November 14, 2019 by Jason Lee
The global market status for Food Traceability is precisely examined through a smart research report added to the broad database managed by Facto Market Insights. The study discusses the prime market growth factors along with future projections expected to impact the Food Traceability Market during the period between 2018 and 2025. Furthermore, readers can gather knowledge about the economic status, demographics and competitive landscape which is prevailing in the concerned industry. In addition, a deep analysis of the competitive landscape, including prime market players is also enclosed in this report.
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Global food traceability market was valued at $10,963.0 million in 2017, and is expected to reach $22,274.1 million by 2025, registering a CAGR of 9.3% from 2018 to 2025. Food traceability is a risk-management tool used to check potential harms that may be associated with food, feed, food-producing animals, or substance. This is meant to ensure food safety through all stages of food production, processing, and distribution. Food traceability involves food business authorities to recall or drop out products considered unsafe, and allows provision of accurate information to the public. Food traceability prevents transmission of disease from animals to humans and controls the presence of certain chemicals above fixed limits, which when used in excess can affect the quality of products related to feed & food.
The market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. In 2016, Asia-Pacific accounted for the largest share in the global market, followed by North America. The former region is projected to maintain its dominance throughout the forecast period.
Recent updates related to this market include introduction of traceability technology by Fonterra in April 2017, for letting its customers to check the authenticity of infant formula products on store shelfs in New Zealand. In addition, launch of online traceability platform by the Crunchies Natural Food Company, of Westlake Village, Callif. In April 2017, has allowed its consumers to trace the source of the fruits or vegetables purchased.
Comprehensive competitive analyses of leading market players, including Bio-Rad Laboratories, Inc., CH Robinson Worldwide Inc., Cognex Corporation, E. I. Du Pont de Nemours and Company (DuPont), Honeywell International Inc., International Business Machines Corporation, Motorola Solutions, Inc., SGS SA, Zebra Technologies Corporation and MASS Group Inc., are provided in this report.
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