Food Tracking Technologies Market Definition
Food tracking technologies is the technology to track any food through any stages of production, processing, and distribution. It enables corrective actions such as a product recall to be implemented quickly and effectively when something goes wrong. When a potential food safety problem is recognized, whether by a food business or a government agency, an effective tracking system can help isolate and inhibit contaminated products from reaching consumers. It allows food businesses to target the products affected by food safety issues, minimizing disruption to trade and any potential public health risks. It is important for all food businesses including retailers as well as importers to be able to trace products.
The market study is broken down, by Application (Warehouse/Pack Farms, Food Retailers, Defense & Security Departments and Others) and major geographies with country level splits.
The market is highly fragmented with the presence of various players in the market. Some of the key strategies followed by the players operating in the market were innovation, product development, acquisition, and expansion. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Food Tracking Technologies market throughout the predicted period.
Bio-Rad Laboratories, Inc. (United States), C.H. Robinson Worldwide, Inc. (United States), Cognex Corporation (United States), Honeywell International, Inc. (United States), SGS SA (Switzerland), Bar Code Integrators, Inc. United States), Carlisle Technology Inc. (Canada), Mass Group Inc. (United States), Merit-Trax Technologies Inc. (Canada) and Picarro Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Zebra Technologies Corporation (Zebra Technologies) (United States), Motorola Solutions, Inc. (United States), International Business Machines Corporation (IBM) (United States), Bureau Veritas Group (France) and Auchan Retail Company (France).
AdvanceMarketAnalytics has segmented the market of Global Food Tracking Technologies market by Type, Application and Region.
On the basis of geography, the market of Food Tracking Technologies has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Equipment, the sub-segment i.e. PDA with GPS will boost the Food Tracking Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. RFID/RTLS will boost the Food Tracking Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Meat & Livestock will boost the Food Tracking Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 28 Nov 2018, Auchan Retail has launched blockchain technology for food traceability internationally., On 24 Sept 2018, Walmart has implemented IBM's blockchain for food traceability. and On 28 Feb 2018, Bureau Veritas has launched Origin, the world’s first traceability label to give consumers a complete end-to-end proof of a product’s journey, from farm to fork
- The Use of Blockchain & IoT in Food Tracking Technologies
- Traces Contamination and Assists Product Recalls
- Certifications and Standardization
- Assist in Competitive Edge and Brand Loyalty
- Information Flow Upstream & Downstream Of Supply Chain
- High Demand for Tracking Technologies in Emerging Economies
- Cost Associated with the Food Tracking Technologies
- Lack of Stringent Laws in Developing Nations
- Varying Needs for Different Products
- Privacy Issues for Data Sharing
- Lack of Tracking Records
- Overlapping and Conflicting Demands
- Weak Technical Systems
Key Target AudienceFood Tracking Companies, Food Importer/Exporter, Food Retailers, Regulatory & Government Bodies, Technology Investors and Downstream Vendors
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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