Global Food Traceability Market valued approximately USD 12.3 billion in 2017 is anticipated to grow with a healthy growth rate of more than 9.64% over the forecast period 2018-2025. The major driving factor of global food traceability market are enhancement in food traceability technologies, growing application in diverse sectors and increasing penetration of modern retail.
The major restraining factors of food traceability market are high cost of traceability equipment, privacy issues in data sharing and lack of stringent laws in developing nation. In food processing, the term traceability refers to the recording through means of barcode or RFID tags & other tracking media, all movement of product and steps within the production process.
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The regional analysis of Global Food Traceability Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America has dominate the market of total generating revenue across the globe. Europe is also contributing major share in the global market of Food Traceability. Asia-Pacific region is also anticipated to exhibit higher growth rate / CAGR over the over the coming years due to China and India are also witnessing significant growth.
The major market player included in this report are:
– Bio-Rad Laboratories Inc.
– C.H. Robinson Worldwide Inc.
– Cognex Corporation
– Honeywell International Inc.
– SGS SA
– Barcode Integrators Inc.
– Carlisle Technology Inc.
– Mass Group Inc.
– Merit-Trax Technologies Inc.
– Picarro Inc.
The detailed segments and sub-segment of the market are explained below:
– RFID/RTLS, GPS, Barcode, Infrared, Biometrics
– Food Manufacturers, Ware House/Pack Farms, Food Retailers
– Defense & Security Department, Other Government Departments
– Meat & Livestock, Fresh Produce & Seeds, Dairy, Beverages, Fisheries
– North America, Europe, Asia Pacific, Latin America
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.