In the last few years, global corporations have begun to recognize the increasing importance of traceability and transparency in their agriculture supply chains. Fast-moving consumer goods giant Unilever, for instance, has revised its sustainable sourcing program and pledged to ensure 100% sustainable sourcing of its key crops.
Other giants in the food production space such as Coca-Cola and Nestle have also committed to creating systemic change in the agricultural supply chain by prioritizing sustainable sourcing and enabling traceability.
Recent research has shown that the global food traceability market is estimated to reach USD 45.29 billion by 2031. One of the major drivers for market growth will be the tightening of global supply chains by governments—a move to improve long-term environmental health and eliminate forced labor across the global supply chain.
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