Global Packaged Food Traceability Market to grow at a CAGR of over 8% during the period 2016 - 2020; Finds New Report

Report forecast the global packaged food traceability market to grow at a CAGR of over 8% during the period 2016-2020.

Food traceability systems help to track the goods in inventory, reduce costs, and replenish the stock regularly. The devices help and analyze the demand for an item and forecast its sales. Also, traceability systems are used to collect data about the objects and their movements. Losing such information to competitors or hackers due to insecure systems could pose huge losses and security issues. Hence, the traceability systems have to be properly secured to avoid data theft. The market for traceability readers is largely untapped, providing a tremendous opportunity for vendors. Vendors invest in R&D to offer customers unique, secure, and low-cost traceability systems.

The report covers the present scenario and the growth prospects of the global packaged food traceability market for 2016-2020. To calculate the market size, the report considers the revenue generated from radio frequency identification (RFID), barcodes, and other platforms used in traceability systems.

The market is divided into the following segments based on geography:

• Americas
• APAC
• EMEA

According to the report, the global population is expected to increase at a rapid pace in the future, which is expected to increase the demand for food products. Based on statistics, in 2015 the number of people suffering from malnutrition or starvation was about 956 million worldwide. Therefore, because of the increase in the global population and the food wastage, the need for efficient cold chains will increase substantially in the future. Therefore, the increased need to reduce the food wastage is one of the key drivers contributing to the growth of the market.

Further, the report states that data privacy and security concerns are major challenges in any organization as devices are connected to the Internet and they use of private and public networks. As critical data are transferred through IoT networks, a highly secured environment needs to be established. Also, IoT network includes multiple devices, which at times may cause interoperability issues.

Global Packaged Food Traceability Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global packaged food traceability market: Cognex, Datalogic, Honeywell International, Impinj, and Zebra Technologies.

Other Prominent Vendors in the market are: Alien Technology, Avery Dennison, Bar Code Integrators, Carlisle Technology, Merit-Trax Technologies, SATO VICINITY, SMARTRAC, Thinfilm, Tyco, and Denso.

Market driver

• Inefficiencies in supply chain
• For a full, detailed list, view our report

Market challenge

• High costs of implementation
• For a full, detailed list, view our report

Market trend

• Rapid technological advancements and need to upgrade constantly
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Spanning over 71 pages “Global Packaged Food Traceability Market 2016 - 2020” report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by end user, Market segmentation by technology, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

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