The global food traceability market size reached US$ 18.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
Food traceability helps track the movement of a food product and its ingredients through all steps in the supply chain, forward and backward. It involves documenting and linking the production, processing, and distribution of different food products and ingredients. It helps governing authorities in product tracing during the outbreak of a foodborne illness to find the source of the product rapidly and where the contamination may have occurred. This enables faster removal of the affected product from the marketplace, thereby reducing incidences of foodborne illnesses.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Food Traceability Market Trends:
With the growing global supply chain, food safety is becoming a significant concern for consumers and regulators. This, coupled with the increasing number of deaths on account of food contamination, represents one of the key factors bolstering the growth of the market. Moreover, food traceability is a part of an overall cost-effective quality management system that can also aid in the continuous minimization of the impact of safety hazards. It also facilitates the rapid recall of products and the determination and settlement of liabilities. Besides this, food traceability aids in building trust and increasing certainty in food processing operations. This, along with the rising requirement for transparent information about the entire food chain, supported by modern tracking and tracing methods, is fueling the growth of the market. Furthermore, there is a rise in the adoption of blockchain technologies in food traceability, which enhances the ability to validate and authenticate food origin and improves brand credibility. Additionally, they help prevent fraud, enhance the capacity to better tackle outbreaks, minimize food testing expenses, and increase margins. This is projected to drive the market in the upcoming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global food traceabilitymarket, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, equipment, application and end user.
Breakup by Technology:
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RFID/RTLS
Global Positioning System (GPS)
Barcode
Infrared
Biometrics
Breakup by Equipment:
PDA with GPS
Thermal Printers
2D and 1D Scanners
Tags and Labels
Sensors
Others
Breakup by Application:
Meat and Livestock
Fresh Produce and Seeds
Dairy Products
Beverage Products
Fisheries
Others
Breakup by End User:
Food Manufacturers
Warehouse/Pack Farms
Food Retailers
Government Departments
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bar Code Integrators Inc., C.H. Robinson Worldwide Inc., Carlisle Technology, Cognex Corporation, FoodLogiQ, Honeywell International Inc., Impinj Inc., International Business Machines Corporation, MASS Group, OPTEL Group, SGS S.A. and Zebra Technologies Corporation.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Technology, Equipment, Application, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Bar Code Integrators Inc., C.H. Robinson Worldwide Inc., Carlisle Technology, Cognex Corporation, FoodLogiQ, Honeywell International Inc., Impinj Inc., International Business Machines Corporation, MASS Group, OPTEL Group, SGS S.A. and Zebra Technologies Corporation.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global food traceability market was valued at US$ 18.3 Billion in 2022.
We expect the global food traceability market to exhibit a CAGR of 9.2% during 2023-2028.
The rising adoption of blockchain technologies in food traceability that enhances the ability to validate and authenticate food origin and improves brand credibility is primarily driving the global food traceability market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of food traceability to find products in which contamination may have occurred in order to combat the risk of the coronavirus infection.
Based on the technology, the global food traceability market has been divided into RFID/RTLS, Global Positioning System (GPS), barcode, infrared, and biometrics. Among these, barcode currently exhibits a clear dominance in the market.
Based on the equipment, the global food traceability market can be categorized into PDA with GPS, thermal printers, 2D and 1D scanners, tags and labels, sensors, and others. Currently, 2D and 1D scanners hold the majority of the total market share.
Based on the application, the global food traceability market has been segmented into meat and livestock, fresh produce and seeds, dairy products, beverage products, fisheries, and others, where meat and livestock currently exhibits a clear dominance in the market.
Based on the end user, the global food traceability market can be bifurcated into food manufacturers, warehouse/pack farms, food retailers, government departments, and others. Currently, food manufacturers account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global food traceability market include Bar Code Integrators Inc., C.H. Robinson Worldwide Inc., Carlisle Technology, Cognex Corporation, FoodLogiQ, Honeywell International Inc., Impinj Inc., International Business Machines Corporation, MASS Group, OPTEL Group, SGS S.A., and Zebra Technologies Corporation.
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