Report Description
A recent market
intelligence report that is published by Data Insights Partner on the global Food
Traceability Market makes an offering of in-depth analysis of segments and
sub-segments in the regional and international Food Traceability Market. The
research also emphasizes on the impact of restraints, drivers, and macro
indicators on the regional and global Food Traceability Market over the short
as well as long period of time. A detailed presentation of forecast, trends,
and dollar values of global Food Traceability Market `is offered. In accordance
with the report, the global Food Traceability Market is projected to expand at
a CAGR of 9.64% over the period of forecast.
Market Insight, Drivers, Restraints&
Opportunity of the Market:
Food
Traceability system is used to maintain the record of the flow of the products
which are intended for human consumption throughout the process of manufacture.
As food production and distribution is a complicated process the key players of
the market regard food traceability system as the most apt apparatus for to
solve all the food-related obstructions. In order to reduce food-borne
diseases, the dominant players of the food traceability market are now using
food traceability systems to help deliver fresh food products to their
consumers. In developed first world countries such as the U.S. and the U.K.,
consumers are ready to pay more for a product having point of origin
certificate and food traceability. Advancement of technology and development of
infrared, RFID, barcode, biometrics and sensors have made food traceability
opportune for the companies in the end use industries. As food production
consists of numerous stages, including sourcing seeds and fertilizers, farming,
harvesting, processing, storage, transportation and retail sales and there are
risks involved in it such as contamination, making food traceability system an
essential and indispensible part of production. The procedures involved in the
process of food traceability include identification, link, records of
information, collection & storage of information and verification.
The key diver of
the global food traceability market is the advancement of technologies in the
food traceability sector. Food traceability has multifarious applications in a diverse
range of sectors which helps the industry grow. The increasing impact of modern
retail also propels growth in the industry. Other factors that drive the market
of food traceability may include increasing number of product recalls, growing
concern and awareness among consumers regarding food safety and rigorous export
regulations. The growing demand for advanced technologies such as barcode, RFIS
technologies and biometrics in the Asia-Pacific region seems to generate
significant growth in the market.
The key
restraining factors of growth in the food traceability market are steep cost of
equipment required for traceability, privacy issues in sharing of data and
clear absence of strict laws in the developing nations.
Food
traceability has the power to increase the accuracy of inventory which in turn
allows the firm to meet consume demand more proficiently. Product tracing
system bear decisions that influence the reputation of the brand as it upgrades
food product tracing through refine decision making ability. Food traceability
diminishes time to retrieve crucial data in the event of a recall and minimizes
the scope of a recall. North America dominates the global market of food
traceability by generating maximum revenue. Europe also seems to be
contributing a large share in the global market of food traceability. Asia-Pacific
region is predicted to manifest expedited rate of growth over the forecast
period. India and China are currently exhibiting significant growth.
Segment Covered:
This market
intelligence report on the global Food Traceability market encompasses market
segments based on technology, end users, application, and country/regions.
By technology, the global Food Traceability
Market is segregated
into,
§ RFID technology
§ GPS
§ Barcode
§ Infrared
§ Biometric
By end users, the global Food Traceability
Market is segmented into,
§ Food manufacturers
§ Warehouse Food retailers
§ Government departments
§ Others (non-profit organization, animal welfare
organization, and cooperative organization)
By application, the global Food Traceability Market is also classified into,
§ Meat & Livestock products
§ Fresh food produce & Seeds
§ Dairy products
§ Seafood products
§ Beverages
§ Others (grains, oilseed, and coffee)
By country/region, the global Food
Traceability Market has been
divided into,
§ North America (the U.S., Canada),
§ Latin America (Brazil, Mexico, Argentina and other
countries),
§ Europe (Germany, France, the U.K., Spain, Italy, Russia,
and other countries),
§ Asia Pacific (India, Japan, China, Australia and New
Zealand and other countries),
§ Middle East and Africa (GCC, South Africa, Israel and
Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as
§ Eurofins
§ Bureau Veritas
§ Barcode Integrators Inc.
§ Carlisle Technology Inc.
§ Mass Group Inc.
§ Merit-Trax Technologies Inc..
§ Picarro Inc.
§ TUVSUD
§ NSF
§ Intertek
§ Honeywell International Inc.
§ C.H. Robinson Worldwide, Inc.
§ Bio-Rad Laboratories, Inc.
§ DuPont
§ Cognex Corporation
§ SGS S.A.
Other players have
been profiled into detail so as to offer a glimpse of the market leaders.
Moreover, parameters such as Food Traceability Market related investment &
spending and developments by major players of the market are tracked in this
global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Food Traceability Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020 – 2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, launch of new products, competitive market strategies of
leading market players, emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Food Traceability Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
Leading
market players covered this report comprise names such as Eurofins, Bureau
Veritas, Intertek, TUVSUD, NSF and many more.
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of products, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Food Traceability caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Food Traceability Market. The research also caters to the rising needs of consulting
and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the
investment opportunities in the Food Traceability Market
v
Identification
of key factors driving investment opportunities in the Food Traceability Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to your
competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants