Food Traceability - Global Market Outlook (2017-2026) Food Traceability

Food Traceability - Global Market is accounted for $11.25 billion in 2017 and is expected to reach $20.95 billion by 2026 growing at a CAGR of 7.15%. ReportBazzar has released its latest research-based report entitled ‘Food Traceability’ market. The Global Food Traceability Market is accounted for $11.25 billion in 2017 and is expected to reach $20.95 billion by 2026 growing at a CAGR of 7.15% during the forecast period. Growing consumer concern for food safety, high demand in emerging economies, stringent export regulations and the increasing penetration of modern retail, such as supermarkets and hypermarkets are some of the key factors driving the market growth. However, factors such as associated cost, additional cost on traceability systems, varying needs for different products, lack of stringent laws in developing nations and privacy issues for data sharing are hindering the market growth. To Get Free Sample Copy of Report visit @ sample/RBPR10092018108387866 Food traceability comprises the capacity to identify and authenticate a variety of stages of food chain from production to distribution. It involves recognizing the origin of food and its destination, from where it will be distributed to end users. This system is necessary for food investigations and is crucial in global food trade as multi ingredient food includes materials from variety of food chain and countries. Food traceability system maintains the record of the flow of products which are actually meant for human consumption throughout the production process. Since food production and the distribution is a complex process the companies consider food traceability system as the best tool to solve all the food- related challenges. By technology, Radio-frequency identification (RFID) segment is predicted to have considerable market share during the forecast period owing to real time tracking of food items irrespective of weather conditions. By geography, Europe is one of the most concerned regions for food safety. The policies related to food safety are most severe in Europe, as compared to any other region. Food and feed traceability has been necessary in Europe, since 2002 for all types of food businesses in the region.