USD 250.8 billion
Metaverse in FnB Market Size, Share, Growth Analysis, By Application(Advertisement, increasing consumer engagement, events and corporations), By Technology(Blockchain, Virtual Reality and Augmented Reality, Mixed Reality, Others), By Component(Hardware, software, Services), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2124 |
Region:
Global |
Published Date: February, 2024
Pages:
249
|Tables:
91
|Figures:
67
Metaverse in FnB Market Insights
Metaverse in FnB Market size was valued at USD 250.8 billion in 2019 and is poised to grow from USD 270.36 billion in 2023 to USD 499.9 billion by 2031, at a CAGR of 7.8% during the forecast period (2024-2031)
Metaverse in FnBs are becoming popular since they need to quickly adapt to accelerating digital behaviors. Technological advancement and innovations are part and parcel of the F&B industry. These technological perspectives of food brands need to be changed the way they are engaging with the Consumer. Not only the major industries of food and beverage can make proper impact through web towers. Even Legacy restaurant brands have an opportunity to create unique and compelling digital experiences through Metaverse.
According to a PwC survey, 66% executives reported that their companies are actively engaged in metavers and 82% said that they expect Metavers' plan to be part of their business activities within 3 years. Metaverse also offers huge potential for food and beverages brands to interact with customers in new ways, many executives claim that they can use metaverse to create virtual content for customers to engage. The last year anniversary of Coca Cola was celebrated by them in metaverse by dropping a new digital collectible, of which there are now more than 4000. To establish a metaverse in the food and beverage industry. The industries have to set people and tech priorities, assess risk and engage key stakeholders, use data with care, be relevant, useful and purposeful
US Metaverse in FnB Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
increasing consumer engagement
Fastest Growth
increasing consumer engagement
Growth Rate
7.8% CAGR
Global Metaverse In FnB Market ($ Bn)
Country Share for North America Region (%)
Country Share for Aisa Pacific Region (%)
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Metaverse in FnB Market Segmental Analysis
Global Metaverse in FnB market is segmented on the basis of type/solution, service, organization size, end-use verticals, and region. By application, the market is segmented into advertisement, increasing consumer engagement, events and corporations. By component, the market is segmented into Hardware, Software, Service. By Technology (Blockchain, Virtual Reality and Augmented Reality, Mixed Reality, Others). By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Metaverse in FnB Market Analysis by Component
By component, the global market is divided into many segments such as Hardware, software and services. Hardware segment held the largest global Metaverse in FnB market share due to the wide range of benefits provided in the FnB industry.The firms all across the globe are focused in producing the hardware products which creates better user experience and enable more extended user immersion.This advancement has helped the hardware segment to grow swiftly in food and industry department.To improve the realism of virtual worlds, companies are also working to develop more advanced hardware, such as VR/AR headsets, haptic devices, and sensors.
Global Metaverse In FnB Market By Application
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Metaverse in FnB Market Regional Insights
Globally, North America is estimated to hold the highest global Metaverse in FnB market share in the forecasted Period. Main factors during this growth period is the presence of top market players such as NVIDIA Mehta.
Among all the regions, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is the increasing acquisition of Metaverse in FnB technology Along with that increasing number of startups and organizations such as NextMeet ,GuildFi, BollyHeroes EC has helped the metaverse to immerse in the food and beverage industry.
Global Metaverse In FnB Market By Region
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Metaverse in FnB Market Dynamics
Metaverse in FnB Market Drivers
Increase in Immersive Advertisement is Boosting Growth of Global Metaverse in FnB Market
- Food and beverages industry along with several restaurants can create exciting digital experiences and can hopefully prompt users to come and visit restaurants as well as to consume products. Restaurants, bars and cafes can use an impactful and absorbing way of showcasing their menus through various advertisements and allow potential guests to browse images, videos and details about their food, drinks and dining areas which will help to increase their customers. Pinhole F&B businesses can use the metaphors to provide their target customers with totally detailed and accurate tests of what their product is about. And show them what they can expect. These opportunities of immersive advertisement are driving the market.
Metaverse in FnB Market Restraints
Privacy Concerns to Hinder Market Growth
- Along with all the technological advancement and virtual reality there comes a privacy challenge.This privacy and security challenges will restrain the growth of metabolize not only in food and beverage industry.But also in other sectors too because companies will able to monitor the physical reaction by linking to wearable and haptic devices that measure our emotions and physical reactions. Enormous amounts of data could be collected and can be misplaced.
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Metaverse in FnB Market Competitive Landscape
Competition in the global Metaverse in FnB market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices and softwares compatible with Metaverse in FnB will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Metaverse in FnB Market Top Player’s Company Profiles
- Huawei Technologies Co. Ltd.
- Nextech AR Solutions Inc.
- NVIDIA Corporation
- Roblox Corporation
- Shenzhen Zqgame Co., Ltd
- Tencent Holdings
- Unity Technologies
- Antier Solutions
Metaverse in FnB Market Recent Developments
- In February 2022, American fast food giant McDonald’s is planning to make an entry into the metaverse with its virtual restaurant concept. The company’s new idea of metaverse brings both virtual and physical worlds together, where the company is expected to offer both real and virtual items that can be delivered to people as well.The food giant has filed several trademarks, 10 to be exact, at the US Patent and Trademark Office (UPTO) in February that includes both McDonald’s and McCafe.
Metaverse in FnB Key Market Trends
- The rise in metaverse has led to the food and beverage industry to connect with their users through innovative ways from across the globe in a fictional world and hanging out in a virtual world with limitless possibilities.
- The food and beverage companies, which are facing challenges associated with remote working and work from home, can be resolved through creating a virtual meet and managing their employees and communicating with them, reading their body language and maintaining in person engagement.To gain better productivity.
Metaverse in FnB Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Metaverse in FnB market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as immersive advertisement.. Metaverse in FnBs will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 250.8 billion |
| Market size value in 2031 | USD 499.9 billion |
| Growth Rate | 7.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Metaverse in FnB Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Metaverse in FnB Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Metaverse in FnB Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Metaverse in FnB Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Metaverse in FnB Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Metaverse in FnB Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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