Food traceability is increasingly essential to ensuring food safety, supply-chain transparency, and consumer confidence in a global food system that continues to grow in size and complexity. This paper reviews the current status of food traceability, including its historical development, regulatory frameworks, data standards, and enabling technologies, and explains key concepts such as Critical Tracking Events (CTEs) and Key Data Elements (KDEs). It also examines the benefits and costs of traceability systems, the roles of stakeholders across the supply chain, and emerging tools such as digitization, blockchain, and advanced analytics that are reshaping how food is tracked and traced. Finally, the paper discusses ongoing challenges—including interoperability, data sharing, and harmonization of international standards—and outlines future opportunities to build more efficient, transparent, and resilient food systems worldwide.