North America Track & Trace In Food & Beverage Market Forecast 2022-2030

North America Track & Trace In Food & Beverage Market Forecast 2022-2030

KEY FINDINGS

The North America track & trace in food & beverage market is predicted to rise with a CAGR of 19.55% during the forecasted period of 2022 to 2030. Key factors like continuous industrialization of the food system, consumer awareness about food products, and the rising need for quality food are set to facilitate the market growth of the region.

MARKET INSIGHTS

The North America track & trace in food & beverage market growth assessment encompasses the study of Canada and the United States. The use of track & trace solutions in Canada is largely fuelled by industry standards as well as organizations like GS1, establishing efforts to offer a coordination approach in the country. Moreover, with the widespread economic and social impact of major food recalls, several companies and sectors in Canada are investing in traceability systems for the prevention of future issues associated with tracking food.

Furthermore, these systems enable organizations to minimize the cost of product recalls, thereby sustaining consumer confidence. In addition, the increasing usage of rapid technologies, widespread incidents of foodborne illness, and a rise in food recalls is further set to propagate the demand for track & trace solutions in the food & beverage market. Canadian consumers are also becoming aware of the safety and traceability of food products. As a result, these factors are projected to augment the regional market's growth over the forecast years.

COMPETITIVE INSIGHTS

The top companies operating in the market are Optel Group, CH Robinson, Zebra Technologies Corporation, etc.