Impact of the Metaverse on Foodservice - Thematic Intelligence
Summary
This report provides an overview of how foodservice companies are entering the metaverse. It looks at how several fast-food chains have proven the power of this technology, entering the market with skillful advertising and customer engagement strategies. Furthermore, it assesses the consequences of supply chain disruptions following the Russia-Ukraine war and the global economy heading for possible stagflation on the metaverse adoption, and how it will influence foodservice innovation in the years ahead.
The metaverse is a virtual world where users share experiences and interact in real-time within simulated scenarios. At the time of writing, it is still largely conceptual but could transform how people work, shop, communicate, and consume content. The metaverse brings together a range of next-generation technologies from cloud computing to artificial intelligence (AI), blockchain, cryptocurrencies, cybersecurity, the internet of things (IoT), virtual reality (VR), augmented reality (AR), digital twins, and adtech. This report provides an overview of how foodservice companies are entering the metaverse and how it is used for their business strategies.
Scope
- GlobalData forecasts the metaverse market will be worth $144 billion by 2025 at a compound annual growth rate (CAGR) of 33.6% between 2020 and 2025.
- Most of the foodservice use cases involve gamification whose rewards can be then redeemed for real food in restaurants. Food brands leverage the metaverse to foster their relationship with users in a virtual environment, advertise themselves, and then capitalize on it when consumers spend their earned promotions at real-life restaurants.
- Under the current economic circumstances, the metaverse adoption in the foodservice sector will be delayed. In addition to this, GlobalData data shows that food brands’ metaverse hype had already started to wane in 2022.
- Gain insight into the latest metaverse trends in the foodservice sector.
- Identify how foodservice companies are adopting the metaverse in their business strategies.
- Uncover the foodservice companies excelling in metaverse adoption with GlobalData’s thematic scorecard. Understand competitor activity and positioning in the metaverse theme with extensive coverage of leading companies’ activity.
- Executive Summary
- The Metaverse Value Chain
- Key players in the metaverse value chain
- Foundation layer
- Semiconductors
- Components
- Connectivity
- Data management
- Blockchain
- Tools layer
- 3D engines
- Artificial intelligence
- Visualization engines
- Payment platforms
- Adtech
- User interface layer
- Experience layer
- Foodservice Challenges
- The Impact of the Metaverse on Foodservice
- How the metaverse helps resolve the challenge of ESG
- How the metaverse helps resolve the challenge of the post-pandemic world
- How the metaverse helps resolve the challenge of the future of work
- How the metaverse helps resolve the challenge of digital lifestyle
- Case Studies
- OneRare – The world’s first foodverse
- Chipotle Boorito Maze & Burrito Builder
- The Wendyverse - Wendy’s virtual hub
- Starbucks Odyssey
- Metaverse Wedding
- Data Analysis
- Market size and growth forecasts
- Mergers and acquisitions
- Patent trends
- Hiring trends
- Social media trends
- Metaverse timeline
- Companies
- Leading metaverse adopters in foodservice
- Leading metaverse vendors
- Specialist metaverse vendors in foodservice
- Sector Scorecard
- Foodservice sector scorecard
- Who’s who
- Thematic screen
- Valuation screen
- Risk screen
- Glossary
- Further Reading
- GlobalData reports
- Our Thematic Research Methodology
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Key challenges facing the foodservice sector
- Table 2: Key M&A transactions associated with the metaverse theme since January 2021
- Table 3: Leading metaverse adopters in foodservice
- Table 4: Leading metaverse vendors
- Table 5: Specialist metaverse vendors in foodservice
- Table 6: Glossary
- Table 7: GlobalData reports
- List of Figures
- Figure 1: Key players in the metaverse value chain
- Figure 2: The metaverse value chain
- Figure 3: The metaverse value chain - Foundation layer: semiconductors
- Figure 4: The metaverse value chain - Foundation layer: components
- Figure 5: The metaverse value chain - Foundation layer: connectivity
- Figure 6: The metaverse value chain - Foundation layer: data management
- Figure 7: The metaverse value chain - Foundation layer: blockchain
- Figure 8: The metaverse value chain - Tools layer: 3D engines
- Figure 9: The metaverse value chain - Tools layer: artificial intelligence
- Figure 10: The metaverse value chain - Tools layer: visualization engines
- Figure 11: The metaverse value chain - Tools layer: payment platforms
- Figure 12: The metaverse value chain - Tools layer: adtech
- Figure 13: The metaverse value chain - User interface layer
- Figure 14: The metaverse value chain - Experience layer
- Figure 15: In 2021, media hype boosted metaverse interest in the foodservice industry
- Figure 16: Thematic impact assessment
- Figure 17: A virtual space where food brands and users can interact and engage
- Figure 18: Fans solve a maze and roll burritos in the metaverse to redeem real-life meals
- Figure 19: Users can interact with each other and play games in Sunrise City and Frosty Village
- Figure 20: The coffee giant debuts on Web3 with a keep-it-simple loyalty platform
- Figure 21: Taco Bell shapes the future of love in the metaverse
- Figure 22: The metaverse will generate $144 billion in revenue by 2025
- Figure 23: Metaverse patent activity in the foodservice sector
- Figure 24: Geographical distribution of metaverse patents in the foodservice sector
- Figure 25: Metaverse job vacancies in foodservice increased by 394% between 2021 and 2022
- Figure 26: Metaverse-related posts doubled in 2022 across all sectors, but fell by 21% in the foodservice sector
- Figure 27: McDonald’s is the food brand mentioned the most on social media posts about the metaverse
- Figure 28: The metaverse story
- Figure 29: Who does what in the foodservice space?
- Figure 30: Thematic screen
- Figure 31: Valuation screen
- Figure 32: Risk screen
- Figure 33: Our five-step approach for generating a sector scorecard
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