Global Food Traceability Market (Tracking Technologies) to Reach $14.1 Billion by 2020 - Allied Market Research

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The new market research report titled "Food Traceability Market (Tracking Technologies) Global Industry Analysis, Size, Share, Trends, Opportunities and Forecast, 2012 - 2020" is published today by Allied Market Research. 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.

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 lie the opportunities for food traceability suppliers to enhance their market position.

Get full access of the report at http://www.alliedmarketresearch.com/food-traceability-tracking-market

Installation of food traceability system requires huge upfront investment, which proves to be a restraint for the market, as small players are not ready to make the extra investments. However, growing awareness and technological advancements leading to lesser investments will overcome this restraint, thus reducing impact on the market in the future. One of the segments discussed in the report is the end-users of the market such as food producers, retailers, warehouses, transportation companies, etc. Food manufacturers are expected to generate maximum revenue of $5.4 billion by 2020...
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