This Food Traceability Market sector is rapidly evolving, with substantial growth and advancements expected by 2031. In-depth market research offers a comprehensive analysis of market size, share, and trends, providing crucial insights into its expansion. The report explores market segmentation and definitions, elucidating key components and drivers. Utilizing SWOT and PESTEL analyses, it evaluates the market's strengths, weaknesses, opportunities, and threats, as well as political, economic, social, technological, environmental, and legal factors. Expert Competitors Analysis insights and recent developments shed light on the geographical distribution and project the market's future trajectory, laying a strong foundation for strategic planning and investment.
What is the projected market size & growth rate of the Food Traceability Market?
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.
Browse Detailed TOC, Tables and Figures with Charts which is spread across 350 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
This research report is the result of an extensive primary and secondary research effort into the Food Traceability market. It provides a thorough overview of the market's current and future objectives, along with a competitive analysis of the industry, broken down by application, type and regional trends. It also provides a dashboard overview of the past and present performance of leading companies. A variety of methodologies and analyses are used in the research to ensure accurate and comprehensive information about the Food Traceability Market.
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Which are the driving factors of the Food Traceability market?
The driving factors of the Food Traceability market include technological advancements that enhance product efficiency and user experience, increasing consumer demand driven by changing lifestyle preferences, and favorable government regulations and policies that support market growth. Additionally, rising investment in research and development and the expanding application scope of Food Traceability across various industries further propel market expansion.
Food Traceability Market - Competitive and Segmentation Analysis:
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 2031.
How do you determine the list of the key players included in the report?
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Which are the top companies operating in the Food Traceability market?
Some of the major players operating in the food traceability market are: