Product Code: PM3140
The global food & beverage non fungible token (NFT) market size is expected to reach USD 2,134.04 Million by 2032, according to a new study by Polaris Market Research. The report "Food & Beverage Non Fungible Token (NFT) Market Share, Size, Trends, Industry Analysis Report, By Type (NFT Food, NFT Beverage), By Application, By Region, Segments & Forecast, 2019 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Unique ownership opportunities, using NFTs in virtual reality and video games, promotions, and advertising from food companies and restaurants are other factors expected to drive the market in the forecast period.
Nonfungible tokens (NFTs) are unique digital assets verified on a blockchain network. These are created using blockchain technology, a decentralized digital ledger that records transactions transparently and securely. The value of an NFT can vary greatly depending on the rarity and popularity of the item it represents, with some NFTs selling for millions of dollars. The growing demand for transparency and traceability in the food industry boosts the nonfungible token (NFT) market. The ability to track and verify food products' origin, quality, and safety is becoming increasingly important to consumers, retailers, and regulatory bodies.
Pizza Hut Canada has introduced "1 Byte Favorites", NFTs of a pizza slice with recipes such as Hawaain, Canadian, Margherita, and Pepperoni, as part of a marketing drive to promote their pan pizzas and draw customer attention. Another example for the market includes Papa John's International, Inc., a pizza take-out chain that launched its NFT "Hot Bags," featuring a sequence of handbag designs to publicize its new line of business - Papa John's X Cheddar, a line of its merchandise.
Several limiting factors affect the growth and adoption of Organic Seed in the market, including limited market adoption, high costs and technical expertise, regulatory hurdles, and lack of standardization. Creating and managing NFTs requires technical expertise and resources, which could be a barrier for smaller Food & Beverage producers. The use of NFTs in the Food & Beverage industry is still a relatively new concept, and there may be limited awareness or understanding of their potential benefits among consumers and industry stakeholders.
Report Highlights
- The COVID-19 pandemic moderately impacts the Food & Beverage nonfungible token (NFT) market. On the positive side, the pandemic has increased interest in online marketplaces and digital assets. However, the pandemic has also negatively affected the food industry, which could impact the food & beverage NFT market. It has affected the demand for food-related NFTs, as fewer people may be interested in purchasing culinary expertise or virtual food items during economic uncertainty.
- The NFT Food segment is anticipated to dominate the market in the forecast period. Factors include the potential application of NFTs in the Food & Beverage industry for safety and traceability. Another application of NFTs majorly used in the Food & Beverage industry is in Food & Beverage marketing and branding.
- The Dining segment dominated the market in the year 2022. Accessing exclusive restaurants, private chef services, or food tours, providing proof of ownership or access to these experiences, and offering collectors a way to own a piece are the key driving factors for the segment. It is also used to create virtual dining experiences, where users can purchase an NFT that grants them access to a virtual reality dining experience or a live-streamed cooking class.
- North America region is leading the market in terms of revenue share for the year 2022. The growing popularity of blockchain technology and the increasing demand for traceable food goods are the key supporting factors for the segment in the forecasted period. The market presents an exciting opportunity for businesses and investors to explore new ways of monetizing and marketing Food & Beverage products while tapping into the growing interest in blockchain and cryptocurrency.
- Asia Pacific region is expected to witness a significant CAGR for the market owing to a diverse range of cuisines and food cultures and a large and growing middle class with increasing disposable income. In addition, the region is home to many socially and environmentally conscious consumers who might be interested in supporting businesses that use sustainable and ethical practices.
Polaris Market Research has segmented the Food & Beverage Non Fungible Token Market report based on type, application, and region:
Food & Beverage Non Fungible Token Market, Type Outlook (Revenue - USD Million, 2019 - 2032)
Food & Beverage Non Fungible Token Market, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Dining
- Coffee Subscription
- Digital Recipes
- Other
Food & Beverage Non Fungible Token Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Food & Beverage Non Fungible Token (NFT) Market Insights
- 4.1. Food & Beverage Non Fungible Token (NFT) Market - Industry Snapshot
- 4.2. Food & Beverage Non Fungible Token (NFT) Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing demand for transparency and traceability in the food industry
- 4.2.1.2. Rising fuel cell demand
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High and hidden fees
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Food & Beverage Non Fungible Token (NFT) Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Food & Beverage Non Fungible Token (NFT) Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Food & Beverage Non Fungible Token (NFT), by Type, 2019-2032 (USD Million)
- 5.3. NFT Food
- 5.3.1. Global Food & Beverage Non Fungible Token (NFT) Market, by NFT Food, by Region, 2019-2032 (USD Million)
- 5.4. NFT Beverage
- 5.4.1. Global Food & Beverage Non Fungible Token (NFT) Market, by NFT Beverage, by Region, 2019-2032 (USD Million)
6. Global Food & Beverage Non Fungible Token (NFT) Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 6.3. Dining
- 6.3.1. Global Food & Beverage Non Fungible Token (NFT) Market, by Dining, by Region, 2019-2032 (USD Million)
- 6.4. Coffee Subscription
- 6.4.1. Global Food & Beverage Non Fungible Token (NFT) Market, by Coffee Subscription, by Region, 2019-2032 (USD Million)
- 6.5. Digital Recipes
- 6.5.1. Global Food & Beverage Non Fungible Token (NFT) Market, by Digital Recipes, by Region, 2019-2032 (USD Million)
- 6.6. Other
- 6.6.1. Global Food & Beverage Non Fungible Token (NFT) Market, by Other, by Region, 2019-2032 (USD Million)
7. Global Food & Beverage Non Fungible Token (NFT) Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Food & Beverage Non Fungible Token (NFT) Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3. Food & Beverage Non Fungible Token (NFT) Market - North America
- 7.3.1. North America: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.3.2. North America: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.3.3. Food & Beverage Non Fungible Token (NFT) Market - U.S.
- 7.3.3.1. U.S.: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.3.3.2. U.S.: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.3.4. Food & Beverage Non Fungible Token (NFT) Market - Canada
- 7.3.4.1. Canada: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.3.4.2. Canada: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4. Food & Beverage Non Fungible Token (NFT) Market - Europe
- 7.4.1. Europe: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.2. Europe: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.3. Food & Beverage Non Fungible Token (NFT) Market - UK
- 7.4.3.1. UK: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.3.2. UK: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.4. Food & Beverage Non Fungible Token (NFT) Market - France
- 7.4.4.1. France: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.4.2. France: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.5. Food & Beverage Non Fungible Token (NFT) Market - Germany
- 7.4.5.1. Germany: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.5.2. Germany: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.6. Food & Beverage Non Fungible Token (NFT) Market - Italy
- 7.4.6.1. Italy: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.6.2. Italy: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.7. Food & Beverage Non Fungible Token (NFT) Market - Spain
- 7.4.7.1. Spain: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.7.2. Spain: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.8. Food & Beverage Non Fungible Token (NFT) Market - Netherlands
- 7.4.8.1. Netherlands: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.8.2. Netherlands: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.4.9. Food & Beverage Non Fungible Token (NFT) Market - Russia
- 7.4.9.1. Russia: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.4.9.2. Russia: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5. Food & Beverage Non Fungible Token (NFT) Market - Asia Pacific
- 7.5.1. Asia Pacific: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.2. Asia Pacific: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5.3. Food & Beverage Non Fungible Token (NFT) Market - China
- 7.5.3.1. China: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.3.2. China: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5.4. Food & Beverage Non Fungible Token (NFT) Market - India
- 7.5.4.1. India: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.4.2. India: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5.5. Food & Beverage Non Fungible Token (NFT) Market - Malaysia
- 7.5.5.1. Malaysia: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.5.2. Malaysia: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5.6. Food & Beverage Non Fungible Token (NFT) Market - Japan
- 7.5.6.1. Japan: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.6.2. Japan: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5.7. Food & Beverage Non Fungible Token (NFT) Market - Indonesia
- 7.5.7.1. Indonesia: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.7.2. Indonesia: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.5.8. Food & Beverage Non Fungible Token (NFT) Market - South Korea
- 7.5.8.1. South Korea: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.5.8.2. South Korea: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.6. Food & Beverage Non Fungible Token (NFT) Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.6.2. Middle East & Africa: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.6.3. Food & Beverage Non Fungible Token (NFT) Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.6.3.2. Saudi Arabia: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.6.4. Food & Beverage Non Fungible Token (NFT) Market - UAE
- 7.6.4.1. UAE: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.6.4.2. UAE: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.6.5. Food & Beverage Non Fungible Token (NFT) Market - Israel
- 7.6.5.1. Israel: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.6.5.2. Israel: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.6.6. Food & Beverage Non Fungible Token (NFT) Market - South Africa
- 7.6.6.1. South Africa: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.6.6.2. South Africa: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.7. Food & Beverage Non Fungible Token (NFT) Market - Latin America
- 7.7.1. Latin America: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.7.2. Latin America: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.7.3. Food & Beverage Non Fungible Token (NFT) Market - Mexico
- 7.7.3.1. Mexico: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.7.3.2. Mexico: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.7.4. Food & Beverage Non Fungible Token (NFT) Market - Brazil
- 7.7.4.1. Brazil: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.7.4.2. Brazil: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
- 7.7.5. Food & Beverage Non Fungible Token (NFT) Market - Argentina
- 7.7.5.1. Argentina: Food & Beverage Non Fungible Token (NFT) Market, by Application, 2019-2032 (USD Million)
- 7.7.5.2. Argentina: Food & Beverage Non Fungible Token (NFT) Market, by Type, 2019-2032 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Flyfish (FFC)
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Kley, Inc. (Bored Breakfast Club)
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Gourmet NFT
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Burger King
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. McDonald's Corporation
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Pizza Hut
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. William Grant & Sons Ltd.
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. The Yummy Cottage LLC
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Quality Is Our Recipe, LLC (Wendyverse)
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Bacardi Limited
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development