Food Traceability Market Research Insight 2022| Industry Development – Growth Opportunities in Future, Revenue Forecast Up to 2030

InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled “Global Food Traceability Market by Products (RFID, Barcodes, Infrared, Biometrics, and other Products), Applications (Dairy Products, Meat, Poultry, and Seafood, Beverages, Fresh Produce, and others (grains, seeds, nuts)), End-users (Food Manufacturers, Food Retailers, Government Department Meat, Poultry, and Seafood, Warehouses, and others (Defence and Security Departments, Farmers, Non-Profit Organizations, and Cooperative Organization)))  – Market Outlook and Industry Analysis 2030”

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Increasing consumer knowledge and regulatory concerns about food quality, hygiene, and authenticity have sparked a demand for food safety measures. Traceability is one of the methods used to ensure food safety and quality across the supply chain. Both the industry and the regulatory organizations accept the traceability of food supply chains to ensure food safety. For food companies, a well-developed traceability system provides complete transparency regarding the product at every stage of the distribution chain.

Due to companies’ efforts to improve their capacity to feed the world’s expanding population, the global food supply chain has become increasingly complex. A primary goal of the Global Food Traceability Center is to help companies better understand and implement methods for tracking and tracing products throughout the food chain, thereby enhancing food safety and security while also preventing or mitigating detrimental effects on public health and the economy. The FDA’s Blueprint for a New Era of Smarter Food Safety was released in 2020. New business models, food contamination, and a more robust food safety culture are all addressed in the FDA’s roadmap to improve traceability, improve predictive analytics, and respond more quickly to outbreaks.

Market Dynamics:

Food traceability is becoming more popular in the retail food industry.The market is primarily driven by increased consumer concerns about food safety, an increase in legislative attempts to improve food safety, and an increase in foodborne diseases and food adulteration occurrences. By identifying risks prior to damaged items reaching end consumer markets, traceability helps to decrease contamination, infection and spoiling in the food supply. The market is also likely to be driven by the growing acceptance of food traceability in the food supply chain due to the benefits associated with improved supply chain management, increased access to financing, and overall operational efficiencies.

To enhance the overall transportation process, companies are progressively enlisting and utilising the help of the information technology (IT) sector, specifically the Internet of Things (IoT) and blockchain technologies. IoT enables the tracking of technological difficulties and malfunctions across the supply chain, including the physical route of food items. Implementation of IoT and blockchain to enhance food traceability and the introduction of innovative food traceability technologies are also likely to expand opportunities over the projection period.

Geographically, The Asia Pacific region has seen an increase in product demand in recent years as a result of increased consumer awareness about food safety and government legislation promoting food traceability.

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The following key companies are engaged in the Food Traceability market:

Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IdentiGEN, IBM Corporation, Intertek Group, Cognex Corporation, MASS Group, Zebra Technologies, SGS SA, HarvestMark, Optel Group, Thermo Fisher Scientific, Merit-Trax Technologies, Infor, FoodLogiQ, and other Prominent Players

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