Consumers today want to know much more about their food. They’re interested in how it’s made, but they also want to know more about how it got from the farm to the factory to the grocery store to their plates. And companies are responding to this need. According to Statista, the global food traceability market is predicted to be worth more than $16 billion by 2022.
Studies show how important traceability and transparency are to consumers, with 75% of them saying they will switch to a brand that provides more in-depth product information, according to Label Insight and the Food Marketing Institute. Companies like SafeTraces are investing in technology to bring extremely specific traceability systems for food and ingredients. And Ripe.io and FlavorWiki have even come together to add a traceability aspect to feedback on how food tastes — allowing clients to know how their products taste throughout production and along the supply chain. Ingredients company Olam invested in technology that provides manufacturers with deep information about where products come from and sustainability practices. Traceability is an important aspect in food safety, as shown by recent recalls of romaine lettuce contaminated with E. coli. And initiatives like SmartLabel from the Consumer Brands Association — previously known as the Grocery Manufacturers Association — give food manufacturers an easy way to provide more information to consumers.
This report details several aspects of the food traceability trend:
- How manufacturers and retailers should respond to consumers’ mounting interest in traceability
- SafeTraces’ unique traceability technology
- How the partnership between Ripe.io and FlavorWiki can help manufacturers produce better products
- What Olam’s traceability technology does for manufacturers and consumers
- How traceability can play a role in produce outbreaks
- Potential of SmartLabel to provide the traceability information consumers want