Food Traceability Market Is Likely to Experience a Tremendous Growth in Near Future

Focus on more transparency across the food supply chain, use of predictive analysis, and better visibility of goods

VANCOUVER, BC, CANADA, August 1, 2022 /EINPresswire.com/ -- The market in North America is expected to account for a considerably robust revenue share over the forecast period due to large end-use bases such as food manufacturers and food retailers, and this coupled with stringent regulations implemented by the government are factors driving growth of the food traceability market in the region.

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.

Our Complimentary Sample Copy In PDF Format for Food Traceability market Report Accommodate a Brief Introduction of the research report, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology.

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Some prominent companies included 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

The report mainly studies the Food Traceability market size, recent trends and development status, investment opportunities, market dynamics(e.g. driving factors, limiting factors) and industry news(e.g. mergers, acquisitions and investments). Technological innovations and advancements will further optimize the performance of the product so that it is more widely used in downstream applications. In addition, Porter’s five force analyses (potential entrants, suppliers, substitutes, buyers, and industry

By Regions:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Thinking One Step Ahead

In today’s competitive world you need to think one step ahead to chase your competitors, our research offers reviews about key players, major collaborations, merger & acquisitions along with trending innovation and business policies to present better insights to drive the business into right direction

Rapid Business Growth Factors

In addition, the market is growing at a fast pace and the report shows us that there are a couple of key factors behind that. The most important factor that’s helping the market grow faster than usual is the tough competition.

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Highlights of the Food Traceability Market Report:

This research report focuses on the Food Traceability Market overview, market share, demand and supply ratio, and import/export details, supply chain analysis, and others.

The report includes different approaches and procedures used by established market players for efficient business decisions.

The report offers detailed information regarding the production value, strategies adopted by the key market players, their products/services offerings, and many more.

Key Coverage of report:

Market share valuations of the segments on a country and global level.

Market share analysis of the major market players.

Opportunities and growth prospects for the new market entrants.

Market forecast for all the segments, sub-segments of the market.

Market Trends (drivers, restraints, opportunities, challenges, threats, investment opportunities, and approvals)

Strategic endorsements in the key business segments on the basis of market valuations.

Competitive landscape mapping of the key development patterns.

Company profiling with detailed strategies, financial details, and recent developments.

Latest supply chain trends and technological advancements.

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