Demand for high quality fresh foods has increased dramatically among China’s middle class as health and fitness increasingly takes centre stage as a focus in society. This shift in food-related consumption habits — ranging from high-end goods to nutrient-supplementing essentials — is giving rise to a ballooning healthy foods market in China.
According to an iiMedia Research report, total health food sales in China grew 12.4% year on year to about RMB 250.3 billion in 2020, and is expected to reach RMB270.8 billion in 2021. With total sales of health foods continuing to grow, the market outlook remains rosy for many years ahead.
With such a colossal market to serve, this trend has made China one of the most viable places for technical innovations surrounding healthy foods to sprout. RECIPE, seizing the immense opportunity, is rising like a shooting star in this booming market, reaching multi-million dollar revenue after launching this year, in March 2021.
As a player with a keen advantage, RECIPE decided to drive its advantage further still, teaming up with VeChain to enhance its competitiveness even further, providing transparency and oversight about the qualities and nutritional facts of its products using VeChain’s off-the-shelf ‘Food Safety SaaS Service’ built on VeChainThor. This blockchain-based service suite provides brand new interactives for brands to feature and share with consumers, allowing the visualization of efforts in delivering nutritious, versatile, and ultimately, delicious products.
From the initial stage of product development, RECIPE’s nutrition teams, specialized in Chinese dietary habits, researched and developed carb-clever menus that strictly control nutrition ratios and strike the balance between nutritional content and Chinese-favored tastes. All products are based on original recipes, ensuring food have sufficient amounts of high quality proteins and high quality carbohydrates, as well as dietary fibre, minerals, vitamins and other beneficial elements
VeChain’s real world ready commercial-grade ‘Food Safety SaaS Service’ enabled RECIPE to develop a new product language and share its story directly with the customers. It takes as little as 1 to 3 weeks for the brand to finish developing technical settings using our platform and can begin reaping benefits immediately.
By using this service, RECIPE can easily upload their material sources, nutrition facts and relevant certificates to the blockchain platform while defining their own product and landing page. By logging relevant information, the service becomes a medium that creates trust and provides RECIPE a significant advantage in an economy that increasingly demands transparency in data.
Though much discussion in the realm of blockchain revolves around the concept of trust, accessible tools as means to enhance brand trust are still rare in the market. VeChain has examined the opportunities of supply chain management and traceability and delivered the industry-standard Blockchain Food Safety SaaS Platform to the market. VeChain continues to hold a significant lead and advantage in operating commercially in the real world, in part thanks to key channel partners as well as a suite of incredibly innovative and potent technologies developed in-house.
Powered by VeChain ToolChain™, our SaaS tools make food traceability even easier, with various traceability functions that have been effectively verified, including origin traceability, cross-border traceability, full-process traceability, and more. The deployable blockchain-enabled tool of VeChain is ready for any brand to compete in any nascent segment.
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