Metaverse in FnB Market is Expected to Surpass USD 10.45 Billion by 2030 at a CAGR of 32.46% from 2022 to 2030; Immersive Dining Experience, Virtual Ordering, and Delivery Make Metaverse in FnB an Attractive Option
The SkyQuest research on the Metaverse in the FnB market is an excellent guide for anyone looking to learn about this rapidly expanding market. Also, the report’s writing is concise, making it understandable to readers, from business insiders to laypeople. Last but not least, it provides readers with a thorough understanding of the principal and secondary market drivers and provides them with a comprehensive view of the present market condition and future estimates.
Westford USA, March 20, 2023 (GLOBE NEWSWIRE) — The Metaverse in the FnB market is expected to experience significant growth in North America and Asia Pacific regions. Several factors drive this growth, including Immersive dining experience, virtual ordering and delivery, socializing and entertainment, brand building, and marketing. In addition, utilizing the metaverse can provide a solution to sustainability issues that the FnB industry encounters, including the problems of food waste and carbon emissions. Through the use of virtual simulations and testing, businesses can optimize their operations, resulting in the reduction of waste and minimizing their environmental impact.
As per SkyQuest’s latest global research findings, 70% of consumers would be willing to use augmented reality or virtual reality to enhance their dining experience, suggesting potential demand for metaverse experiences in the FnB industry. There is evidence that certain FnB businesses are exploring the potential of metaverse technology. For example, KFC has already established a virtual restaurant in the Roblox gaming platform that enables players to order virtual meals and deliver them to their in-game avatars. Another example is Coca-Cola, which has introduced a virtual reality experience that allows customers to engage with branded content and explore a simulated world.
Browse in-depth TOC on “Metaverse in FnB Market”
- Pages – 249
- Tables – 91
- Figures – 67
In the present day, the FnB industry is recognizing the growing significance of the metaverse as it presents novel prospects to enhance customer experience, improve efficiency, promote innovation and differentiation, increase accessibility, and tackle sustainability issues. Businesses can utilize metaverse technology to optimize their operations, appeal to a broader audience, and establish a unique identity among competitors, making it an indispensable asset in the industry’s current competitive landscape.
Prominent Players in Metaverse in FnB Market
- Coca-Cola
- PepsiCo
- Starbucks
- McDonald’s
- KFC
- Pizza Hut
- Subway
- Dunkin’ Donuts
- Domino’s Pizza
- Burger King
- Wendy’s
- Chipotle Mexican Grill
- Taco Bell
- Nestle
- Kraft Foods
- General Mills
- Kellogg’s
- Mars Inc.
- Hershey’s
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Immersive High-End Dining Experiences Segment to Drive Higher Sales as It can Attract the Luxury Consumers
As per a recent analysis, the Metaverse’s rapid growth in the food and beverage market has been significantly driven by the emergence of the Immersive High-End Dining Experiences segment in 2021. This trend is expected to continue between 2022 to 2030, with this segment continuing to dominate the market. These virtual experiences can offer a distinct and exclusive ambiance that caters to customers seeking a luxurious dining experience. Such experiences can showcase top-notch graphics and realistic simulations that allow patrons to immerse themselves completely in a virtual restaurant setting. Businesses that offer these virtual experiences can set themselves apart from their competition and potentially draw in customers willing to pay a premium for an exceptional and unforgettable dining experience.
Research analysis shows North America will likely become a significant player in the Metaverse for the food and beverage industry from 2022 to 2030. This dominance can be attributed to the region’s high technological development and digital infrastructure, which have facilitated the growth and adoption of virtual platforms like the metaverse. The significant increase in sales suggests a positive outlook for North America’s market in this area.
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Younger Target Audience Segment to Exhibit Strong Growth due to the More Gamified Version of Metaverse in the Food and Beverage Industry.
According to a recent analysis, the Younger Target Audience segment emerged as the dominant user group in the Metaverse’s food and beverage market in 2021, and it is projected to maintain its lead from 2022 to 2030. As the metaverse continues to evolve, it may become more gamified, and this could result in gamers becoming a significant target audience for the food and beverage industry. Gamers are known to spend a considerable amount of time in virtual worlds, and the convenience of being able to order food and drinks without leaving the game may be an attractive proposition for them. SkyQuest has reported that 61% of consumers are interested in using virtual reality to experience products.
The Asia Pacific region became a significant force in the Metaverse in the FnB market and is expected to maintain its leading position by 2030. The Asia Pacific region has a large and rapidly growing population and a high level of technology adoption, making it an attractive market for virtual platforms like the metaverse. The region has witnessed significant internet and mobile phone penetration growth, creating opportunities for virtual experiences and digital economies.
A recent comprehensive report on the Metaverse in the food and beverage market has analyzed the major players in the industry. The report covers various aspects such as collaborations, mergers, innovative business policies, and strategies, providing valuable insights into the key trends and breakthroughs in the market. In addition, the report examines the market share of the top segments and provides a detailed geographic analysis. Finally, the report highlights the major players in the industry and their efforts to develop innovative solutions to meet the demand in the market.
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Key Developments in Metaverse in FnB Market
- Burger King introduced the “Keep It Real Meals” promotion, which involved connecting QR codes to their lunch boxes. This campaign aimed to provide customers with digital collectibles and bonus NFTs, marking the initial launch of the Keep It Real Meals concept.
- McDonald’s, the well-known fast-food chain, has entered the metaverse with its virtual restaurant concept. The company’s innovative approach to the metaverse brings together both the virtual and physical worlds, enabling customers to order real and virtual items that can be delivered to them.
Key Questions Answered in Metaverse in FnB Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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