Rising need to track food products in the supply chain and monitor the flow of materials and need to increase quality control are some key factors driving market revenue growth
food traceability market size reached USD 4.54 Billion in 2020 and is expected to register a revenue CAGR of 10.2%, during the forecast period, according to latest analysis by Emergen Research. Some of the major factors driving global food traceability market revenue growth include increasing deployment of traceability solutions to digitize, secure, and leverage valuable data, thereby enabling safe and sustainable transparency in the supply chain and for tracking and tracing products flow – from raw materials to consumers – and more innovative, interoperability, and efficiency. In addition, rising need to increase quality control systems and reduce risks are other factors expected to continue to boost revenue growth of the market in the near future. Quality control in food traceability systems can enable evaluation of food quality along supply chain stages and aids in enhancing customer experience and satisfaction.
Continuous consumer demand for more transparency related to food product aspects to be provided on product labels – from origin of raw materials to agricultural practices and ingredients used in the production of food products – is expected to support market growth going ahead. Raw material traceability solutions provide complete visibility, thereby enabling consumers to know producer details with socio-economic profile information, farming practices, and potential human and environmental impact, and deployment of these solutions is expected to continue to incline and in turn, boost , market growth.
The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Food Traceability market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.
Request to Sample PDF Brochure: https://www.emergenresearch.com/request-sample/843
Inventive Product Launch Declaration by Crucial Players to Spur Market Growth
The report offers a complete analysis of the global Food Traceability market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations.
Based on the competitive landscape, the market report analyzes the key companies operating in the industry:
Honeywell International Inc., Cognex Corporation, Keyence Corporation, Bext360 Inc., Foodlogiq LLC, TraceOne Inc., Traceall Global Limited, Merit-Trex Technologies Inc., TE-Food Enterprise, and Carlisle Incorporated.
The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Highlights From the Report
Detailed Regional Analysis covers:
To get to know more about the short-term and long-term impact of COVID-19 on this market,
Emergen Research has segmented the global food traceability segments on the basis of equipment, software, technology, application, end-use, and region:
Key point summary of the report:
Ask for Customization: https://www.emergenresearch.com/request-for-customization/843
Thank you for reading the research report. We also offer report customization as per client requirement. Kindly connect with us to know more about the customization feature and our team will offer you the best suited report.
Have a Look at Related Research Insights:
Smart Farming Market https://www.emergenresearch.com/industry-report/smart-farming-market
Synthetic Food Market https://www.emergenresearch.com/industry-report/synthetic-food-market
Food Safety Testing System Market https://www.emergenresearch.com/industry-report/food-safety-testing-system-market
Deep Neural Networks Market https://www.emergenresearch.com/industry-report/deep-neural-networks-market
Lighting as a Service Market https://www.emergenresearch.com/industry-report/lighting-as-a-service-market
Sensor Fusion Market https://www.emergenresearch.com/industry-report/sensor-fusion-market
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
Visit for More Insights: https://www.emergenresearch.com/insights