Food Traceability Trends and Forecast
The future of the global food traceability market looks promising with opportunities in the fruit & vegetable, fruit pulp & concentrate, dairy product, fish, meat, and seafood, processed food, and bakery & confectionary markets. The global food traceability market is expected to reach an estimated $30.9 billion by 2030 with a CAGR of 8.3% from 2024 to 2030. The major drivers for this market are rising demand for transparency in food sourcing, growing technical innovation and digitization in the food tracking sector, as well as, increasing rates of food adulteration and foodborne illnesses worldwide.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Food Traceability by Segment
The study includes a forecast for the global food traceability by software, technology, end use, and region.
Food Traceability Market by Software [Shipment Analysis by Value from 2018 to 2030]:
• Enterprise Resources Planning (ERP)
• Friction Welding
• Laboratory Information Systems
• Warehouse Software
• Supply Chain Management (SCM)
• Others
Food Traceability Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
• Radio Frequency Identification
• Barcodes
• Infrared
• Biometrics
• Global Positioning Systems
• Others
Food Traceability Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Fruits & Vegetables
• Fruit Pulp & Concentrates
• Dairy Products
• Fish, Meat, and Seafood
• Processed Food
• Bakery & Confectionary
• Others
Food Traceability Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Food Traceability Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies food traceability companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the food traceability companies profiled in this report include-
• C.H. Robinson
• Cognex
• Honeywell International
• Zebra Technologies
• Carlisle
• Merit-Trax
• FoodLogiQ
• Safe Traces
• Food Forensics
• Bext360
Food Traceability Market Insights
Lucintel forecasts that supply chain management (SCM) will remain the largest segment over the forecast period because the system acts as a central nervous system for the supply chain, offering a clear picture of everything happening, connecting seamlessly with tracking tools, ensuring adherence to regulations, and streamlining various aspects of your operations.
Within this market, fish, meat, and seafood will remain the largest segment due to a combination of regulatory pressures, consumer demands, complex supply chains and the need to meet the specific challenges of safety, quality and integrity in these perishable food industries.
North America will remain the largest region over the forecast period due to dynamic approach to the adoption and promotion of traceable solutions, as well as, regionÄX%$%Xs growing apprehension over food security.
Features of the Global Food Traceability Market
Market Size Estimates: Food traceability market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Food traceability market size by software, technology, end use, and region in terms of value ($B).
Regional Analysis: Food traceability market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different software, technology, end use, and regions for the food traceability market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the food traceability market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the food traceability market size?
Answer: The global food traceability market is expected to reach an estimated $30.9 billion by 2030.
Q2. What is the growth forecast for food traceability market?
Answer: The global food traceability market is expected to grow with a CAGR of 8.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the food traceability market?
Answer: The major drivers for this market are rising demand for transparency in food sourcing, growing technical innovation and digitization in the food tracking sector, as well as, increasing rates of food adulteration and foodborne illnesses worldwide.
Q4. What are the major segments for food traceability market?
Answer: The future of the global food traceability market looks promising with opportunities in the fruit & vegetable, fruit pulp & concentrate, dairy product, fish, meat, and seafood, processed food, and bakery & confectionary markets.
Q5. Who are the key food traceability market companies?
Answer: Some of the key food traceability companies are as follows:
• C.H. Robinson
• Cognex
• Honeywell International
• Zebra Technologies
• Carlisle
• Merit-Trax
• FoodLogiQ
• Safe Traces
• Food Forensics
• Bext360
Q6. Which food traceability market segment will be the largest in future?
Answer: Lucintel forecasts that supply chain management (SCM) will remain the largest segment over the forecast period because the system acts as a central nervous system for the supply chain, offering a clear picture of everything happening, connecting seamlessly with tracking tools, ensuring adherence to regulations, and streamlining various aspects of your operations.
Q7. In food traceability market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to dynamic approach to the adoption and promotion of traceable solutions, as well as, regionÄX%$%Xs growing apprehension over food security.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the food traceability market by software (enterprise resources planning (ERP), friction welding, laboratory information systems, warehouse software, supply chain management (SCM), and others), technology (radio frequency identification, barcodes, infrared, biometrics, global positioning systems, and others), end use (fruits & vegetables, fruit pulp & concentrates, dairy products, fish, meat, and seafood, processed food, bakery & confectionary, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Food Traceability Market, Food Traceability Market Size, Food Traceability Market Growth, Food Traceability Market Analysis, Food Traceability Market Report, Food Traceability Market Share, Food Traceability Market Trends, Food Traceability Market Forecast, Food Traceability Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.