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Traceability growing at 9.88 % as demand spirals for safer food supply
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Tuesday, 26 May, 2015, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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A new market research report titled “Global Food Traceability Report 2015-2019,” released by Research Beam indicated that the food traceability segment would register a CAGR of approximately 9.88 per cent through 2014 to 2019.
From farm to a production unit the food manufacturing, supply and distribution procedures are becoming perceptibly globalised, complicated and interdependent. The business regulators, government authorities and consumers are more and more looking at food traceability tools such as RFID (Radio Frequency Identification) technologies to address an array of food safety related challenges. Most of these food traceability initiatives are an outcome of a collaborative partnership comprising private as well as public stakeholders, designed to envisage the threats and fair shake of the global food traceability pursuit.
Few nations to give the nod for an early adoption of these tracking technologies include Australia, the US and Japan, which has added to a significant market share or revenue. The technology enactment life cycle in food traceability segment is now a smooth curve with RFID real-time tracking that works even in severe weather condition irrespective of a geographic location. The RFID technology improves recalls, boosts productivity, reduces shrinkage and its integration with bar codes has become a norm for major food manufacturing enterprises across the world due to the growing demand by the consumers for non-contaminated and safer quality food supply.
The globalisation of food supply and distribution segment has now taken centre stage and even persuaded the developing countries to understand the abundant benefits of the traceability technologies and abundant opportunities for suppliers to strengthen their market position. Major market players like IBM have recently come up with technologies that enable the food manufacturers, retailers and health officials among others to identify the food items that can be easily contaminated. This tracking system by IBM would speed up various investigations of disruption of any kind of food-borne health hazard.
New grants, government support efforts to create an effective technology architecture for food traceability paired with related educational initiatives and communications is expected to notably influence the market growth in the Asia-Pacific region. Furthermore regions including APAC, MEA, Europe, North America and Latin America are busy seamlessly sharing relevant data from an array of sources throughout the global food system. Some key market players such as C H Robinson, Honeywell and DuPont among other prominent vendors provide indoor RFID and outdoor GPS tracking and product locator tools to ensure visibility at a global, regional and in-room level.
The acceptance of food traceability systems across the globe reveals that the pedigree of the food items from farm or processor through suppliers, distributions and retail outlets would promise safety. In addition to the GPS or RFID data, major enterprises are focussing on a smart line of solutions to visually indicate if a label has been put through test of time, humidity as well as temperature abuse.
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