Food Traceability Market – A watch-dog for the food supply chain from manufacturer till end use
The food traceability is a technique with which the origin of any food product and supply and distribution can be traced in the market production and supply chain.
Food safety guidelines state that food and beverages products should be supplied with food safety certificate and special code which helps to determine the origin and distribution of the product which can be used to recall the consignment in case of any contamination or adulteration in the Food Traceability Market during 2015-2020.
Earlier, the adoption of food tracking technologies in developed nations such as the U.S., Japan and Australia was noted successful. Further towards these days, globalization of the food market has inflated the importance of a traceability system even in developing nations.
Market Trends & Growth:
According to IndustryARC, Global Food Traceability Market is projected to grow at a CAGR 8.9% and set to reach $14,601.5 Million throughout forecast amount 2015-2020.
Growing foodborne diseases around the world, food adulteration incidents throughout countries, increasing concern for food safety among consumers across the globe and conjointly governments tributary in terms of legal framework and strict rules for adoption of food traceability systems are the Driving Factors of this market.
Regionally, it was accounted that the market was dominated by North America within the past few years, followed by Europe. On the other hand, APAC market is projected to grow at the highest CAGR attributable to the rapid development and growth in major developing countries like Asian country and China in varied applications like food turn out, meat produces and seafood product.
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To mention, the rising demand for technologies such as barcodes, RFIS technologies and biometrics in these regions is conjointly driving the general market share.
REPORT SCOPE: Market Segmentation:
Food Traceability Market is classified in 4 broad segments based on few factors like:
1. By Technology: Infrared Technology, Barcode, Biometric and Others.
2. By End User: Food Retailers, Warehouse, Government Departments, Food Manufacturers and Others.
3. By Applications: Fisheries, Dairy Food, Meat & Poultry, Beverages and Others.
4. By Geography: North America, Europe, APAC and ROW.
Few notable market players which are studied and mentioned in this report are:
• Honeywell International, Inc (U.S.)
• Cognex Corporation (U.S.)
• Alien Technology Corporation (U.S.)
• A2B Tracking Solution (U.S.)
• Zebra Technologies (U.S.)
• Unitech Electronics Co., LTD (Taiwan)
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