As the Chinese pet food industry grows from 1 billion USD and projected to grow to 1.4 billion by 2026 companies such as Vechain Blockchain is entering the market. Vechain has announced it is launching its blockchain traceability technology for the pet food ingredients in a trusted manner.
VeChain, the world’s leading public blockchain provider aims to revolutionize pet food traceability, safety and marketing by providing multiple layers of benefits through its full services across the entire lifecycle of the supply chain.
The Lifecycle of supplychain
The Lifecycle of the supplychain of pet food utilizing blockchain starts with the proof of origin, proof of ingredientsnd traceability.
Proof Of Origin: Uploading the source of pet food and import certificate on the blockchain to ensure the integrity of the product and presenting it to the customers through digital marketing, making product claims like “imported salmon” and “American original” far more convincing than before.
Proof Of Ingredients: Blockchain can validate the usage of high-quality ingredients in products. For example, companies focusing on healthy and organic foods can show off their ingredients used and manufacturing process in a transparent manner. It can also prove the manufacturer’s quality claims, such as sustainability efforts and membership of AAFCO.
Traceability Of Entire Value Chain: Blockchain connects the supply chain and traces the source of each ingredient, behavior of the people involved during the entire process, and more. As a result, blockchain can not only increase efficiency of a company’s internal supply chain, but also potentially prevent damages to a company’s reputation during recalls, as increased traceability data enable companies and authorities to quickly track and trace problematic batches of products, significantly increasing consumer trust and safety.
New Marketing Tool In Chinese Market: Data On the Blockchain
In a growing market like China, there is both a regulatory push and consumer interest in knowing more about the pet food manufacturing process, including the ingredients used and whether they were imported. Data stored on the blockchain provides another marketing pitch.
With blockchain technology, pet owners can trust ingredient listings are accurate because pet food recipes and the ingredients used have been stored on the blockchain. Already, VeChain has engaged with multiple companies in the pet food industry, and many of them have expressed interest in blockchain technology to solve the aforementioned problems and pain points.
By leveraging the data visualization module of VeChain ToolChainTM, business owners can easily access the benefits of blockchain and implement blockchain in a lead time as short as a few days or weeks. The market-ready product is able to be integrated in established SCM and CRM systems, and can efficiently improve the efficiency, traceability, and transparency of supply chains while lowering costs and giving individual users greater control. It is a win-win solution for the entire industry for both manufacturers and consumers.