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Food Traceability Market worth $14 Billion by 2019
The report, "Food Traceability Market by Technology (RFID, GPS, Barcode, Infrared, Biometric), End User (Manufacturer, Warehouse, Retailer, Government), Application (Fresh food Produce, Meat & Poultry, Seafood, Dairy, Beverage) & Region - Global Trend & Forecast to 2019" defines and segments the food traceability market on the basis of various technologies, end users, applications, and regions, with analyses and projections of the market size of each of these segments in terms of value. It also identifies the driving and restraining factors for the food traceability market with analyses of the trends, opportunities, drivers, and burning issues.
Browse 86 market data tables and 60 figures spread through 160 pages and in-depth TOC on “Food Traceability Market by Technology (RFID, GPS, Barcode, Infrared, Biometric), End User (Manufacturer, Warehouse, Retailer, Government), Application (Fresh food Produce, Meat & Poultry, Seafood, Dairy, Beverage) & Region - Global Trend & Forecast to 2019".
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Traceability is a technology that enables the tracking of a product throughout the supply chain, from raw material suppliers to end consumers. Traceability facilitates recall or withdrawal of food products whenever necessary. It enables consumers to be provided with targeted and accurate information concerning implicated products. It is crucial to the investigation of the causes of food poisoning and other contamination outbreaks.
The food traceability market is driven by the growth in foodborne diseases and food adulteration incidents. The food traceability market has been growing significantly over the last five years due to increasing concern among consumers for food safety and legislative framework. The key players adopted new technology launches and expansions as their preferred strategies to sustain the competition in the market. Barcode reader is the preferred technology for food traceability in the food & beverage industry.
Food Traceability Market Size, By Region, 2014 Vs. 2019 ($Million)
e - Estimated; p - Projected
Source: Company Website, Company Annual Reports, FDA, IUFoST, and MarketsandMarkets Analysis
The food traceability market is projected to grow at a CAGR of about 9% to reach $14 billion by 2019. In 2013, North America was the largest market for food traceability. Asia-Pacific is projected to be the fastest-growing market for food traceability during the review period. This is driven by the technological advancement and growing concern for food safety among consumers in developing countries such as India and China.
The report includes the marketing and development strategies, along with the product portfolio of leading companies. The report includes the profiles of the leading companies such as Honeywell International, Inc. (U.S.), C.H. Robinson Worldwide, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), DuPont (U.S.), Cognex Corporation (U.S.), and SGS S.A. (Switzerland). The key players in the market are persistent on new technology launches and expansion of their facilities in new markets and are actively investing in R&D activities to gain a competitive edge through new technology developments.
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