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.
Food Traceability Market Analysis and Size
The global food traceability market is experiencing significant growth and is expected to continue expanding over the forecast period. This growth is primarily driven by increasing concerns regarding food safety and quality, as well as a rise in foodborne illnesses. Governments worldwide are implementing stringent regulations mandating food traceability to ensure transparency and accountability in the food supply chain. In addition, consumers are becoming more conscious about the origin of their food and are demanding more information about the products they consume. This trend is further fueling the adoption of food traceability solutions by food manufacturers, retailers, and restaurants. Technological advancements, such as blockchain, RFID, and QR codes, are playing a crucial role in enhancing food traceability systems, making them more efficient and reliable.
Global food traceability market size was valued at USD 21.05 billion in 2023 and is projected to reach USD 46.12 billion by 2031, with a CAGR of 10.30% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
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Market Players Covered
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C.H. Robinson Worldwide, Inc (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Optel Vision inc. (Canada), Cognex Corporation (U.S.), Honeywell International Inc. (U.S.), SGS SA (Switzerland), Zebra Technologies Corp. (U.S.), Bar Code Integrators, Inc (U.S.), Carlisle Companies Inc. (U.S.), Merit-Trax Technologies (Canada), Trustwell (U.S.), Food Forensics Limited (U.K.), Bext360 (U.S.), ANTARES VISION S.p.A. (U.S.), Covectra, Inc. (Italy), TE-FOOD International GmbH (Germany), Source Trace (U.S.), Trace One (U.S.), Crest InfoSolutions (Ireland), DAMSELFLY SOLUTIONS INC (U.K.)
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Market Opportunities
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Market Definition
Food traceability is the ability to track the movement of food products through all stages of production, processing, and distribution. It involves recording and documenting information about the origin, processing, and distribution of food products to ensure their safety, quality, and authenticity. Food traceability systems use various technologies, such as barcodes, RFID tags, and blockchain, to collect and store information that can be used to trace the history of a food product from farm to fork.
Food Traceability Market Dynamics
Drivers
- Growing Consumer Demand for Transparency
There is a noticeable increase in consumer awareness and demand for transparency in the food supply chain, which is propelling the adoption of food traceability solutions. Consumers are becoming more conscious about the origin, production methods, and ingredients of the food they consume. This heightened awareness has led to a greater demand for traceability systems that can provide detailed information about the journey of food products from farm to table. As consumers prioritize health, sustainability, and ethical practices, food companies are under pressure to implement robust traceability systems to meet these demands and build trust with their customers.
- Stringent Food Safety Regulations
Governments and regulatory bodies worldwide are implementing stringent food safety regulations, which is a key driver for the food traceability market. These regulations aim to ensure the safety and quality of food products and prevent foodborne illnesses. By mandating the tracking and tracing of food products throughout the supply chain, these regulations help to identify and address potential safety issues promptly. The implementation of such regulations has made it imperative for food companies to adopt traceability systems that can ensure compliance with these standards. As a result, the demand for food traceability solutions is on the rise, driven by the need to meet regulatory requirements and ensure consumer safety.
Opportunities
- Emergence of Blockchain Technology
The adoption of blockchain technology in food traceability systems is revolutionizing the market by offering unparalleled security, transparency, and immutability in record-keeping. Blockchain enables every transaction and data point in the supply chain to be securely recorded and verified, creating a tamper-proof system. This enhances the integrity and reliability of traceability systems, providing consumers with unprecedented visibility into the journey of their food products and creating new opportunities for the market.
- Integration of IoT and Big Data Analytics
IoT devices, such as sensors and RFID tags, can collect real-time data on factors like temperature, humidity, and location, providing valuable insights into the conditions of food products during transit and storage. This data, when analyzed using big data analytics, can help companies optimize their supply chain operations, improve product quality, and reduce waste. By enabling real-time monitoring and analysis, IoT and big data analytics are transforming food traceability systems into dynamic and responsive platforms that can adapt to changing market demands. The integration of Internet of Things (IoT) devices and big data analytics in food traceability systems is driving innovation and efficiency in the market and creating new growth opportunities.
Top of Form
Restraints/Challenges
- High Implementation Costs
The cost of acquiring and maintaining the necessary technology, such as RFID tags, sensors, and data management software, can be prohibitive for smaller companies with limited resources. In addition, the complexity of integrating these systems into existing supply chain infrastructure can further drive up costs. As a result, many SMEs are hesitant to adopt traceability systems, which can limit the overall effectiveness and reach of traceability initiatives in the market.
- Lack of Standardization in Food Traceability
Different regions and industries may have varying standards and requirements for traceability, making it difficult to implement a uniform system across the food supply chain. This lack of standardization can lead to inefficiencies, as companies may need to comply with multiple standards and protocols. In addition, it can hinder interoperability between different traceability systems, limiting the ability to trace products across the entire supply chain. The lack of standardization in food traceability systems presents a significant challenge for the market.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In January 2024, SpartanNash announced a partnership with ReposiTrak to introduce a traceability program aimed at enhancing the safety and transparency of its supply chain. Through this initiative, hundreds of suppliers involved in harvesting or handling products listed by the U.S. Food and Drug Administration for food traceability are mandated to provide traceability data to SpartanNash and its wholesale customers
- In September 2023, iFoodDS and IBM unveiled a technology-driven traceability solution called iFoodDS Trace Exchange, in collaboration with IBM Food Trust. This solution aims to assist companies throughout the food supply chain in complying with the FDA's Food Traceability Rule, FSMA 204(d). Powered by the IBM Sterling Supply Chain Intelligence Suite and iFoodDS Trace Exchange, this joint offering enables companies to connect and exchange data on the IBM Food Trust network
Food Traceability Market Scope
The market is segmented on the basis of technology, equipment, software type, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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 users
- Food Manufacturing
- Warehouse and Transport
- Retailing
- Government Departments
- Others
Food Traceability Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, technology, equipment, software type, application, and end user as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the market due to a blend of regulatory actions, consumer preferences, technological capabilities, industry partnerships, and a firm commitment to food safety and quality. The region's proactive stance in embracing and enhancing traceability solutions establishes it as a frontrunner in promoting transparency and responsibility across the food supply chain.
Asia-Pacific is expected to show significant growth due to a mix of regulatory changes, industry trends, technological progress, evolving consumer demands, and its expanding role in the global food supply chain. The proactive implementation of traceability solutions is expected to play a crucial role in tackling emerging challenges and guaranteeing the safety and transparency of the food industry in Asia Pacific.
The country section of the report also provides individual market-impacting factors and changes in market regulation that affect the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Food Traceability Market Share Analysis
The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.
Some of the major market players operating in the market are:
- C.H. Robinson Worldwide, Inc (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Optel Vision inc. (Canada)
- Cognex Corporation (U.S.)
- Honeywell International Inc. (U.S.)
- SGS SA (Switzerland)
- Zebra Technologies Corp. (U.S.)
- Bar Code Integrators, Inc (U.S.)
- Carlisle Companies Inc. (U.S.)
- Merit-Trax Technologies (Canada)
- Trustwell (U.S.)
- Food Forensics Limited (U.K.)
- Bext360 (U.S.)
- ANTARES VISION S.p.A. (U.S.)
- Covectra, Inc. (Italy)
- TE-FOOD International GmbH (Germany)
- Source Trace (U.S.)
- Trace One (U.S.)
- Crest InfoSolutions (Ireland)
- DAMSELFLY SOLUTIONS INC (U.K.)
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