The global food traceability market size reached $4.54 Billion in 2020 and is expected to rise to $9.75 billion by 2028, according to the latest analysis by Emergen Research.

This growth in revenue is expected to be driven by rising demand for food traceability systems to identify necessary documentation and tracking for each stage of food processing. Increase in demand for important tools in the agri-food sector represents a very useful tool for analysing, monitoring and managing the flow of products.

Food safety concerns have become critical in some countries, especially those with lack of standards, regulations, and stringent stipulations governing quality and safety of food and edible products in recent years. This has provided many food producers and operators, and even distributors, some extent of leniency in some countries with regard to following specific norms along the supply chain.