Trade in Agri-food and commodities are known to see continue increase and changes in the trading environment of Food safety which has become a growing concern for citizens of many countries. Food Traceability risk-management tool enables food business operators or authorities to respond to need on improving the ability on implementing verifiable safety and quality compliance access. It allows food businesses to aim the product altered by a food safety problem, informing disruption to trade and any potential public health risks. It is crucial for all food businesses (including retailers and importers) to be able to analyse products.
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The Global Food Traceability Market is accounted for $11.25 billion in 2017 and is expected to reach $20.95 billion by 2026 growing at a CAGR of 7.15% during the forecast period. Across the globe, Usage of traceability tool on food have had become a common method for food & beverages industry before releasing their product into the market. Prototype testing is followed in order to reduce the risk and increase their market share. The traceability of food products is becoming ever more important as globalization extends to increase the complexity of food chains. Hence, there are ample opportunities for the organizations that are willing to start food business.
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Moreover, Undoubtedly, Asian consumers in future would be more conscious of their health & wellness and are demanding information on food freshness, storage & transportation conditions, food additives. Furthermore, start up organizations will have a huge growth if they want to establish their organizations in these regions because reason behind is the confidence in increasing number of food recalls and the growing concerns pertaining to food safety. However, both small scale industries and large scale industries will be benefited on adopting food traceability.
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