Adoption of food traceability technologies driven by government legislation and increased pressure from retailers
Food Traceability Technologies Market 2014-2024 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-19 00:11:04
Increasing government support for the implementation of traceability systems is forecast to drive further growth in the food traceability market. In 2014, the World food traceability technologies market is estimated to be worth US$10.59 billion. Retailers are being placed under greater pressue to understand exactly where their food is sourced from and this has been demanded by consumers following a number of food scandals over recent years. Complex and long supply chains for food in addition to the pressure to source profit in an already tight and competitive supply chain model forced some short-cuts by suppliers to be made in less legislative controlled markets. As a result of recent scandals, retailers are now being placed under pressure to understand where their food is being sourced and to ensure quality products are being supplied to their customers. This added pressure has in turn, placed increased pressure on suppliers to provide customers and retailers with full traceability information.Increasing government support for traceability initiatives in key regions of the market will fuel further growth over the next few years. In addition, the increasing adoption of data automated processes and technologies will drive growth and the adoption of technologies to enable suppliers and retailers to trace fully the source of their food throughout the supply chain.Leading companies operating in the food traceability market are: Advanced Traceability Solutions; AFS Technologies; Airclic; Bar Code Integrators, Inc; FoodLink; FoodLogiQ; HarvesterGear Inc; Industrial Technology Systems; Lotpath, Inc; Markem-Imaje; Omron Group; ProWare Services; SoftTrace; ToolWorx; YottaMark; Zebra Technologies; Matthews Marking Systems; N2N Global; Checkpoint Systems; DayMark Safety SystemsCurrently within the food supply chain the majority of companies are still "paper-based" and this is represents a major restriction on the effectiveness of traceability systems. A significant level of data is required to be managed to effectively trace food throughout the supply chain and the growing trend towards automation of data collection, data search and data reporting will provide the tools for the implementation of effective solutions for tracing food.Companies on the whole are focused on the need for full traceability and are actually implementing proper HACCP traceability systems. The added paperwork and investment required to implement full traceability is placing additional cost pressures for suppliers in a supply chain where profit margins are already tight.
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