Among the essential food industries, the meat and poultry sectors are prominent markets across the world. In 2021, the poultry sector was valued as a $322.55 billion market with an expectation to grow to a $422.97 billion market by 2025 at a CAGR of 7%.
The OECD also stated that global meat protein consumption will increase to 14% by 2030. These statistics show the need for high, premium-quality meat to encourage healthy protein consumption.
Poultry production chiefly involves chicken, beef, pork, and lamb. Majorly, these meats are produced by 5 countries – United States, China, Brazil, Russia, and India, and are then exported to countries across the world.
Blockchain technology aids this industry by supplying fresh foods on time to maintain food safety. Through the blockchain-based poultry value chain, the industry also helps these countries in keeping track of industry expenses and revenue.
Given the recent increase in the meat counterfeiting business, it is unclear whether daily meat consumption is safe. It is challenging to witness the meat production process because it is kept under wraps.
Blockchain technology has proven to be a strong tool to enhance traceability, manage the poultry sector's data on-chain and elevate the trust of the poultry value chain. It enables meat customers around the world to fill their kitchens with premium quality meats.
When the product life cycle of the livestock supply chain is brought under the radar of blockchain, all the data management from the point of livestock birth is recorded and verified on-chain.
As these meats are safely packed and sent to groceries across all parts of the world, the buyers can scan the tag or barcode to find the details of the respective meat and verify if it has gone through all the requisite cleaning and slaughtering processes.
The Hyperledger fabric blockchain has emerged as a ledger that brings in various customizable blockchain resources for all industries. Along with several other industries benefiting, the poultry sector will also become more Blockchain-friendly through ledgers and smart contract implementation.
As an example, the world-renowned food supply chain company Walmart has proposed a transparent food supply chain through the Hyperledger blockchain.
Walmart partnered with IBM and Tsinghua University and proposed a proof-of-concept to track the movement of pork in China through blockchain technology. Following the system's success, they added the ability to track all the groceries.
The American food chain corporation Tyson Foods has had a reputation for handling poultry meat sales for 9 decades. Tyson Foods has now joined the line following companies like Unilever and Nestle to streamline the food and poultry value chain using blockchain technology.
As the brand partners with over 3000 farmers yearly, blockchain helps maintain all the necessary records and ensure quality by bringing food safety on-chain. Furthermore, blockchain is also helpful with fast processing while exporting and importing and enables consumers to cook and consume meats when they are still fresh.
The current CEO of Tyson Foods, Tom Hayes, says, "I think blockchain will have an enormous impact on the food business. Something like tracking packages that used to take weeks now takes seconds." This emphasizes the brand's positive thoughts on blockchain adoption.
In 2018, the French supermarket chain Carrefour, which is ranked as the eighth-largest retailer, became the first food chain in Europe to use blockchain technology to control its supply chain. They enabled customers to verify product details easily via smartphone.
Details such as the harvest date of the livestock, locations, slaughtering plants, related dates, and certifications were encoded as tamper-proof data for users to verify anytime.
CEO Alexandre Bombard expresses that as consumers are now more concerned about the quality of food than ever before, to strengthen and improve sustainability and ensure food safety, Carrefour has implemented a food supply chain through blockchain.
One year after their integration, the chain announced it has five quality lines from other food companies along with three poultry brands.
With big retail names like Walmart, Tyson Foods, and Carrefour coming into the fold of blockchain, it clearly shows the rising need for technology in enhancing the poultry value chain. As people are also becoming conscious of their food intake, technology aids them in premium food consumption.
With the anticipated growth of the poultry sector in the coming years, incorporating blockchain technology to track the value chain shall ensure guaranteed and transparent access to premium quality meats.
