Global Food Traceability Market Projected to Show Strong Growth by 2026

Posted by swamiv on October 30th, 2019

Food traceability market is defined as the integration of tracking technologies for food products in the entire manufacturing and commercialization processes. These technologies are implemented in the processing stage of raw materials, production of food products which involve the conversion of raw materials into end-use products till the point of distribution and their subsequent commercialization.

Food traceability market is growing due to government rules and legislative framework, ability to trace contamination and assist product call; the effects of these factors are mentioned below:

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  •          Government rules and legislative framework: One of the most significant factor that is improving the levels of adoption for this technology is the increasing strictness in implementation of government-based rules and legislations. These regulations are focused on better accountability and transparency in the entire food supply chain helping to improve the accountability of contamination, if any. This also ensures that only high quality products are being delivered to the consumers in the market
  •          Ability to trace contamination and assist product call: Along with the implementation of regulations imposing greater adoption rate for food traceability, there is also a number of benefits associated with the utilization of food traceability which is enhancing the levels of market demands. These benefits improve the ability levels of manufacturers and authorities when and if they detect any contamination or disease presence in the food products, by helping them call back the products from each and every supply chain stage by tracking the correct information in a streamlined manner.

Innovative product launches by companies in Food Traceability Market:

  •          EVRYTHNG in partnership with Mowi ASA announced the availability of first end-to-end traceability platform designed for the seafood industry. This platform will be used for delivering complete transparency of information for Mowi’s salmon. This platform is also the industry’s first applicable use of “GS1 Digital Link” standard helping achieve smartphone interactive ability as well as web-connectivity
  •          In March 2018, Carrefour announced the availability of blockchain technology for their vegetable and animal product lines, eggs, cheese, milk, oranges, tomatoes, salmon and ground beef steak. This technology will provide traceability information along the entire supply chain in relation to each department of the product processing as well as its specific batch. Each individual product will consist of an QR code which can be scanned with the help of smartphones or smart reading devices helping the user gain the traceability information

The market is segmented on the basis of technologies as infrared, biometric, GPS, RFID, barcodes, NFC; end users as warehouse, government departments, manufacturer, retailer, farmers, defense & security departments, other; applications as seafood products, fresh food & seeds, beverage products, meat & poultry, dairy products, canned or bottled food, others.

“According to Data Bridge Market Research, Food traceability market is expected to be growing with a substantial CAGR of 9.30% during the forecast period of 2019 to 2026”

Some of the major players operating in market are Honeywell International Inc., DuPont, IBM Corporation., United Electronics Co. L.L.C.., MASS Group., Merit-Trax Technologies, C.H. Robinson Worldwide, Inc., Bar Code Integrators, Inc., Bio-Rad Laboratories, Inc., Carlisle Technology, Cognex Corporation, Picarro, Inc., SGS SA, Thermo Fisher Scientific, Zebra Technologies Corp., Datalogic S.p.A., FoodLogiQ, Infor., Mar-Kov Computer Systems Inc., STID, Impinj, Inc. among others.

Due to the increasing presence of foodborne diseases and contamination in food products, there has been an increased focus of authorities and consumers from the emerging regions of the world. The authorities of these regions are adopting better measures and technologies ensuring that the products provided to the population are free from any contamination or diseases. This technology also safeguards that the entire information regarding the products are available to the consumers in an easy form without any complications or special requirements.

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swamiv

About the Author

swamiv
Joined: October 30th, 2019
Articles Posted: 149

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