.3% from 2018 to 2025. Food traceability is a risk-management tool used to check potential harms that may be associated with food, feed, food-producing animals, or substance. This is meant to ensure food safety through all stages of food production, processing, and distribution. Food traceability involves food business authorities to recall or drop out products considered unsafe, and allows provision of accurate information to the public. Food traceability prevents transmission of disease from animals to humans and controls the presence of certain chemicals above fixed limits, which when used in excess can affect the quality of products related to feed & food.

The food traceability (tracking technologies) market is growing at a healthy rate owing to increase in awareness about food safety among governments and consumers. Consumers are willing to pay a high price for premium products that support social responsibility traits requiring food tracking and traceability. Moreover, growth in globalization enhances the complexity of supply chain process (from harvest to final sale), leading to high chances of food contamination. This is expected to increase the demand for food traceability and tracking technologies, as it ensures quality and safety of the food supplied, enhances chances of rapid and precise product recalls, and accurately tracks causes of contamination. Furthermore, adoption of traceability systems is expected to enhance supply chain efficiency by providing detailed historical data about timings, condition, handling, and flow of goods. Asia-Pacific is projected to dominate the global market, with China leading the market, owing to its population strength and rise in health concerns.

The global food traceability (tracking technologies) market is analyzed based on equipment, technology, end user, application, and region. Based on equipment, it is divided into PDA with GPS (Personal Digital Assistant with Global Positioning System), thermal printers, 2D & 1D scanners, tags & labels, sensors, and others. Technologies involved in this market are broadly categorized into radio frequency identification/real-time location system (RFID/RTLS), GPS, barcode, infrared, and biometrics. Applications included in this study are meat & livestock, fresh produce & seeds, dairy, beverages, fisheries, and others. The different end users of this market are food manufacturers, warehouse/pack farms, food retailers, defense & security departments, other government departments, and others.

The market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. In 2016, Asia-Pacific accounted for the largest share in the global market, followed by North America. The former region is projected to maintain its dominance throughout the forecast period.

Recent updates related to this market include introduction of traceability technology by Fonterra in April 2017, for letting its customers to check the authenticity of infant formula products on store shelfs in New Zealand. In addition, launch of online traceability platform by the Crunchies Natural Food Company, of Westlake Village, Callif. In April 2017, has allowed its consumers to trace the source of the fruits or vegetables purchased.

Comprehensive competitive analyses of leading market players, including Bio-Rad Laboratories, Inc., CH Robinson Worldwide Inc., Cognex Corporation, E. I. Du Pont de Nemours and Company (DuPont), Honeywell International Inc., International Business Machines Corporation, Motorola Solutions, Inc., SGS SA, Zebra Technologies Corporation and MASS Group Inc., are provided in this report.

KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current and emerging market trends and opportunities in the food traceability market.
• The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing market opportunities.
• A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
• An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

KEY MARKET SEGMENTS

By Equipment
• PDA with GPS
• Thermal Printers
• 2D & 1D Scanners
• Tags & Labels
• Sensors
• Others

By Technology
• RFID/RTLS
• GPS
• Barcode
• Infrared
• Biometrics

By Application
• Meat & Livestock
• Fresh Produce & Seeds
• Dairy
• Beverages
• Fisheries
• Others

By End User
• Food Manufacturers
• Warehouse/Pack Farms
• Food Retailers
• Defense & Security Departments
• Other Government Departments
• Others

By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Germany
o Italy
o France
o Spain
o Rest of Europe
• Asia-Pacific
o India
o China
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Turkey
o Rest of LAMEA

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