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The future of the food industry: how blockchain traceability is changing the game.

Changing consumer food habits

The food habits of people have undergone a sea change due to the aftermath of the Covid-19 pandemic and greater concern towards sustainability standards. It is no longer a matter of price, taste, and convenience, but the driving force behind this metamorphosis is health and nutritional standards. Food innovation has accelerated at a previously unheard-of rate over the past two years, largely due to the global pandemic that has altered consumer food habits. They hope to adapt their culinary skills that endorse health and nutrition at affordable rates. Many are making a progressive change towards adopting food habits that have less environmental impact, such as shunning dairy and meat products, and a blockchain traceability system can take you through a journey to its roots.

The current state of the meat industry

Throughout much of human history, meat has been and still is the primary component of most meals in wealthy nations. However, Covid-19 is changing almost everything, and consumers are demanding high-quality food that is less damaging to the body. There is an unprecedented rise in alternative food choices, such as plant-based meat, which are slowly disrupting the meat market as they seem to get a toehold in developed markets. According to Statista, global consumption of meat alternatives increased by roughly 100 million kilos to 470 million kg in 2020. 

The future of plant-based meats & how they are disrupting the current market

According to a recent report by NSF, over 50% of households now regularly eat plant-based meat or fish. By 2020, the market for plant-based foods will be worth $35.6 billion USD, and by 2026, greater growth of 10.4% is anticipated.

New-wave meat substitutes, based on plant proteins and with significant financial backing, are beginning to gain commercial traction and may pose a severe threat. With a significant backing using blockchain food traceability system, you can safeguard the authenticity of product ingredients.

Because of their apparent environmental credentials, considerably enhanced taste, and “mouth feel” comparable to meat, they may have a bright future and pose a serious threat to real meats. The genesis of all food is in its ingredients, and with an end-to-end traceability system, you can be well-informed about product sources.

Need to implement changes in the food industry

Consumers are reportedly eager to spend more money on products with outstanding environmental credentials, according to new research. Regardless of the scientific basis for its use, consumers universally desire safer meat from supply chains that uphold integrity. They also strongly prefer to purchase meat devoid of chemicals like antibiotics and hormones. Understanding consumer values related to meat and matching industry values to these is the first step in establishing customer trust. This makes way for ESG compliance management. With plenty of potential and difficulties in the meat sector, the future of our global meat industry is bright, and rest assured, its roots are safeguarded through blockchain food traceability.

Due to the greater diversity of foods available now, such as lab-grown meat, GMO foods, and bio simulation of animal proteins, consumers are wary of the origin of these food products, and the need for transparency has become more important than ever.

Chances and opportunities in the meat sector with traceability

The meat business needs to turn to reliable suppliers who can vouch for the provenance and calibre of the animal feed they are giving them. The primary motivators of customers are now paying more attention to product features, including production location and method, provenance and backstory, support of the local economy, worker and animal welfare, environmental effect, and general sustainability. In this way, the meat Industry can become more transparent and competitive with traceability as an ESG management tool.

How traceability is impacting the future of food?

Traceability-enabled food products are on the rise even though they are provided at a premium price. The secret to food traceability is understanding the need for and value of traceability to the various users of information, be they the organisation, the consumer, or a governing body. This will help you build trust and give you an advantage over rivals and eventually lead the road to ESG compliance management.

Our top aim at CIED group is to develop the solutions that are most important to you and your company. You may concentrate on taking action by letting us handle the origin of product sources.

Join us in our mission to enhance sustainable production standards through ESG-specialised traceability suite.
Are you interested in learning more about how an ESG-specialised traceability suite will benefit your business? Talk to our in-house expert and get a free consultation.

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