Global Demand Drives Revenue and Attracts
Global ESG Partnerships to TraceGains Gather® Networked
Supply Chain Ecosystem
WESTMINSTER, Colo., July 24,
2024 /PRNewswire/ -- TraceGains, the global
leader in networked compliance, quality, and innovation solutions
for the food and beverage industry, today announced a strong
first-half performance in 2024. Actively engaging food and beverage
suppliers on TraceGains' global network has driven significant
growth in users, supplier locations, and revenue, with
international bookings surging over 50% year-over-year from notable
client acquisitions in Europe.
This impressive client growth, nearly surpassing all of 2023,
includes several new customers such as 180 Snacks, Bariatrix,
iSpice Foods, Jeni's Splendid, and Sweet Candy.
"Brands are capitalizing on our powerful TraceGains
Gather® network, and the result is a record number of
contracts signed year to date," says Gary
Nowacki, CEO and Co-Founder of TraceGains. "We've reached a
critical mass with demonstrated 'network effects' where our value
proposition multiplies as more companies join our ecosystem. We've
designed the world's only networked supply chain ecosystem for food
and CPG, and this increasing demand underscores the unparalleled
value and efficiency it delivers."
Central to TraceGains' remarkable growth is its dynamic
networked ecosystem, where buyers and suppliers seamlessly
interact. User expansion aligns with robust bookings, with supplier
locations surpassing 83,000 worldwide, and growing at an impressive
30% annually. TraceGains Gather® is witnessing
exponential growth, with over 900 new companies joining each month.
Weekly active users on TraceGains Gather® have surged by
120% in the past two years, coinciding with a 164% increase in
marketplace ingredient searches. This powerful network not only
drives customer acquisition but also generates valuable business
leads for registered suppliers, who now manage over 550,000
ingredients, growing 20% annually.
"TraceGains is now in the unique position of offering exciting
opportunities to enhance what compliance, product development, and
supplier intelligence solutions mean in today's landscape,
including the ability to deliver practical and integrated global
ESG solutions today," Nowacki continued.
Amid global supply chain disruptions, TraceGains stands out as
the premier platform for buyers, sellers, and third-party partners
aiming to expand and leverage unique market synergies. This year,
TraceGains unveiled integrated ESG solutions in
collaboration with DitchCarbon, Sedex, and Sustained, with
more innovations with HowGood launching this fall. These
partnerships utilize AI and a proven method to seamlessly expose,
integrate, and map critical ingredient and supplier location data
directly against a brand's supply chain. Instead of expensive
customer projects that only deal with a slice of a CPG company's
supply chain, ESG from TraceGains assembles all the puzzle pieces
into a holistic and affordable solution.
With award-winning solutions tailored for the Food &
Beverage industry, rapid international expansion, a surge of new
clients and new client bookings, TraceGains is poised for an
exceptional second half of 2024.
About TraceGains
TraceGains is revolutionizing the
food and beverage industry with advanced and integrated digital
solutions for compliance, nutritional calculation and labeling, and
new product development (NPD). Trusted by over 1,300 global
clients, including half of the top 100 food and beverage
manufacturers, the TraceGains network connects brands via a vast
ecosystem of 83,000 supplier locations, along with a comprehensive
database of 550,000 ingredients and products. Enriched with global
horizon scanning and Environmental, Social and Governance (ESG)
information, TraceGains automates processes and insights to
navigate the inherent complexities of the global food and beverage
industry.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/tracegains-strong-first-half-performance-in-2024-paves-the-way-for-another-excellent-year-for-the-networked-supply-chain-leader-in-food--beverage-302200996.html
SOURCE TraceGains