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 @ http://www.reportbazzar.com/request-
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.