PR91139

SHANGHAI, Aug. 13, 2021 /PRNewswire=KYODO JBN/ --

Against the overall market downturn from the global pandemic, China's pet food

industry bucked the trend with notable growth. It was valued at USD 1.082

billion in 2020 (https://c212.net/c/link/?t=0&l=en&o=3258740-1&h=2655484178&u=https%3A%2F%2Fwww.mordorintelligence.com%2Findustry-reports%2Fchina-pet-food-market&a=at+USD+1.082+billion+in+2020), and it is projected to reach USD 1.4749 billion in 2026. Despite the surging

expansion, the pet food market in China is not mature enough.

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Without unified industry standards, in particular food quality standards,

low-quality and counterfeiting pet foods are still prevalent in the market. The

choices of pet foods in the Chinese market have become a tug-of-war between pet

owners, brands, press news and social media. This opens up an opportunity for

problem solvers. Blockchain technology enables accurate traceability of

ingredients, allowing pet food manufacturers to solve biosecurity problems and

quickly bring health concerns about pet food safety under control.

VeChain Technology Confirms Transparency By Traceability

Through immutable provenance technology, blockchain provides proof of pet food

ingredient claims and quality by essentially telling a brand's story in a

trustless manner that is unable to be replicated by any other solution in the

market.

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, including:

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. The company that is able to provide the actual content or

weights of individual ingredients will be establishing a higher degree of

goodwill and reputation by proving that their products are truly nutritionally

balanced, safe, and environmentally conscious for their pets.

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 ToolChain(TM), 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.

About VeChain

Launched in 2015, VeChain Technology is a global leading enterprise-friendly

blockchain company which aims to connect blockchain technology to the real

world by providing enterprises with blockchain-enabled solutions suited to

their business needs. It offers VeChain ToolChain(TM), a low-code

blockchain-based SaaS platform that allows enterprise clients to rapidly build

and drive digital transformation on a global scale, enabling the evolution of a

trust-free and a distributed ecosystem. VeChain Technology is a pioneer of

real-world blockchain applications, with international offices in China,

Singapore, Luxembourg, Japan, France, Italy and the United States. With strong

independent development capabilities, combined with the professional compliance

guidance of our strategic partners, PwC and DNV, VeChain has established

partnerships with many leading enterprises in various industries, including

Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH,

D.I.G, ASI Group etc. Website: www.vechain.com

SOURCE  VeChain

CONTACT: News contact: press@vechain.com, Business contact: bd@vechain.com