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Table of Contents
1.1 Industry Outlook
1.1.1 Industry Attractiveness
1.1.1.1 Threat of New Entrants (Medium)
1.1.1.2 Bargaining Power of Buyers (Medium)
1.1.1.3 Bargaining Power of Suppliers (Medium to Low)
1.1.1.4 Threat of Substitutes (Medium to High)
1.1.1.5 Intensity of Competitive Rivalry (Medium to High)
1.2 Food Traceability Market- Patent Analysis
1.2.1 Patent Analysis by Status
1.2.2 Patent Analysis by Company
1.3 Business Dynamics
1.3.1 Business Drivers
1.3.1.1 Rising Concerns Toward Food Safety Among Consumers
1.3.1.2 Increase in Food Product Recalls and Contamination Cases
1.3.1.3 Initiatives by Regulatory Bodies to Improve Food Safety Across Countries
1.3.2 Business Challenges
1.3.2.1 Lack of basic infrastructure in developing countries
1.3.2.2 Difficulty in data collection and accuracy of information
1.3.2.3 Cost requirements for traceability systems
1.3.3 Business Strategies
1.3.3.1 Product Development and Innovation
1.3.3.2 Market Developments
1.3.4 Corporate Strategies
1.3.4.1 Mergers and Acquisitions
1.3.4.2 Partnerships, Collaborations, and Joint Ventures
1.3.4.3 Others
1.3.5 Business Opportunities
1.3.5.1 Technological advancements in food traceability industry
1.3.5.2 Growth Opportunities in Emerging Markets
1.3.6 Impact of COVID-19 on Food Traceability Market
2.1 Application and Specification
2.1.1 Dairy Products
2.1.2 Meat, Poultry, and Seafood
2.1.3 Beverages
2.1.4 Fresh Produce
2.1.5 Others (grains, seeds, nuts)
2.2 Demand Analysis of Food Traceability (by Application)
2.2.1 Dairy Products
2.2.2 Meat, Poultry, and Seafood
2.2.3 Beverages
2.2.4 Fresh Produce
2.2.5 Others (grains, seeds, nuts)
2.3 End User and Specification
2.3.1 Food Manufacturers
2.3.2 Food Retailers
2.3.3 Government Department
2.3.4 Warehouses
2.3.5 Others (Defence and Security Departments, Farmers, Non-Profit Organizations, and Cooperative Organization)
2.4 Demand Analysis of Food Traceability (by End User)
2.4.1 Food Manufacturers
2.4.2 Food Retailers
2.4.3 Government Department
2.4.4 Warehouses
2.4.5 Others (Defence and Security Departments, Farmers, Non-Profit Organizations, and Cooperative Organization)
3.1 Product and Specification
3.1.1 RFID
3.1.2 Barcodes
3.1.3 Infrared
3.1.4 Biometrics
3.1.5 Others
3.2 Demand Analysis of Food Traceability (by Product)
3.2.1 RFID
3.2.2 Barcodes
3.2.3 Infrared
3.2.4 Biometrics
3.2.5 Others
4.1 North America
4.1.1 Market
4.1.1.1 Key Manufacturers and Suppliers in North America
4.1.1.2 Business Drivers
4.1.1.3 Business Challenges
4.1.2 Application
4.1.2.1 North America Food Traceability Market (by Application)
4.1.3 North America (by Country)
4.1.3.1 U.S.
4.1.3.1.1 Market
4.1.3.1.1.1 Buyer Attributes
4.1.3.1.1.2 Key Manufacturers in the U.S.
4.1.3.1.1.3 Business Challenges
4.1.3.1.1.4 Business Drivers
4.1.3.1.2 Application
4.1.3.1.2.1 U.S. Food Traceability Market (by Application)
4.1.3.2 Canada
4.1.3.2.1 Market
4.1.3.2.1.1 Buyer Attributes
4.1.3.2.1.2 Key Manufacturers in Canada
4.1.3.2.1.3 Business Challenges
4.1.3.2.1.4 Business Drivers
4.1.3.2.2 Application
4.1.3.2.2.1 Canada Food Traceability Market (by Application)
4.1.3.3 Mexico
4.1.3.3.1 Market
4.1.3.3.1.1 Buyer Attributes
4.1.3.3.1.2 Key Manufacturers in Mexico
4.1.3.3.1.3 Business Challenges
4.1.3.3.1.4 Business Drivers
4.1.3.3.2 Application
4.1.3.3.2.1 Mexico Food Traceability Market (by Application)
4.2 South America
4.2.1 Market
4.2.1.1 Key Manufacturers and Suppliers in South America
4.2.1.2 Business Drivers
4.2.1.3 Business Challenges
4.2.2 Application
4.2.2.1 South America Food Traceability Market (by Application)
4.2.3 South America (by Country)
4.2.3.1 Brazil
4.2.3.1.1 Market
4.2.3.1.1.1 Buyer Attributes
4.2.3.1.1.2 Key Manufacturers in Brazil
4.2.3.1.1.3 Business Challenges
4.2.3.1.1.4 Business Drivers
4.2.3.1.2 Application
4.2.3.1.2.1 Brazil Food Traceability Market (by Application)
4.2.3.2 Argentina
4.2.3.2.1 Market
4.2.3.2.1.1 Buyer Attributes
4.2.3.2.1.2 Key Manufacturers in Argentina
4.2.3.2.1.3 Business Challenges
4.2.3.2.1.4 Business Drivers
4.2.3.2.2 Application
4.2.3.2.2.1 Argentina Food Traceability Market (by Application)
4.3 Europe
4.3.1 Market
4.3.1.1 Key Manufacturers and Suppliers in Europe
4.3.1.2 Business Drivers
4.3.1.3 Business Challenges
4.3.2 Application
4.3.2.1 Europe Food Traceability Market (by Application)
4.3.3 Europe (by Country)
4.3.3.1 Germany
4.3.3.1.1 Market
4.3.3.1.1.1 Key Manufacturers in Germany
4.3.3.1.1.2 Business Challenges
4.3.3.1.1.3 Business Drivers
4.3.3.1.2 Application
4.3.3.1.2.1 Germany Food Traceability Market (by Application)
4.3.3.2 France
4.3.3.2.1 Market
4.3.3.2.1.1 Buyer Attributes
4.3.3.2.1.2 Key Manufacturers in France
4.3.3.2.1.3 Business Challenges
4.3.3.2.1.4 Business Drivers
4.3.3.2.2 Application
4.3.3.2.2.1 France Food Traceability Market (by Application)
4.3.3.3 Italy
4.3.3.3.1 Market
4.3.3.3.1.1 Buyer Attributes
4.3.3.3.1.2 Key Manufacturers in Italy
4.3.3.3.1.3 Business Challenges
4.3.3.3.1.4 Business Drivers
4.3.3.3.2 Application
4.3.3.3.2.1 Italy Food Traceability Market (by Application)
4.3.3.4 Rest-of-Europe
4.3.3.4.1.1 Rest-of-Europe Food Traceability Market (by Application)
4.4 U.K.
4.4.1 Market
4.4.1.1 Buyer Attributes
4.4.1.2 Key Manufacturers in U.K.
4.4.1.3 Business Challenges
4.4.1.4 Business Drivers
4.4.2 Application
4.4.2.1 U.K. Food Traceability Market (by Application)
4.5 Middle East and Africa
4.5.1 Market
4.5.1.1 Key Manufacturers and Suppliers in Middle East and Africa
4.5.1.2 Business Drivers
4.5.1.3 Business Challenges
4.5.2 Application
4.5.2.1 Middle East and Africa Food Traceability Market (by Application)
4.5.3 Middle East and Africa (by Country)
4.5.3.1 South Africa
4.5.3.1.1 Market
4.5.3.2 Key Manufacturers in South Africa
4.5.3.3 Business Challenges
4.5.3.4 Business Drivers
4.5.3.4.1 Application
4.5.3.4.1.1 South Africa Food Traceability Market (by Application)
4.5.3.5 Saudi Arabia
4.5.3.5.1 Application
4.5.3.5.1.1 Saudi Arabia Food Traceability Market (by Application)
4.5.3.6 Israel
4.5.3.6.1 Application
4.5.3.6.1.1 Israel Food Traceability Market (by Application)
4.5.3.7 Rest-of-Middle East and Africa
4.5.3.7.1 Application
4.5.3.7.1.1 Rest-of-Middle East and Africa Food Traceability Market (by Application)
4.6 China
4.6.1 Market
4.6.1.1 Buyer Attributes
4.6.1.2 Key Manufacturers in China
4.6.1.3 Business Challenges
4.6.1.4 Business Drivers
4.6.2 Application
4.6.2.1 China Food Traceability Market (by Application)
4.7 Asia-Pacific and Japan
4.7.1 Market
4.7.1.1 Key Manufacturers and Suppliers in Asia-Pacific and Japan
4.7.1.2 Business Drivers
4.7.1.3 Business Challenges
4.7.2 Application
4.7.2.1 Asia-Pacific and Japan Food Traceability Market (by Application)
4.7.3 Asia-Pacific and Japan (by Country)
4.7.3.1 Japan
4.7.3.1.1 Market
4.7.3.1.1.1 Key Manufacturers in Japan
4.7.3.1.1.2 Business Challenges
4.7.3.1.1.3 Business Drivers
4.7.3.1.2 Application
4.7.3.1.2.1 Japan Food Traceability Market (by Application)
4.7.3.2 India
4.7.3.2.1 Market
4.7.3.2.1.1 Buyer Attributes
4.7.3.2.1.2 Key Manufacturers in India
4.7.3.2.1.3 Business Challenges
4.7.3.2.1.4 Business Drivers
4.7.3.2.2 Application
4.7.3.2.2.1 India Food Traceability Market (by Application)
4.7.3.3 Australia and New Zealand (ANZ)
4.7.3.3.1 Market
4.7.3.3.1.1 Buyer Attributes
4.7.3.3.1.2 Key Manufacturers in ANZ
4.7.3.3.1.3 Business Challenges
4.7.3.3.1.4 Business Drivers
4.7.3.3.2 Application
4.7.3.3.2.1 ANZ Food Traceability Market (by Application)
4.7.3.4 Rest-of-Asia-Pacific (APAC)
4.7.3.4.1 Application
4.7.3.4.1.1 Rest-of- APAC Food Traceability Market (by Application)
5.1 Honeywell International Inc
5.1.1 Company Overview
5.1.1.1 Role of Honeywell International Inc in Global Food Traceability Market
5.1.1.2 Product Portfolio
5.1.1.3 Production Sites
5.1.2 Corporate Strategies
5.1.2.1 Partnership and Collaboration
5.1.2.2 Merger and Acquisition
5.1.3 Strength and Weakness of Honeywell International Inc
5.1.4 R&D Analysis
5.2 C.H. Robinson Inc
5.2.1 Company Overview
5.2.1.1 Role of C.H. Robinson Inc in Global Food Traceability Market
5.2.1.2 Product Portfolio
5.2.2 Corporate Strategies
5.2.2.1 Merger and Acquisition
5.2.3 Strength and Weakness of C.H. Robinson Inc
5.3 DuPont Nutrition and Biosciences
5.3.1 Company Overview
5.3.1.1 Role of DuPont Nutrition and Biosciences in Global Food Traceability Market
5.3.1.2 Product Portfolio
5.3.2 Corporate Strategies
5.3.2.1 Partnership and Collaboration
5.3.2.2 Merger and Acquisition
5.3.3 Strength and Weakness of DuPont Nutrition and Biosciences
5.4 Bio-Rad Laboratories
5.4.1 Company Overview
5.4.1.1 Role of Bio-Rad Laboratories in global Food Traceability Market
5.4.1.2 Product Portfolio
5.4.1.3 Production sites
5.4.2 Corporate Strategies
5.4.3 Strength and Weakness of Bio-Rad Laboratories
5.4.4 R&D Analysis
5.5 IBM Corporation
5.5.1 Company Overview
5.5.1.1 Role of IBM Corporation in Global Food Traceability Market
5.5.1.2 Product Portfolio
5.5.2 Corporate Strategies
5.5.2.1 Partnership
5.5.3 Strength and Weakness of IBM Corporation
5.5.4 R&D Analysis
5.6 Intertek Group
5.6.1 Company Overview
5.6.1.1 Role of Intertek Group in Global Food Traceability Market
5.6.1.2 Product Portfolio
5.6.2 Corporate Strategies
5.6.2.1 Merger and Acquisition
5.6.3 Strength and Weakness of Intertek Group
5.6.4 R&D Analysis
5.7 Cognex Corporation
5.7.1 Company Overview
5.7.1.1 Role of Cognex Corporation in Global Food Traceability Market
5.7.1.2 Product Portfolio
5.7.2 Business Strategies
5.7.2.1 Product Development
5.7.3 Corporate Strategies
5.7.3.1 Merger and Acquisition
5.7.4 Strength and Weakness of Cognex Corporation
5.7.5 R&D Analysis
5.8 MASS Group
5.8.1 Company Overview
5.8.1.1 Role of MASS Group in Global Food Traceability Market
5.8.1.2 Product Portfolio
5.8.2 Strength and Weakness of MASS Group
5.9 Zebra Technologies
5.9.1 Company Overview
5.9.1.1 Role of Zebra Technologies in Global Food Traceability Market
5.9.1.2 Product Portfolio
5.9.2 Business Strategies
5.9.2.1 Product Development
5.9.3 Corporate Strategies
5.9.3.1 Mergers and Acquisitions
5.9.4 Strengths and Weaknesses of Zebra Technologies
5.9.5 R&D Analysis
5.10 SGS SA
5.10.1 Company Overview
5.10.1.1 Role of SGS SA in Global Food Traceability Market
5.10.1.2 Product Portfolio
5.10.2 Corporate Strategies
5.10.2.1 Merger and Acquisition
5.10.3 Strength and Weakness of SGS SA
5.11 HarvestMark
5.11.1 Company Overview
5.11.1.1 Role of HarvestMark in Global Food Traceability Market
5.11.1.2 Product Portfolio
5.11.2 Strength and Weakness of HarvestMark
5.12 Optel Group
5.12.1 Company Overview
5.12.1.1 Role of Optel Group in Global Food Traceability Market
5.12.1.2 Product Portfolio
5.12.2 Corporate Strategies
5.12.2.1 Merger and Acquisition
5.12.3 Strength and Weakness of Optel Group
5.13 Thermo Fisher Scientific
5.13.1 Company Overview
5.13.1.1 Role of Thermo Fisher Scientific in Global Food Traceability Market
5.13.1.2 Product Portfolio
5.13.2 Corporate Strategies
5.13.2.1 Partnership and Collaboration
5.13.3 Strength and Weakness of Thermo Fisher Scientific
5.13.4 R&D Analysis
5.14 Merit-Trax Technologies
5.14.1 Company Overview
5.14.1.1 Role of Merit-Trax Technologies in Global Food Traceability Market
5.14.1.2 Product Portfolio
5.14.2 Strength and Weakness of Merit-Trax Technologies
5.15 Infor
5.15.1 Company Overview
5.15.1.1 Role of Infor in Global Food Traceability Market
5.15.1.2 Product Portfolio
5.15.2 Corporate Strategies
5.15.2.1 Partnership and Collaboration
5.15.3 Strength and Weakness of Infor
5.15.4 R&D Analysis
5.16 FoodLogiQ
5.16.1 Company Overview
5.16.1.1 Role of FoodLogiQ in Global Food Traceability Market
5.16.1.2 Product Portfolio
5.16.2 Business Strategies
5.16.2.1 Market Development
5.16.3 Corporate Strategies
5.16.3.1 Partnerships and Joint Ventures
5.16.4 Strength and Weakness of FoodLogiQ
5.17 Other Key Players in the Food Traceability Market
Research Methodology
Table 1: Key Factors Determining Threat from New Entrants in Food Traceability Market
Table 2: Key Factors Determining Bargaining Power of Buyers in Food Traceability Market
Table 3: Key Factors Determining Bargaining Power of Suppliers in Food Traceability Market
Table 4: Key Factors Determining Intensity of Competitive Rivalry in Food Traceability Market
Table 5: Food Traceability Standards and Regulations
Table 6: Key Developments in Food Traceability Market for Dairy Industry
Table 7: Key Developments in Food Traceability Market for Meat Industry
Table 8: Key Developments in Food Traceability Market for Beverage Industry
Table 9: Key Developments in Food Traceability Market for Fresh Produce Industry
Table 10: Global Food Traceability Market (by Application), $Billion, 2019-2025
Table 11: Global Food Traceability Market (by End User), $Billion, 2019-2025
Table 12: Global Food Traceability Market (by Product), $Billion, 2019-2025
Table 13: Global Food Traceability Market (by Region), $Million, 2019-2025
Table 14: North America Food Traceability (by Application), $Billion, 2019-2025
Table 15: U.S. Food Traceability Market (by Application), $Billion, 2019-2025
Table 16: Canada Food Traceability Market (by Application), $Billion, 2019-2025
Table 17: Mexico Food Traceability Market (by Application), $Billion, 2019-2025
Table 18: South America Food Traceability Market (by Application), $Billion, 2019-2025
Table 19: Brazil Food Traceability Market (by Application), $Billion, 2019-2025
Table 20: Argentina Food Traceability Market (by Application), $Billion, 2019-2025
Table 21: Europe Food Traceability Market (by Application), $Billion, 2019-2025
Table 22: France Food Traceability Market (by Application), $Billion, 2019-2025
Table 23: Italy Food Traceability Market (by Application), $Million, 2019-2025
Table 24: Rest-of-Europe Food Traceability Market (by Application), $Million, 2019-2025
Table 25: U.K. Food Traceability Market (by Application), $Billion, 2019-2025
Table 26: Middle East and Africa Food Traceability Market (by Application), $Billion, 2019-2025
Table 27: South Africa Food Traceability Market (by Application), $Million, 2019-2025
Table 28: Saudi Arabia Food Traceability Market (by Application), $Million, 2019-2025
Table 29: Israel Food Traceability Market (by Application), $Million, 2019-2025
Table 30: Rest-of-Middle East and Africa Food Traceability Market (by Application), $Million, 2019-2025
Table 31: China Food Traceability Market (by Application), $Billion, 2019-2025
Table 32: Asia-Pacific and Japan Food Traceability Market (by Application), $Billion, 2019-2025
Table 33: Japan Food Traceability Market (by Application), $Billion, 2019-2025
Table 34: India Food Traceability Market (by Application), $Billion, 2019-2025
Table 35: ANZ Food Traceability Market (by Application), $Billion, 2019-2025
Table 36: Rest-of-APAC Food Traceability Market (by Application), $Billion, 2019-2025
Figure 1: Global Food Traceability Market, $Billion, 2019-2025
Figure 2: Market Dynamics for Food Traceability Market
Figure 3: Global Food Traceability Market (by Product), $Billion, 2019 and 2025
Figure 4: Global Food Traceability Market (by Application), $Billion, 2019 and 2025
Figure 5: Global Food Traceability Market (by End User), $Billion, 2019 and 2025
Figure 6: Global Food Traceability Market (by Region), $Billion, 2019
Figure 7: Global Food Traceability Market Coverage
Figure 8: Porter’s Five Forces Analysis
Figure 9: Year-Wise Patents Filed for Global Food Traceability Market, January 2017-December 2020
Figure 10: Patent Analysis (by Status), January 2017 to December 2020
Figure 11: Patent Analysis (by Company), January 2017 to December 2020
Figure 12: Business Dynamics of Global Food Traceability Market
Figure 13: Types of Food Fraud, 2018
Figure 14: Most Common Causes of Food Recalls in the U.S. (2019)
Figure 15: Annual Food Loss During the Processed Food Stage
Figure 16: Share of Key Market Strategies and Developments, January 2017- November 2020
Figure 17: Product Development (by Company), January 2017-November 2020
Figure 18: Business Expansions (by Company), January 2017–November 2020
Figure 19: Mergers and Acquisitions (by Company), January 2017-November 2020
Figure 20: Partnerships, Collaborations, and Joint Ventures (by Company), January 2017–November 2020
Figure 21: Global Food Traceability Market (by Application)
Figure 23: Global Food Traceability Market (by Product)
Figure 24: Germany Food Traceability Market (by Application), $Billion, 2019-2025
Figure 25: Honeywell International Inc: R&D (2017-2019)
Figure 26: Bio-Rad Laboratories: R&D (2017-2019)
Figure 27: IBM Corporation R&D (2017-2019)
Figure 28: Intertek Group: R&D (2017-2019)
Figure 29: Cognex Corporations: R&D (2017-2019)
Figure 30: Zebra Technologies R&D (2017-2019)
Figure 31: Thermo Fisher Scientific R&D (2017-2019)
Figure 32: Infor R&D, 2017-2019
Figure 33: Research Methodology
Figure 34: Top-Down and Bottom-Up Approach
Figure 35: Food Traceability Market Influencing Factors
Figure 36: Assumptions and Limitations
Report Description
Market Report Coverage - Food Traceability |
|||
Base Year |
2019 |
Market Size in 2019 |
$15.60 Billion |
Forecast Period |
2020-2025 |
Value Projection and Estimation by 2025 |
$26.31 Billion |
CAGR During Forecast Period |
9.10% |
Number of Tables |
36 |
Number of Pages |
151 |
Number of Figures |
36 |
Research Hours |
700 |
|
|
Market Segmentation |
• Product Type - RFID, Barcodes, Infrared, Biometrics, Others • Application - Dairy ProductsMeat, Poultry, and Seafood, Beverages, Fresh Produce, Others (Grains, Seeds, Nuts) • End Users - Food Manufacturers, Food Retailers, Government Department, Warehouses, Others (Defense and Security Departments, Farmers, On-Profit Organizations, and Cooperative Organizations) |
||
Regional Segmentation |
• North America – U.S., Canada, and Mexico • Europe – Germany, France, and Italy • U.K. • Asia-Pacific and Japan – Australia, New Zealand, Japan, and India • China • Middle East and Africa- Saudi Arabia, South Africa, and Israel • South America- Brazil and Argentina |
||
Growth Drivers |
• Rising concerns toward food safety among consumers • Increase in food products recalls and contamination cases • Initiatives by regulatory bodies to improve food safety across countries |
||
Market Challenges |
• Lack of basic infrastructure in developing countries • Difficulty in data collection and accuracy of information • Cost requirements for traceability systems |
||
Market Opportunities |
• Technological advancements in the food traceability industry • Growth opportunities in emerging markets |
||
Key Food Traceability Companies Profiled |
Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IBM Corporation, Intertek Group, Cognex Corporation, and Zebra Technologies, among others |
Key Questions Answered in this Report:
• What are the underlying structures resulting in the emerging trends within the global food traceability market?
• What are the estimations for the global food traceability market size in terms of revenue for the period 2019-2025? What is the expected compound annual growth rate (CAGR) during the forecast period 2020-2025?
• What are the expected outlook and revenue generated by the different types of product offerings, including RFID, barcode, infrared, biometrics, and others, for the period 2019-2025?
• What are the expected outlook and estimated revenue of different applications of good traceability systems, namely, dairy products, meat, poultry and seafood, beverages, fresh produce, and others, for the period 2019-2025?
• What are the expected outlook and estimated revenue of different end users, namely food manufacturers, food retailers, government department, warehouses, and others, for the period 2019-2025?
• What are the current market size, forecast, and regional market trends of the global food traceability market across different regions, namely North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa?
• What are the major restraints inhibiting the growth of the global food traceability market?
• What kind of new growth strategies (mergers and acquisitions, partnerships, expansions, products, others) are being adopted by the existing market players to expand their market share in the industry?
• What is the impact of COVID-19 on the global food traceability market?
Market Overview
There has been an increase in the focus among companies in the food industry over the implementation of food traceability systems in their working. Due to the increasing food contamination cases, mass product recalls, and food adulteration incidents, the need of a traceability system for the safety and reliability of food is a must. With a hands-on traceability system where the consumer can check the farm-to-fork history of their product, the consumer’s trust can be achieved. Also, governments have made active contributions for the betterment of the food industry with laws and regulations that promote food traceability and make it mandatory in some areas. The food safety and traceability system is a solution to a number of problems in the food industry and is a must to achieve complete food safety.
Major driving factors for the global food traceability system industry over the years have been the increasing concern among consumers regarding the safety of their food. Several food adulteration incidents and recalls have added to the diminishing trust among consumers regarding their food’s safety. Key companies in the industry are actively incorporating tracking and tracing systems in their working, and companies like IBM Corporation have developed a food traceability software named IBM Food Trust, which is a big solution to major food industry companies.
Competitive Landscape
The competitive landscape of the global food traceability market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by food traceability software and hardware manufacturers are new product launches, business expansions, partnerships, and collaborations. Among all the strategies adopted, business expansions have been the most prominent strategy adopted by the food traceability product manufacturers. The competitive landscape provides an organization with the edge to understand its key business strategy in the industry, its current competitors, and potential future competitors that might have made their way into the market.
The global food traceability market is poised to grow over time, compelling companies to come up with collaborative strategies to sustain in the intensely competitive market. Companies with an identical product portfolio with a need for additional resources often partner and come together for joint venture programs, which help the companies gain access to one another’s resources and facilitates them to achieve their objectives faster. This strategy has been a widely adopted strategy by the players in this market. For instance, in December 2020, the United Nations Development Program partnered with the Singapore Monetary Authority to use blockchain technology to enhance product identification, traceability, and verification in agricultural and food supply chains.
Key players in the global food traceability market are coming up with different product launch activities to generate public awareness about their new and upcoming hardware and software traceability products. The product development and innovation have helped these companies to compete with the competitors' product portfolio. This strategy has also been a widely adopted strategy by the players in this market. For instance, in December 2020, Ninjacart launched Footprint, a complete food traceability infrastructure that captures the end-to-end footprint traceability of fruits and vegetables.
Food Traceability Market - A Global and Regional Study
Focus on Products (Barcode, RFID, Infrared), Applications (Dairy, Meat, Poultry and Seafood), End-User (Food Retailer, Food Manufacturer, Warehouses) and Country-Level Analysis - Analysis and Forecast, 2019-2025
Frequently Asked Questions
The food traceability market is expected to grow at a CAGR of 9.10% during the forecast period, 2020-2025.
Factors challenging the growth of the food traceability market, include lack of basic infrastructure in developing countries, difficulty in data collection and accuracy of information, and cost requirements for traceability systems.
The applications for which food traceability can be used include dairy productsmeat, poultry, and seafood, beverages, fresh produce, others (grains, seeds, nuts).
RFID tags, barcodes, infrared, biometrics, and others are some of the products that can be used for food traceability.
Top players in the market include Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IBM Corporation, Intertek Group, Cognex Corporation, and Zebra Technologies, among others.