WESTFORD, USA, March 20, 2023 (GLOBE NEWSWIRE) — Significant growth is expected for Metaverse in the FnB market in North America and Asia Pacific. Multiple factors are driving this growth, including immersive dining experiences, virtual ordering and delivery, socializing and entertainment, branding and marketing. In addition, utilizing the metaverse can offer a solution to sustainability issues faced by the FnB industry, including the problems of food waste and carbon emissions. By using virtual simulation and testing, companies can optimize their operations, resulting in reduced waste and minimizing environmental impact.
According to SkyQuest’s latest global research, 70% of consumers would be willing to use augmented reality or virtual reality to enhance their dining experience, indicating potential demand for Metaverse experiences in the FnB industry. There is evidence that certain FnB companies are exploring the potential of Metaverse technology. For example, KFC has already launched a virtual restaurant on gaming platform Roblox, allowing players to order virtual meals and have them delivered to their in-game avatars. Another example is Coca-Cola, which introduced a virtual reality experience that allows customers to interact with branded content and explore a simulated world.
Browse the Metaverse in FnB Market Detailed Table of Contents
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Today, the FnB industry recognizes the growing importance of the metaverse as it offers new perspectives to improve customer experience, improve efficiency, drive innovation and differentiation, improve accessibility and address sustainability issues. Businesses can leverage Metaverse technology to streamline their operations, reach a wider audience, and establish a unique identity among competitors, making it an indispensable advantage in the current industry competitive landscape.
Prominent players in Metaverse in the FnB market
Coca-ColaPepsiCoStarbucksMcDonald’sKFCPizza HutSubwayDunkin’ DonutsDomino’s PizzaBurger KingWendy’sChipotle Mexican GrillTaco BellNestleKraft FoodsGeneral MillsKellogg’sMars Inc.Hershey’s
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High-end immersive dining experience segment to generate higher sales as it can attract the luxury consumers
According to a recent analysis, Metaverse’s rapid growth in the food and beverage market was largely driven by the emergence of the immersive high-end dining experiences segment in 2021. This trend is expected to continue between 2022 and 2030, with this segment continuing to dominate the market. These virtual experiences can offer a distinctive and exclusive ambience that appeals to customers looking for a luxurious dining experience. Such experiences can showcase premium graphics and realistic simulations that allow diners to be fully immersed in a virtual restaurant environment. Businesses offering these virtual experiences can differentiate themselves from their competition and potentially attract customers who are willing to pay a premium for an exceptional and memorable dining experience.
Research analysis shows that North America is likely to become a significant player in the metaverse for the food and beverage industry from 2022 to 2030. This dominance is due to the region’s high level of technological development and digital infrastructure, which has facilitated the growth and adoption of virtual platforms such as the Metaverse. The significant increase in sales suggests positive prospects for the North American market in this area.
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Younger audience segment with strong growth due to the more gamified version of Metaverse in the food and beverage industry.
According to a recent analysis, the younger audience segment has emerged as the dominant user group in the Metaverse’s food and beverage market in 2021 and is expected to retain its leadership from 2022 to 2030. As the Metaverse evolves, it can become more gamified, and this could result in gamers becoming a key audience for the food and beverage industry. Gamers are known to spend a significant amount of time in virtual worlds, and the convenience of being able to order food and drinks without leaving the game can be an attractive proposition for them. SkyQuest has reported that 61% of consumers are interested in using virtual reality to experience products.
Asia Pacific has become a significant force in the metaverse of the FnB market and is expected to maintain its leading position through 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 seen significant growth in internet and mobile phone penetration, 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. Covering various aspects such as collaborations, mergers, innovative business policies and strategies, the report provides valuable insights into the major trends and breakthroughs in the market. In addition, the report examines the market share of the top segments and provides a detailed geographical analysis. Finally, the report highlights the major industry players and their efforts to create innovative solutions to meet the demand in the market.
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Key developments in Metaverse in the FnB market
Burger King introduced the Keep It Real Meals campaign, which linked QR codes to their lunch boxes. This campaign aimed to provide customers with digital collectibles and bonus NFTs and marked the first 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 both the virtual and physical worlds together, allowing customers to order real and virtual items to be delivered to them.
Key Questions Answered in Metaverse in FnB Market Report
What specific growth drivers are expected to impact the market during the forecast period? Can you list the top companies in the market and explain how they reached their influential position? How do regional trends and patterns differ within the global market and how could these differences impact the future growth of the market?
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