Food Traceability Market Size, Share, Trends and Forecast To 2032

Food Traceability Market: Size

The global food traceability market size was worth around USD 20.94 billion in 2023 and is predicted to grow to around USD 44.50 billion by 2032 with a compound annual growth rate (CAGR) of roughly 8.86% between 2024 and 2032.

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The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The report covers a forecast and an analysis of the food traceability market on a global and regional level.

Food Traceability Market: Overview

Food traceability refers to the ability to track and trace the movement of food products through different stages of production, processing, and distribution. This system involves recording and identifying each step in the supply chain to ensure that food safety and quality standards are maintained. By leveraging technologies like barcoding, RFID tags, blockchain, and advanced data analytics, food traceability systems can provide detailed information about the origin, handling, and journey of food items from farm to table. Effective traceability helps in quickly identifying and addressing food safety issues, recalls, and contamination incidents, thereby protecting consumer health and maintaining trust in the food supply.

Traceability technology enables product tracking throughout the supply chain, from raw material suppliers to end consumers. Food traceability monitors and tracks food products during transit so that the products safely reach their potential customer or retailer. The technology used in food traceability method traces the precise product to prevent the exchanging of discarded or contagious food with consumable food. There are several technologies used for food traceability with varying applications. These technologies focus on providing quick, accurate, and efficient solutions to prevent contaminated food products from reaching customers.

The study includes the drivers and restraints of the food traceability market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the food traceability market on a global level.

In order to give the users of this report a comprehensive view of the food traceability market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.

Food Traceability Market: Growth Factors

The global food traceability market is experiencing significant growth, owing to the growing concerns regarding food safety due to rising health consciousness among the global population. Currently, changing lifestyles of people and their rising per capita income is stimulating health consciousness among the population. Moreover, globally increasing food recalls is also boosting this market. The food traceability market is currently epitomized by high demand and supply, which is fuelling intense competition and various competitive challenges in the market. This intense market competition has led to better quality standards, technology innovations, product diversification, and product differentiation by the market players. Companies are significantly investing in R&D to develop more advanced technology. These are some factors driving this global market. However, high costs of food traceability technologies may restrict this market’s development over the upcoming years.

Food Traceability Market: Segmentation

The study provides a decisive view of the food traceability market by segmenting it based on technology, end-user, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on technology, the food traceability market is fragmented into RFID, barcodes, GPS, infrared, and biometrics.

On the basis of end-user, the market is categorized into food manufacturers, warehouse food retailers, government departments, and others.

On the basis of application, the market includes fresh food, meat and poultry, seafood, spices and condiments, beverages, and others.

Food Traceability Market: Report Scope

Food Traceability Market: Regional Analysis

The regional segmentation includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

North America holds an extensive market share of the global food traceability market, owing to the stringent regulations and mandates regarding food safety and the ongoing developments related to food traceability technologies. Europe is expected to register modest development in the global food traceability market in the future, owing to the rising concerns regarding food safety among the regional population. Since 2002, feed and food traceability have been made mandatory in Europe for all types of food products. Moreover, FoodTrace is one of the major programs in Europe is intended to improve traceability methods. This will further the region’s food traceability market growth in the future.

Food Traceability Market: Key Players Analysis

Some major players operating in the global food traceability market include:

• Honeywell International
• C.H. Robinson Worldwide
• Bio-Rad Laboratories
• DuPont
• Cognex Corporation
• SGS
• A2B Tracking Solutions
• Picarro
• Motorola Solutions
• Merit-Trax Technologies

This report segments the global food traceability market into:

Global Food Traceability Market: Technology Analysis

• RFID
• GPS
• Barcodes
• Infrared
• Biometric

Global Food Traceability Market: End-User Analysis

• Food Manufacturers
• Warehouse Food Retailers
• Government Departments
• Others

Global Food Traceability Market: Application Analysis

• Fresh Food
• Meat and Poultry
• Beverages
• Spices and Condiments
• Seafood
• Others

Global Food Traceability Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa