Food Traceability Market 2015 to grow at CAGR of 9.88% by 2019 : Market Research Store
Food traceability systems are used to keep a record of the flow of products meant for human consumption and product attributes throughout the production process or logistics network. Since food production and its distribution is a complex process, companies consider food traceability system as the best tool to solve all food-related challenges. Food traceability helps companies make fresh food products available to their consumers, thereby helping in reducing food-borne diseases. In many countries, such as the US and the UK, consumers are ready to pay more for products having a food traceability and point-of-origin certificate. Technologies such as infrared, RFID, biometrics, and sensors have made food traceability convenient for companies in the Food industry.
Global Food Traceability market to grow at a CAGR of 9.88% over the period 2014-2019.
Our analyst researched the following companies as the key players in the Global Food Traceability Market: E. I. du Pont de Nemours and Co., Honeywell International Inc., IBM Corp. and Intermec.
Other Prominent Vendors in the market are: Advanced Traceability Solutions, AFS Technologies, Airclic, Bar Code Integrators, Bio-Rad Laboratories, Checkpoint Systems, Cognex, DayMark Safety Systems, FoodLogiQ, HarvesterGear, Industrial Technology Systems, Lotpath, Markem-Imaje, Mass Group, Matthews Marking Systems, Motorola Solutions, N2N Global, Omron, ProWare Services, SoftTrace, ToolWorx, YottaMark and Zebra Technologies.
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Covered in this Report
This report covers the present scenario and the growth prospects of the Global Food Traceability market for the period 2015-2019. To calculate the market size, the report takes into account the total revenue generated through the technologies used in food traceability, equipment used, and various applications of food traceability.
Global Food Traceability Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the APAC region, Europe, Latin America, the MEA region, and North America; it also covers the Global Food Traceability market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Commenting on the report, an our analyst said: “The emergence of an analytics system is one of the major trends upcoming in this market. This system helps companies gather real-time data, thereby helping them in making informed decisions. It can be used in tracking food products in all phases of production, processing, packaging, and distribution.”
According to the report, one of the key drivers of the market is the increased demand from the food industry is one of the major drivers. In recent years, the demand for food products has increased rapidly because of the growth in the population, increased purchasing power, and growing number of health-conscious people.
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Further, the report states that high initial investment is one of the major challenges that the market faces. The initial investment required for food traceability equipment is high, which acts as a barrier for companies, especially SMEs, aiming to adopt the equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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