The
emergence of innovative food traceability technologies is one of the
key factors anticipated to encourage the growth of the global food
traceability market in the next few years. The key players in the
market are emphasizing on developing new technologies to expand their
application base and establish their presence in the global market.
Moreover, the growing awareness among the consumers regarding food
safety is further driving the global food traceability market.
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This
research study on food traceability market offers a detailed
analysis, emphasizing on the key growth factors that are expected to
influence the growth of the market in the near future. The research
study has taken help of several analytical tools to determine the
potential opportunities in the market, along with the current market
trends. Furthermore, the product segmentation, and geographical
segmentation of the global food traceability market have been
discussed in the research report.
Furthermore,
the research study presents insights into the competitive analysis of
the global food traceability market and throws light on the key
players operating in the market. In addition, the key strategies
adopted by the leading players have also been discussed in the report
to give a clear understanding of the market to readers and
decision-makers. The inputs given by professionals and industry
experts are expected to help the players in formulating business
strategies effectively.
Overview
of the Global Food Traceability Market
The
global food traceability market is expected to witness significant
growth in the near future, thanks to growing applications in diverse
sectors, such as logistics, packaging, storage, retail, and handling.
Technological advancements and the increasing number of product
recalls and traces contamination are the primary factors expected to
augment the growth of the global
food traceability market in the next few years.
Some
of the key technologies for food traceability used across the globe
are RFID, barcode, biometrics, infrared, and GPS. These technologies
have diverse applications in different types of food products and at
different stages of the food movement. At present, barcode is used
extensively for packaged foods, whereas GPS and RFID are used widely
for food involving movement of live feedstock.
The
rising demand for food traceability technologies from developing
countries, legislative framework, and cost reduction are some of the
other factors encouraging the growth of the overall market in the
coming years. However, the rising privacy issues in data sharing and
additional cost required on traceability systems are the prime
factors expected to curtail the growth of the market in the near
future. In addition, the difficulty in the accuracy of information
and data collection are the key challenges for the key players in the
market. Thus, the leading players in the market are expected to
introduce new technologies, emphasizing on these challenges in order
to augment the growth of the market across the globe.
Companies
Mentioned in the Research Report
The global food traceability market is at a nascent stage and holds immense potential to grow in the next few years. The key players in the market are persistent on new and innovative technology launches in order to sustain in the market and expand their facilities in untapped markets. Some of the prominent players operating in the global food traceability market are IBM Corp., A2B Tracking Solutions, Motorola Solutions, Inc., Picarro Inc., Barcoding Inc., and Merit-Trax Technologies Inc. Several new players are expected to enter the market offering innovative technologies in the next few years.
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