A new report titled " Food Traceability Market (Tracking Technologies) Global Industry Analysis, Size, Share, Trends, Opportunities and Forecast, 2012 - 2020, by allied market research is published at Bigmarketresearch.com.
As per the market study, the global food traceability market (tracking technologies) is expected to grow at a CAGR of 8.7% during the analysis period, reaching expected revenue of $14.1 billion by 2020. The RFID technology is expected to grow at the highest rate of 19.4% among all technologies of food traceability market. The reason for the high growth rate of RFID is real-time tracking of food items irrespective of weather conditions or location. Accurate read-write ability in complex environment is also a significant advantage of this technology.
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It is estimated that around 3000 people die every year in the U.S. due to food borne diseases, according to the Center of Disease Control and Prevention. This comprehensive market study takes into account various economic factors that are significant in determining the market trends, buying decisions and future course of the market.
Detailed elaboration of drivers, restraints and opportunities in the report will enable strategic decision making with perceptive to identify potential markets. In addition to this, the study also discusses various environmental and regulatory factors critical for the market growth. Thus, estimation of market numbers, with due consideration to all these factors has helped in enhancing the scope of the report. This analysis will support stakeholders such as manufacturers in food recall process to reduce the associated cost. Historical data is provided for 2012 whereas forecast is available through 2020 in terms of revenue ($million) for every market segment.
Food traceability is becoming a norm for all food producers across the globe as a result of consumer demands and government regulations concerning food safety. Early adoption of food tracking technologies in developed nations such as the U.S., Japan and Australia has led to good market revenues. However, globalization of the food market has increased the importance of a traceability system even in developing nations and therein lays the opportunities for food traceability suppliers to enhance their market position.
Key Findings: Food Tracking and Traceability Technologies Market Study
Global Food Traceability (Tracking Technologies) Application Market
Global Food Traceability Market (Tracking Technologies)
GLOBAL FOOD tracking and traceability technologies EQUIPMENT MARKET
GLOBAL FOOD tracking and traceability technologies END-USER MARKET
GLOBAL FOOD tracking and traceability technologies GEOGRAPHIC ANALYSIS
CORPORATE PROFILES AND ANALYSIS
Food Traceability Market (Tracking Technologies) Global Industry Analysis, Size, Share, Trends, Opportunities and Forecast, 2012 2020
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