Global Food Traceability Market to Reach $26.31 Billion by 2025
The global food traceability market is projected to reach $26.31 billion by 2025,according to CRI’s new report. The study also highlights that the market is set to witness a CAGR of 9.10% between 2020 and 2025.
What the comprehensive study of the global food traceability market extensively covers ?
• The strategies taken by the key manufacturers and how they are going to transform the industry in the coming future
• The global market size of the global food traceability market – analyzed and estimated keeping in consideration with COVID-19 impact, during the forecast period 2020-2025
• A detailed global and regional analysis of the global food traceability market, including growth trends, driving forces, companies involved, and estimated global food traceability market size with COVID-19 impact for ten countries
Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, segmental analysis, and the regional landscape of the market.
This report indicates that the increased demand for food traceability systems is a significant factor in driving the global food traceability market growth. The increase in food adulteration incidents, mass product recalls, and food-borne diseases has led to an increase in demand for traceability systems, majorly in the emerging economies.
The study highlights the various emerging opportunities, such as growth opportunities in emerging economies for market development, which can also be leveraged by players operating in the market.
To gain a holistic view of the market, data from different market segments have been analyzed minutely. These segments include dairy products, meat, poultry and seafood, beverages, fresh produce, and others, applications such as grain, seeds and nuts, others, and regions. Each of these segments is further categorized into sub-segments to compile an in-depth study.
“In 2019, the global food traceability market, by applications category, was dominated by the dairy products segment. The growth can be attributed to a huge market of dairy products in the Asia-Pacific region, especially in countries such as India, China, and Japan. Increasing food-borne diseases and food adulteration incidents in the dairy products also add up to the increasing demand for food traceability systems in this segment.”, according to this report.
Key insights are drawn from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The key players profiled in the report include Honeywell International Inc, C.H. Robinson Inc, DuPont Nutrition and Biosciences, Bio-Rad Laboratories, IBM Corporation, Intertek Group, Cognex Corporation, and Zebra Technologies, among others.
The study also offers strategic reasoning for growth that can help organizations track various products, trends, and technologies that are changing the dynamics of the market. The recommendations also offer bespoke research services to help organizations meet their objectives.
Who should buy this report?
• Food manufacturers, such as Nestle, PepsiCo and Coca-Cola, and others
• Companies in the food retailers segment along with warehouses for food storage
• Business organizations, such as financial institutions, government agencies, and manufacturing industries
How can the market intelligence on global food traceability add value to an organization’s decision-making process?
• Identification of prominent indicators to adopt business growth strategies (such as product launch, M&A, partnerships, and expansions) to grow in the global food traceability market
• Regulatory body analysis of key regions in the global food traceability market
• Scrutiny of how COVID-19 impacted the market dynamics and the expected market recovery scenario
• Identification of the competitive strength of key players in the global food traceability market based on the evaluation of their market coverage and market potential
Insightful Questions Covered to Enable Companies take Strategic Decisions
• What are the underlying structures resulting in the emerging trends within the global food traceability market?
• What are the estimations for the global food traceability market size in terms of revenue for the period 2019-2025? What is the expected compound annual growth rate (CAGR) during the forecast period 2020-2025?
• What are the expected outlook and revenue generated by the different types of product offerings, including RFID, barcode, infrared, biometrics, and others, for the period 2019-2025?
• What are the expected outlook and estimated revenue of different applications of good traceability systems, namely, dairy products, meat, poultry and seafood, beverages, fresh produce, and others, for the period 2019-2025?
• What are the expected outlook and estimated revenue of different end users, namely food manufacturers, food retailers, government department, warehouses, and others, for the period 2019-2025?
• What are the current market size, forecast, and regional market trends of the global food traceability market across different regions, namely North America, South America, the U.K., Europe, Asia-Pacific and Japan, China, and the Middle East and Africa?
• What are the major restraints inhibiting the growth of the global food traceability market?
• What kind of new growth strategies (mergers and acquisitions, partnerships, expansions, products, others) are being adopted by the existing market players to expand their market share in the industry?
• What is the impact of COVID-19 on the global food traceability market?