Market Size

The global food traceability market size was valued at USD 16.6 billion in 2020 and is estimated to reach a value of USD xx billion in 2027. The food traceability market analysis shows that it will grow with a CAGR of 8.9% over the forecast period of 2021 to 2027.

Market Driver

Foodborne illnesses are typically caused by pathogens and mycotoxins contaminating food. The presence of pathogens such as Salmonella and Listeria in food undoubtedly compromises the food's microbiological safety and quality, resulting in foodborne illness. According to the CDC, the United States records 76 million cases of foodborne illness each year, resulting in 325,000 hospitalizations and 5000 deaths. Although the WHO's Americas region has the second-lowest burden of foodborne diseases. Each year, the WHO estimates that unsafe food consumption results in nearly 600 million cases of foodborne disease worldwide. As a result of such incidents, food safety has become a major concern due to the potential for serious health consequences. This is expected to increase demand for food traceability, positively impacting market growth. Commercial food services have grown exponentially in popularity over the last three decades, necessitating extensive food handling. This has resulted in an increase in the number of people handling food and a variety of other changes, such as new methods of producing and distributing food, which has increased the possibility of foodborne infections being transmitted from handlers to consumers, thereby increasing the demand for food traceability systems.

Regional Outlook

In comparison to North America and Europe, emerging economies have a low adoption rate of food traceability systems. Nonetheless, consumers in these developing nations are more concerned with food safety. This has resulted in a surge in consumer demand for food traceability (tracking technologies) in developing countries, as well as expansion opportunities for food traceability companies. Costs associated with food traceability and the varying requirements for different food products are significant factors limiting the market's growth, as they are expected to increase the price of related products, prompting manufacturers to forego food traceability to some extent.

Market Opportunity

Government-enforced regulations in developed regions, such as Europe, are expected to emphasize the critical nature of food safety at all stages of the supply chain. For example, the EFSA (European Food Safety Agency) is increasing awareness of food safety in Europe, and amendments to the General Food Law Regulation are being made to improve risk assessment throughout the food supply chain. This will create opportunities for the adoption of traceability systems for the purpose of assessing and mitigating food contamination risks. According to the WHO's food safety director, in Eastern Europe and Central Asia, where food is regulated by more than five ministries, a high level of communication between parties is necessary to ensure food safety from production to inspection. These trends will increase demand for food traceability technologies and software that can be used to track food product contamination.

Research Methodology

Food Traceability market report consists of market analysis including both primary and secondary research. Primary research comprises of the interaction between manufacturers, industry experts channel partners, and end users, while the secondary research presents an analytical interpretation of relevant published databases, which contains details like company annual reports, and financial reports, white papers, and purchased databases. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.

About Us

Market Insight Solutions is a leading market research firm which caters to a diverse portfolio of research campaigns. We are one of the fastest growing research organization led by an extensive team of individuals. Our team has individuals with more than 10 years of experience in diverse research domains. Our strategic insights aim at providing credible and practical solutions to meet the specific requirements of our clients. We offer market studies on basis of facts across cross domains.

Segments covered in the report

Food Traceability Market Size and Outlook by Technology

• Radio-frequency identification
• Barcodes
• Infrared
• Biometrics
• Global positioning system

Food Traceability Market Size and Outlook by Software

• Enterprise Resource Planning
• Friction welding
• Laboratory Information Management Software
• Warehouse software
• Others (poultry farm software, quality management software, and hybrid software)

Food Traceability Market Size and Outlook by Application

• Fresh food products
• Meat, poultry & seafood products
• Dairy products
• Beverage products
• Others (grains, oilseeds, nuts, and coffee)

Food Traceability Market Size and Outlook by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

Companies Profiled in this Report

• Bar Code Integrators
• Bio-Rad Laboratories, Inc.
• C.H. Robinson
•  Carlisle
• Cognex
• Honeywell International Inc.
•  Merit-Trax
• OPTEL GROUP
• SGS SA
• Zebra Technologies

Actionable Outcomes

Our study offers a thorough assessment of estimations and projections on the market dynamics. Further, it helps in the implementation of these results as they show tangible benefits to business stakeholders and industry entities decisions as leaders.

Strategic Planning

Every business needs to understand how their product will function in the forthcoming years. With the current uncertainness due to the COVID -19 scenario, this analysis becomes significant to understand past disruptions and boost the preparedness for the next steps of decision. We at Market Insight Solutions are trying to break down the complex market for the business leaders through strategic insights and resilience in unpredictable situations.

Highlights of the report:

• COVID-19 impact on Food Traceability market size
• Food Traceability market size, drifts, drivers and opportunities
• Analyzing the regional market for the growth factors, estimated analysis and its penetration to the global market
• Food Traceability market size in United States
• Understanding the dynamics of the parent market
• Prime fluctuations of the market dynamics
• Evaluation of the market opportunities
• Historical, current, and projected Food Traceability market size from the standpoint of both value and volume
• Market segmentation and comprehensive analysis in the second or third level
• Reporting and evaluation of recent industry developments
• Analysis of market share and developments
• Detailed company profiling of leading companies
• Opportunities to newer markets in global and regional markets
• Analyzing the trajectory line of the business
• Analyze Food Traceability market share
• Measures to consider for Food Traceability market