Global Food Traceability Market to Register USD 35.48 Billion by 2029

 

According to recent research study published by Polaris Market Research, the global food traceability market size & trends is expected to register a CAGR of 9.0 percent and revenue is expected to increase from $18.15 billion in 2021 to $35.48 Billion by 2029.

A food traceability system is a tracking technology that helps to maintain the record of the flow of products from production to distribution. The companies consider a food traceability system the best tool to recognize the origin of food and its destination. They use this system to make fresh food products available to different end-users, which will ultimately help in reducing food-borne diseases. This food tracking system plays a key role in food investigations as well as in the global food trade as multi-ingredient food is made of materials that come from a variety of food chains & countries.

Meat & livestock, fresh produce & seeds, dairy, beverages, and fisheries are some of the main applications of the food traceability market. The growing development and utilization of advanced technology-based solutions such as infrared, RFID, biometrics, barcode, NFC, and sensors are boosting the food traceability market growth. The equipment that supports this system includes PDA with GPS, thermal printers, 2D & 1D scanners, tags & labels, sensors, and others. Consumers in the US and UK are ready to pay more for products with food traceability and point-of-origin certificate.