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Food Traceability Market to Hit $26 1 billion by 2025
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Food Traceability Market to Hit $26 1 billion by 2025
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Food Traceability Market Worth $26 1 Billion by 2025
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(Technology & Software) by Technology Type (RFID, Barcodes, Infrared, Biometrics, GPS), Software Type (ERP, LIMS, Warehouse), Software End User, Technology Application and Region - Global Forecast to 2025 , published by MarketsandMarkets™, the global Food Traceability Market size is estimated to be valued at USD 16.8 billion in 2020. It is projected to reach USD 26.1 billion by 2025, recording a CAGR of 9.1%, in terms of value. There is an increase in the demand of tracking the safety and concern about food and beverages, which is driving the market.
The food manufacturing technology application segment is projected to witness significant growth during the forecast period.
Food traceability software not only proves to be beneficial for end-use consumers but also to all the stakeholders along the food supply chain right from the growers to the end product distributors. The most well-known collaboration project about traceability so far is between Walmart and IBM. A surge and shi