Global Food Traceability Market – Industry Trends and Forecast to 2029

Global Food Traceability Market, By Technology (Infrared, Biometrics, Global Positioning System (GPS), Radio-Frequency Identification (RFID), Barcodes, Near Field Communication (NFC)), Equipment (Thermal Printers, 2D and 1D Scanners, Sensors, Tags and Labels, PDA with GPS, Others), Software Type (Enterprise Resource Planning (ERP), Friction Welding, Laboratory Information Management Software (LIMS), Warehouse Software, Others), Application (Fresh Food Produce, Dairy Products, Beverage Products, Others),  End-User (Food Manufacturing,  Warehouse and Transport, Retailing, Government Departments, Others) – Industry Trends and Forecast to 2029.

Food Traceability Market Analysis and Size

The food traceability system keeps track of the flow of products intended for human consumption throughout the manufacturing process. As food production and distribution is a complex process, companies view food traceability systems as the best tool for addressing all food-related challenges. Food traceability enables businesses to provide fresh food products to their customers, thereby reducing food-borne diseases.

Data Bridge Market Research analyses that the food traceability market was valued at USD 17.3 billion in 2021 and is expected to reach the value of USD 37.90 billion by 2029, at a CAGR of 10.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Food Traceability Market size and segmentation

Market Definition

Traceability (tracking technologies) in food refers to the ability to identify and validate various stages of the food chain, from production to distribution. It entails identifying the origin of food as well as its destination, from which it is expected to be distributed to various end users. This system is critical in global food trade because multi-ingredient food includes materials from a variety of food chains and countries.

Food Traceability Market Dynamics

Drivers

• Growing cases of foodborne diseases and food adulteration globally

Foodborne illnesses are typically caused by pathogens and mycotoxins contaminating food. The presence of pathogens in food, such as Salmonella and Listeria, certainly jeopardises the microbiological safety and quality of food, leading to foodborne illnesses.

• Rising digitisation and technological advancement in the food tracing industry

Another prevalent trend in the food tracing industry is the digital supply chain, in which technologies such as predictive analytics, improved visibility over the movement of goods, and robotics assist warehouses and distribution centres in efficiently tracing food. Warehouse managers created a warehouse management system that uses radio frequency guns to prevent people from picking the wrong product.

The transportation management system, which was previously handled manually, would be digitised. Using the system's own parameters, standards, data points, and expectations, retailers can give their suppliers specific delivery time frames by utilising a cloud-based interconnected solution. This will not only streamline the scheduling process, but it will also provide us with a massive amount of tracking information and data that we did not previously have.

Opportunity

The key drivers of the global food traceability market growth are the legislative framework and certifications and standardizations. This is due to various governments in developed and developing countries being compelled to follow food safety standards and laws, which further supports market expansion. Other market drivers include competitive advantage and brand loyalty, tracing contamination and product recall, and the flow of information upstream and downstream of the supply chain.

Restraints

However, various privacy issues in data sharing, as well as a lack of basic supporting infrastructure in developing countries, are expected to impede the food traceability market growth rate, whereas a lack of standardisation and harmonisation related to food traceability systems may pose a market challenge for the food traceability market during the forecast period.

This food traceability market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the food traceability market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Food Traceability Market

Various end users of food tracing solutions around the world were severely impacted during the pandemic. The epidemic caused factory closures. On the other hand, various factories were operating at lower levels than usual and continued to face new restrictions as a result of concerns about the continuous rise in cases and the arrival of the third and fourth waves of the pandemic in various countries around the world. As manufacturing plants remained closed and consumers remained sheltered at home due to lockdowns, the pandemic had a significant impact on the manufacturing sector, resulting in a scarcity of production.

Recent development

• In December 2020, Honeywell (US) acquires Rebellion Photonics (US). Rebellion Photonics is a Houston-based provider of innovative, intelligent, visual gas monitoring solutions that maximise safety, operational performance, emissions mitigation, and compliance in the oil and gas, petrochemical, and power industries.
• In September 2020, Celsee, Inc. (US), a company that provides instruments and consumables for the isolation, detection, and analysis of single cells, was acquired by Bio-Rad Laboratories. Scientists can use the Genesis System to isolate, analyse, and interpret cellular behaviour as well as collect cell-based data.

Global Food Traceability Market Scope

The food traceability market is segmented on the basis of technology, equipment, software type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Infrared
• Biometrics
• Global Positioning System (GPS)
• Radio-Frequency Identification (RFID)
• Barcodes
• Near Field Communication (NFC)

Equipment

• Thermal Printers
• 2D and 1D Scanners
• Sensors
• Tags and Labels
• PDA with GPS
• Others

Software type

• Enterprise Resource Planning (ERP)
• Friction Welding
• Laboratory Information Management Software (LIMS)
• Warehouse Software
• Others

Application

• Fresh Food Produce
• Dairy Products
• Beverage Products
• Others

End users

• Food Manufacturing
• Warehouse and Transport
• Retailing
• Government Departments
• Others

Food Traceability Market Regional Analysis/Insights

The food traceability market is analysed and market size insights and trends are provided by country, technology, equipment, software type, application and end user as referenced above.

The countries covered in the food traceability market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is a dominant player in the global food traceability market, accounting for the highest revenue share when compared to markets in other regions. This can be attributed to the region's growing concern about food safety.

Asia-Pacific is expected to be the fastest growing market in the global food traceability market over the forecast period, owing to rising demand for biometrics, barcodes, and RFID technologies in the region's emerging economies.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Food Traceability Market Share Analysis

The food traceability market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Food Traceability market.

Some of the major players operating in the food traceability market are:

• C.H. Robinson Worldwide, Inc (US)
• Bio-Rad Laboratories, Inc. (US)
• OPTEL GROUP (Canada)
• Cognex Corporation (US)
• Honeywell International Inc. (US)
• SGS SA (Switzerland)
• Zebra Technologies Corp. (US)
• Bar Code Integrators, Inc (US)
• Carlisle Companies Inc (US)
• Merit-Trax Technologies (Canada)
• FoodLogiQ (US)
• Food Forensics Limited (UK)
• Bext360 (US)
• ANTARES VISION S.p.A. (US)
• Covectra (Italy)
• TE-FOOD International GmbH (Germany)
• Source Trace (US)
• Trace One (US)
• Crest InfoSolutions (Ireland)
• Damselfly Solutions Inc. (UK)