The food traceability market is projected to grow at a CAGR of about 9% from 2014 to reach 14 billion by 2019.
The report « Food Traceability Market », from MarketsandMarkets, defines and segments the global 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.
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.
Traceability 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.
Scope of the Report :
The research study categorizes the food traceability market on the basis of technologies, end users, applications, and regions:
- On the basis of technology, the market was sub-segmented as follows: RFID technology, GPS, Barcode, Infrared, Biometric
- On the basis of end user, the market was sub-segmented as follows: Food manufacturers, Warehouse Food retailers, Government departments, Others (non-profit organization, animal welfare organization, and cooperative organization)
- On the basis of application, the market was sub-segmented as follows: Meat products, Fresh food produce, Dairy products, Seafood products, Others (grains, oilseed, and coffee)
- On the basis of region, the market was sub-segmented as follows: North America, Europe, Asia-Pacific, ROW
Leading market players in the food traceability market include
- Honeywell International, Inc.
- C.H. Robinson Worldwide, Inc.
- Bio-Rad Laboratories, Inc.
- Cognex Corporation