Home > > Global Food Traceability Market Report
The Food Traceability market was valued at $15,291.9 Million in 2022, and is projected to reach $30,195.8 Million by 2032 growing at a CAGR of 7.10% from 2023 to 2032.Food traceability is the ability to track food products through all stages of production, processing, and distribution. There are several drivers that are contributing to the growth of the food traceability market. These include increasing concerns about food safety, the need for supply chain transparency, and the demand for traceability solutions from consumers and regulatory bodies. There are several key trends that are shaping the food traceability market. These include the increasing adoption of blockchain technology for traceability purposes, the use of IoT (Internet of Things) devices and sensors for real-time tracking, and the development of mobile traceability apps that allow consumers to easily access information about the products they are purchasing. There are several major companies that are active in the food traceability market, including IBM, SAP, and GS1. These companies offer a range of traceability solutions, including traceability software, traceability systems, and traceability services. IBM, for example, has developed a food traceability platform based on blockchain technology, which allows companies to track food products from farm to fork. The platform is being used by major food companies such as Walmart and Nestle to improve supply chain transparency and increase efficiency. SAP is another major player in the food traceability market, with a focus on providing traceability solutions for the food and beverage industry. The company offers a range of traceability software and services, including SAP EHS Management, which helps companies manage food safety risks, and SAP Food Safety, which provides traceability and compliance management for the food industry. GS1 is a global organization that provides traceability solutions for a range of industries, including the food industry. The company offers a range of traceability services, including GS1 Traceability, which allows companies to track and trace products throughout the supply chain, and GS1 Source, which provides traceability for agricultural products. Overall, the food traceability market is expected to continue growing in the coming years, driven by increasing concerns about food safety and the demand for traceability solutions from consumers and regulatory bodies.