SEAFOOD SUPPLY CHAIN BLOCKCHAIN
Let us explore the potential worth of blockchain in the seafood production phases.
Among the various food items that have been traded today, seafood (fish varieties) occupies a significant place. Actually, the seafood is the one among those crucial global trading commodities available as of now in the food industry.
Specifically speaking, the seafood industry also is one of the largest industries in the world constituting livelihood rate of around 12%. It operates with an annual export profit return of around 150 billion US Dollars, together with a consumption growth rate of around 90% in value.
All kinds of seafood items undergo a lot of processing and packaging formats/stages during their production cycles, as they are transferred to a variety of intermediary parties until reaching the destined production release point.
Seafood supply chains usually start with the producers and terminate with the consumers or end users or buyers. Here, the fishers are termed as the producers and the retail outlets are termed as the end users or buyers.
Thus the seafood items need to move and travel a lot of miles to get done with a wholly developed user-friendly product in the market. This is why the seafood supply chains look complex and a bit difficult to manage.
But with the enhanced evolution of latest technological trends and advancements, it has been made possible right now with the amazing blockchain technologies that possess the ability to transform or reshape the entire seafood supply chains with improved traits.
Inherent potential of blockchain in seafood industry:
The following are some of the prime advantages that blockchain can bring in the seafood supply chains:
- Traceability
- Transparency
- Sustainability
- Improved trade
- Operational and value chain efficiency
- Transformational ability
- Ethical production
- Consumer trust
- Integrity
- Quality assurance
- Brand risk reduction
- Improved regulatory compliance
By providing all these above mentioned aspects, blockchain makes the market exclude or push all the illegal products and producers out of the supply chain in no time. It also makes us encourage and reward the valuable producers who engage themselves in the industry leading practices for better production.
The wide range of complexities associated with the seafood supply chain management make us impossible to track and trace the exact information/data relevant to the product revolving in the supply chain, right from its origin to the ultimate user destination.
This in turn allows some of the supply chain intermediary participants to make some unethical exploitation without subjecting to the legal standards.
A study suggests that through IUU fishing itself, a value of around 23 billion US dollars have been lost in the global fisheries production rate.
Also, a recent report revealed that in the last 5 years, a lot of violations and un-regulated activities have happened in the variety of fisheries operating across the Globe. Hence it is mandate that the seafood supply chain issues need to be solved immediately with utmost attention and we all should confirm our presence in keeping off all these concerns with special care.
Hence it is now the perfect time for the seafood industry to embrace a digital revolutionary technology like blockchain in its product supply chain handling to avoid reluctances influencing the sector.
Thus, the blockchain powered ecosystems have now been gradually emerging to overcome the production related issues in no time.
Blockchain based seafood traceability has now been acting as a one-stop custom solution that helps address the following challenges that the seafood supply chain industry has been facing now:
- IUU fishing and
- Intrusion of unethical or illegal seafood products
Conclusion:
Thus, blockchain implementation in the seafood supply chains serves as the best cum proven sustainability practice in today’s food industry. Of course, it is better to use this technological advancement to help improve the production rates of the entire supply chain cycle of seafood products with on concerns.
Several food production entities across the World has already designed and developed their own blockchain supported electronic traceability systems to capture key information at various spots in the product supply chain.
Do you look for one such high-end ecosystem that can support blockchain seafood traceability?
Do you want to take part in re-modeling the seafood supply chains by warding off all the scams?
Do you wish to track the best seafood blockchain development service provider in the industry?
Prefer Tracefood.
Apart from blockchain development, it would also help your supply chain stakeholders share data/information right from the spot of harvest to the spot of final consumption with ease.
Aquaculture is one of the most money yielding business of all times.
Just imagine the opportunities that are diluted in the water bodies which hold about two thirds of the earth’s space.
There are millions of people who are depending on seafood farming for their livelihood.
Here Seafood supplychain blockchain stands as a gate opener to build the trust in your food product.Tracefood under the guidance of skilled developers provides exclusive Seafood supplychain blockchain services to enhance the capital of your enterprise.
But when the food package is exported, as a consumer it is difficult for us to find out where the product has originated.
Blockchain for seafood stores the immutable data about the place the food has been fished, to the processing that has taken place.
Take technology towards the yield of better fishing returns in shrimp supply chains!The central idea of this post is to help supply chain stakeholders in taking a flare decision whether it is right to adopt the blockchain technology or not.The chief intention behind the inducement of blockchain into the food supply chains is nothing but making a difference.Come, let us discuss on the same.The substantially increasing volume (tonnes) of shrimp production and export, together with its constructive use-cases have made it essential for us to concentrate more on the shrimp supply chain management.Being a value-rich industry, seafood is highly exposed to a variety of risks that no technology (other than blockchain) can solve completely from their base.Today, a majority of the supply chain decision makers experience a tough time handling such multitude of challenges underlying in the production and supply phases.Though a lot of technological enthusiasts have been making many attempts to bring a proper solution for addressing the challenges threatening the shrimp supply chain industry, no considerable change has been brought as of now.To aid supply chains come out with an impeccable solution that can transform all their challenges into the stepping stones for success, we herewith wish to introduce an outrageous technology called blockchain.Over the recent past, blockchain has proved its immense potential in solving the most-pressing supply chain issues efficiently by being a key data-driven approach.Reliable data/information can always help businesses optimize their superior decisions in such a way to reach the global standards with no concerns.By the way, the shrimp farmers all across the Globe have found blockchain as a beneficial technology for their domain and so that they have started to accept and utilize it gradually in their fishing operations to meet their business needs and demands.Blockchain seafood traceability:Blockchain makes it possible to perform audits on each and every transaction that is done within a complex supply chain system.
Thus blockchain adoption makes us enjoy end-to-end traceability solution in the food supply chain sector.Besides traceability, the seafood industry is very much vulnerable to another major problem called fraudulence.
And that too can be eliminated by proposing effective blockchain solutions in the supply chain cycles.Seafood supplychain Blockchain evolving as a technology that boosts up the confidence level of shrimp consumers:Thus as a whole, the lack of the factors like traceability, transparency, fraudulence and safety can be renewed with blockchain technologies in the food supply chain sector for sure.
This would in turn ultimately help us build an enhanced level of trust among the seafood consumers.If we take any business sector particularly the seafood production and management, trust is one of the prime factors that decide the profit throughput ranges.
Its absence will result in the decreasing interest in the associated product purchases.So, let us explore blockchain much more to make the entire seafood industry worthwhile and acquire prominent gains with no deviations.Are you in the lookout for the best seafood blockchain development firm, Tracefood would serve as a better choice for you to make all your dreams happen in no time at affordable pricings.
Make use of its limitless advantages with respect to the creation of unique blockchain for seafood.Source: Seafood In Blockchain
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the seafood packaging market include Robert Mann Packaging Inc., Seafood Packaging Inc., Covertech Flexible Packaging Inc., International Packaging, Plastic Ingenuity Inc., Golden Eagle Extrusions, Inc., RM Converters Private Limited.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Seafood Packaging Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/seafood-packaging-market/download-sampleMarket DynamicsThe market is predominantly driven by growing disposable income in developing regions such as China, India, and Indonesia.
Growing exports of cheaper farmed fish from emerging markets like China, India, Indonesia, Taiwan are contributing a lot to the growth of the global seafood packaging market.
The difficulty is seafood should be preserved fresh and damage-free till reaching the consumer.
However, the increasing scope of regulations, growing demand for traceability, convenience, and transparency are also a restraint for the growth of the seafood packaging market.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
