How Has the Food Traceability Market Evolved Historically and What is its Current Size?
The food traceability market has seen considerable growth due to a variety of factors.
• In recent times, the size of the food traceability market has seen considerable expansion. Its growth is projected to escalate from $23.3 billion in 2024 to $25.74 billion in 2025, adhering to a compound annual growth rate (CAGR) of 10.4%.
The expansion observed in the past can be linked to factors like customer demand for transparency, the internationalization of food supply chain, outbreaks of foodborne diseases, and the advent of IOT and sensors.
What is the Forecasted Market Size and CAGR for the Food Traceability Market?
The food traceability market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for food traceability is set to witness a significant surge, reaching $39.17 billion in 2029 with a compound annual growth rate (CAGR) of 11.1%.
This growth during the projected period can be credited to the implementation of blockchain, worldwide traceability platforms, incorporation of the circular economy, and consumer involvement. The forecast period will also see a strong trend towards real-time traceability, the utilisation of artificial intelligence (AI) and machine learning (ML), as well as technological advancements.
What Key Factors and Trends Are Driving The Growth Food Traceability Market?
The surge in foodborne illnesses and food tampering occurrences is anticipated to catalyze the expansion of the food traceability market. Foodborne diseases and tampering are often the results of food contamination due to harmful pathogens, while food tampering involves mixing inferior or harmful materials that could trick consumers and pose health hazards, lowering overall quality and safety. Conditions such as Norovirus and typhoid fall under the umbrella of foodborne diseases. To ensure product authenticity and safety, consumers depend on food traceability to identify sources of contamination, authenticate correct processing techniques, and improve visibility in the supply chain. As an example, the Philippines Department of Health reported 15,092 typhoid fever incidents in 2022, marking a 162% rise compared to a total of 5,758 cases in 2021, according to the data gathered in January 2023. Thus, the escalating instances of foodborne illnesses and food adulteration are predicted to stimulate the food traceability market. The upswing in sustainable food demand is poised to influence the food traceability market positively. Sustainable food encompasses health-safe food production, distribution, and consumption without the application of noxious pesticides, chemicals, unnecessary antibiotics, or growth-encouraging supplements. Food traceability forms an integral component in advocating sustainable food production, equipping consumers with knowledge regarding the environmental and societal implications tied to their food selections. Taking a case in point, NYU Stern, a research establishment in the US, uncovered that sustainability-marketed merchandise observed a growth of 17% in 2021, escalating to 17.3% in 2022 by April 2023. Consequently, the surge in sustainable food demand is expected to invigorate the food traceability market.
What Are The Market Segments In The Food Traceability Market?
The food traceability market covered in this report is segmented –
1) By Technology: Radio-Frequency Identification, Barcodes, Infrared, Biometrics, Global Positioning System
2) By Software: Enterprise Resource Planning (ERP), Friction Welding, Laboratory Information Management Software (LIMS), Warehouse Software, Other Types
3) By Application: Fresh Food Produce, Meat, Poultry And Seafood Products, Dairy Products, Beverage Products, Other Applications
Subsegments:
1) By Radio-Frequency Identification (RFID): Active RFID, Passive RFID, Semi-passive RFID
2) By Barcodes: 1D Barcodes, 2D Barcodes, QR Codes
3) By Infrared: Infrared Sensors, Infrared Thermography
4) By Biometrics: Fingerprint Recognition, Iris Recognition, Facial Recognition
5) By Global Positioning System (GPS): GPS Tracking Devices, GPS-Based Location Services
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How Are Emerging Trends Reshaping The Dynamics Of The Food Traceability Market?
Prominent firms in the food traceability market are leveraging blockchain technologies to overcome various challenges and stay ahead of their competitors. Blockchain technologies are widely used in this sector to boost transparency and safety within the food supply chain. For instance, in May 2023, OVO Farm Pvt. Ltd., an egg and egg product-producer based in India, introduced a one-of-its-kind blockchain technology that tracks their eggs from their origin at the farms to their final destination - the consumers. Through its main brand Kenko, OVO Farm ensures that its eggs, which are fresh, hygienic and of high quality, can be authenticated by scanning the QR code on each item. This application of blockchain technology ensures that the correct products are delivered to customers while ensuring quality.
Who Are the Key Players In The Food Traceability Market?
Major companies operating in the food traceability market are:
• Carrefour Group
• International Business Machines Corp.
• Oracle Systems Corporation
• Honeywell International Inc.
• C.H. Robinson Worldwide Inc.
• Motorola Solutions Inc.
• Avery Dennison Corporation
• SGS SA
• Carlisle Companies Inc.
• Zebra Technologies Corp.
• Bio-Rad Laboratories Inc.
• Cognex Corporation
• ANTARES VISION S.p.A.
• The Riverside Co. (FoodLogiQ)
• OPTEL GROUP
• SMAG
• iTradeNetwork Inc.
• Rfxcel Corporation
• TrusTrace (Swin Technologies AB)
• SourceTrace Systems India Pvt Ltd.
• Merit-Trax Technologies Inc.
• Bext360 Holdings Inc.
• Mass Group Inc.
• Traceall Global Ltd.
• Bar Code Integrators Inc.
• Covectra Inc.
• TE-FOOD International GmbH
• Damselfly Solutions Inc.
• HeavyConnect
• Minespider AG.
What Are The Regional Insights Into The Food Traceability Market?
North America was the largest region in the food traceability market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in food traceability market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
