The Business Research Company’s Food Traceability Global Market Report 2024 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Food Traceability Global Market Report 2023 evaluates food traceability market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global food traceability market is expected to grow from $21.08 billion in 2023 to $23.3 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to consumer demand for transparency, globalization of food supply, foodborne illness outbreaks, IOT and sensors.The food traceability market size is expected to see rapid growth in the next few years. It will grow to $34.95 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%.
The growing cases of foodborne diseases and food adulteration are expected to propel the growth of the food traceability market going forward. Foodborne illnesses and adulteration refer to infections caused by contaminated food, often due to harmful pathogens. In contrast, food adulteration involves adding inferior or toxic substances to deceive consumers, compromise quality and safety and pose health risks. Norovirus and typhoid are a few examples of foodborne diseases. Consumers are seeking safer and more genuine products and they depend on food traceability to find the sources of contamination, assure correct handling and increase supply chain transparency. For instance, in January 2023, according to the Philippines Department of Health, a Philippine-based government department responsible for public health, 15,092 typhoid fever cases were reported in 2022, a 162% increase compared to 5,758 in 2021. Therefore, the growing cases of foodborne diseases and food adulteration will drive the food traceability market.
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The food traceability market segments in the report are:
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
The table of contents in TBRC’s food traceability market report includes:
- Executive Summary
- Food Traceability Market Characteristics
- Food Traceability Market Trends And Strategies
- Food Traceability Market – Macro Economic Scenario
- Global Food Traceability Market Size and Growth
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- Global Food Traceability Market Competitive Benchmarking
- Global Food Traceability Market Competitive Dashboard
- Key Mergers And Acquisitions In The Food Traceability Market
- Food Traceability Market Future Outlook and Potential Analysis
- Appendix
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