Key Findings
The Asia-Pacific track & trace in food & beverage market is set to progress with a CAGR of 21.96% over the estimated years of 2022 to 2030. The market growth of the region is reinforced by the increasing demand for food safety and food product details, as well as the rising adoption of food traceability solutions among food manufacturers and retailers.

Market Insights
The Asia-Pacific track & trace in food & beverage market growth evaluation comprises the assessment of Australia & New Zealand, Thailand, Vietnam, Indonesia, South Korea, Japan, India, China, and Rest of Asia-Pacific. The market growth in India is anticipated to be fuelled by the introduction of government regulations, improved connectivity across the food supply chain, and technological expansion within the food industry. Public food product recalls owing to food safety concerns are relatively rare in India, owing to the progression of branded food products and the increasing capability of the Food Safety and Standards Authority of India (FSSAI).

As a result, the development of new traceability systems is becoming a widely-adopted solution for tackling issues associated with food and product recalls. Furthermore, with the advancement of improved food traceability systems in India, enterprises are developing technologies and software for tracking and tracing systems within the country’s food industry. Hence, the aforementioned factors are evaluated to proliferate the Asia-Pacific track & trace in food & beverage market during the forecasting period.

Competitive Insights
Top players operating in the market entail Siemens AG, HCL Technologies, TraceX Technologies, etc.