The Food Traceability Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2021-2026). The assessment provides a 360° view and insights, outlining the key outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions for improved profitability. In addition, the study helps venture or private players in understanding the companies more precisely to make better informed decisions.
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Food Traceability is the ability to track any food through any stages of production, processing, and distribution. It enables corrective actions such as a product recall to be implemented quickly and effectively when something goes wrong. When a potential food safety problem is recognized, whether by a food business or a government agency, an effective traceability system can help isolate and inhibit contaminated products from reaching consumers. It allows food businesses to target the products affected by food safety issues, minimizing disruption to trade and any potential public health risks. It is important for all food businesses including retailers as well as importers to be able to trace products.
On 28 Nov 2018, Auchan Retail has launched blockchain technology for food traceability internationally.
On 24 Sept 2018, Walmart has implemented IBM’s blockchain for food traceability.
On 28 Feb 2018, Bureau Veritas has launched Origin, the worldâ€™s first traceability label to give consumers a complete end-to-end proof of a productâ€™s journey, from farm to fork.
Major Players are:
Bio-Rad Laboratories, Inc. (United States),C.H. Robinson Worldwide, Inc. (United States) ,Cognex Corporation (United States),Honeywell International, Inc. (United States),SGS SA (Switzerland),Bar Code Integrators, Inc. (United States),Carlisle Technology Inc. (Canada),Mass Group Inc. (United States),Merit-Trax Technologies Inc. (Canada) ,Picarro Inc. (United States),
NOTE: Our analysts monitoring the situation across the globe explain that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
The titled segments and sub-section of the market are illuminated below:
Application (Meat & Livestock, Fresh Produce & Seeds, Dairy, Beverages, Fisheries, Others), Equipment (PDA with GPS, Thermal Printers, 2D & 1D Scanners, Tags & Labels, Sensors, Others), Technology (RFID/RTLS, GPS, Barcode, Infrared, Biometrics), End User (Food Manufacturers, Warehouse/Pack Farms, Food Retailers, Defense & Security Departments, Other Government Departments, Others)
The Use of Blockchain & IoT in Food Traceability
Traces Contamination and Assists Product Recalls
Certifications and Standardizations
Competitive Edge and Brand Loyalty
Information Flow Upstream & Downstream Of Supply Chain
Lack of Tracking Records
Overlapping and Conflicting Demands
Weak Technical Systems
High Demand for Tracking Technologies in Emerging Economies
Years considered for this report:
- Historical Years: 2015-2020
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2021-2026
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Extract from Table of Content:
Chapter 01 – Executive Summary
Chapter 02 – Market Overview
Chapter 03 – Key Success Factors
Chapter 04 – Covid-19 Crisis Analysis on Global Food Traceability Market
Chapter 05 – Global Food Traceability Market – Pricing Analysis
Chapter 06 – Global Food Traceability Market Background
Chapter 07 — Global Food Traceability Market Segmentation
Chapter 08 – Key and Emerging Countries Analysis in Global Food Traceability Market
Chapter 09 – Global Food Traceability Market Structure Analysis
Chapter 10 – Global Food Traceability Market Competitive Analysis
Chapter 11 – Assumptions and Acronyms
Chapter 12 – Research Methodology
What are the market factors that are explained in the Food Traceability Market report?
– Key Strategic Developments: Strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors.
– Key Market Features: Including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin.
– Analytical Tools: The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Questions Answered in the Report:
- How much is the Food Traceability MarketWorth?
- What is the Growth Rate of the Food Traceability Market?
- Which Segment ofthe Food Traceability to Hold the Highest Market Share?
- Which Segment ofthe Food Traceability Market to Witness Fastest Growth Rate?
- Which Region to Hold the Biggest Market Share?
- Who are the Key Players of the Food Traceability Market?
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