The global internet of things and traceability for food & beverage manufacturing market size was US$ 14.9 billion in 2021. The global internet of things and traceability for the food & beverage manufacturing market is forecast to grow to US$ 29.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.3% during the forecast period from 2022 to 2030.
Food traceability is the process of tracing and monitoring food products as they travel to their final destination. This process uses technology to track the exact location of the food, ensuring that tainted or rejected food is not mixed in with the edible food. There are a range of technologies with varied applications in the internet of things and traceability for the food & beverage manufacturing market that focus on enabling quick and effective corrective procedures if something goes wrong.
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Factors Influencing the Market
Growing cases of food contamination will drive the growth of the internet of things and traceability for the food & beverage manufacturing market during the forecast period. Moreover, commercial food services are gaining substantial traction, which will offer lucrative growth opportunities for the internet of things and traceability for food & beverage manufacturing market.
Rising awareness related to the risk of foodborne infection will also benefit the internet of things and traceability for food & beverage manufacturing market. In addition, stringent regulations by government bodies will emphasize the importance of food safety. Thus, it will be opportunistic for the internet of things and traceability for the food & beverage manufacturing market during the study period. On the contrary, issues related to privacy may limit the growth of the internet of things and traceability for food & beverage manufacturing market during the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has positively affected the internet of things and traceability for food & beverage manufacturing market due to the rising need for safe-to-eat products. The demand for safe and secure food increased as a result of the pandemic. Moreover, it efficiently raised awareness related to health and hygiene, which has been beneficial for the internet of things and traceability for the food & beverage manufacturing market.
Regional Analysis
The Asia-Pacific internet of things and traceability for food & beverage manufacturing market is forecast to record the highest growth rate, owing to the rapidly growing population of the region. In addition, growing consumer spending power and rising demand for high-quality and safe food will benefit the internet of things and traceability for food & beverage manufacturing market during the analysis period. Changing food consumption habits of the population will also benefit this regional market in the coming years.
Competitors in the Market
• C.H. Robinson (US)
• Bio-Rad Laboratories, Inc (US)
• OPTEL GROUP (Canada)
• Cognex (US)
• Honeywell International Inc. (US)
• SGS SA (Switzerland)
• Zebra Technologies (US)
• Bar Code Integrators (US)
• Carlisle (US)
• Merit-Trax (Canada)
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Internet of Things and Traceability for Food & Beverage Manufacturing industry experienced notable growth in its workforce. Starting in January, employment within the Internet of Things and Traceability for Food & Beverage Manufacturing sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Internet of Things and Traceability for Food & Beverage Manufacturing output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Internet of Things and Traceability for Food & Beverage Manufacturing output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Internet of Things and Traceability for Food & Beverage Manufacturing market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Internet of Things and Traceability for Food & Beverage Manufacturing market.
Market Segmentation
The global internet of things and traceability for food & beverage manufacturing market segmentation focuses on Technology, Equipment, and Region.
By Technology
• RFID/RTLS
• GPS
• Barcode
• Infrared
• Biometrics
By Equipment
• PDA with GPS
• Thermal Printers
• 2D & 1D Scanners
• Tags & Labels
• Sensors
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
Table of Contents:
Chapter 1: Introduction to the Global Internet of Things and Traceability for Food & Beverage Manufacturing Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Internet of Things and Traceability for Food & Beverage Manufacturing Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Internet of Things and Traceability for Food & Beverage Manufacturing Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Internet of Things and Traceability for Food & Beverage Manufacturing Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Internet of Things and Traceability for Food & Beverage Manufacturing market revenues, extending projections until 2031. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Internet of Things and Traceability for Food & Beverage Manufacturing market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Internet of Things and Traceability for Food & Beverage Manufacturing business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
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• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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