Global Food traceability market Overview:
Traceability is a technology that allows tracking of a product throughout the supply chain, from raw material suppliers to end consumers. Traceability offers withdrawal or recall of food products whenever required. It allows consumers to be provided with targeted and accurate information concerning implicated products. It is important to the investigation of the causes of food poisoning. Global Food traceability market is estimated be growing at CAGR of 7.1% to reach USD 15.1 billion by 2021. It was worth USD 10.7 billion in 2016.
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Drivers and Restraints:
Global Food traceability market is estimated to grow in forecasted period owing to supporting factors such as increased risk of food poisoning, flexible regulatory policies, increasing food warehouse facilities, and increased demand for food products in the forecasted years. In addition, growing disposable incomes and per capita incomes of emerging economies are indirect drivers of the market. However, risk of product recalls and risk of losses are hindering the market.
Global Food traceability market primarily segmented into Europe, North America, Latin America, Middle East & Africa and Asia Pacific regions. North America region is leading the market. Europe and Asia Pacific regions are estimated to be witnessing significant share in the global market in forecasted years. Asia Pacific region is estimated to grow at higher pace with decent CAGR in forecasted years due to technological advancements and increasing awareness towards food safety in the region.
Key Player of Global Cancer Stem Cells Market:
Leading players actively contributing in the present market include Zebra Technologies, IBM Corp, Bio-Rad Laboratories, MASS Group, Cognex Corporation, Motorola solutions, Inc., Intermec Inc., DuPont Nutrition & Health, C.H. Robinson INC., and Honeywell International Inc.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
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