Global IoT and Traceability for Food & Beverage
Manufacturing Market Trend & Growth Rate Report
The Global IoT and Traceability for Food & Beverage Manufacturing Market was valued at USD 5.66
billion in 2019 which is expected to reach USD 10.22 billion by 2027at a CAGR 9.4%.
The IoT and Traceability for Food & Beverage Manufacturing is added value to manufacturers, by
making the proper decision regarding the demand, product visibility, inventory turnover,
forecasting, and sales. Also, IoT, and traceability helps the manufacturers to connect with both
upstream consumers, and downstream suppliers and improving vendor relationship. Traceability is
defined as the information system which is required to track the history of product from the point of
origin to the point of sale via production and shipping processes.
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In the report, Global IoT and Traceability for Food & Beverage Manufacturing
Market has been analyzed through a segmental perspective. The market
segmentation allows a deeper understanding of the market hotspots.
The increase in demand for food safety, product quality along with customer standards which
anticipated to fuelling the global Internet of Things (IoT) and traceability for food & beverage
manufacturing market growth over the forecast period. Furthermore, continuous advancements in
food and beverage industry will positively influence the market growth in near future. These
technologies help to maintain operational efficiency and being compliant with governmental
regulations. Also, they helping companies to achieve high level of food safety, streamlined logistics,
improve traceability via transparent supply chain, and reduce costs and risks across the different
food processing and packaging stages. This is expected to propel the global IoT and traceability for
food and beverage manufacturing market