Metaverse in FMCG Market to grow by USD 2.11 bn
Technavio’s latest market research report reveals that the growing number of FMCG brands entering the metaverse platform is driving market growth.
Major brands like Coca-Cola, AnheuserBusch, and PepsiCo are exploring the metaverse market for sales and brand awareness. However, privacy and security concerns are significant challenges, as the metaverse collects and processes vast amounts of data on users and the environment, potentially posing a threat to privacy. Hackers can also access user devices, further restricting market growth.
The metaverse in the FMCG market is expected to experience significant growth in the computers segment due to the increasing internet penetration. This growth is driven by the convenience of accessing a wide range of products on metaverse platforms, allowing customers to compare prices and buy products from their home desktop computers. Big FMCG brands like Coca-Cola and Unilever plc are expected to dominate the market, with 45% of the growth expected to come from North America. The metaverse in e-commerce market is projected to grow at a CAGR of 39.65% between 2022 and 2027, with a market size of USD 85,885.22 million. The metaverse in healthcare market is also expected to grow at a CAGR of 34.92% between 2022 and 2027.
(With inputs from Shikha Singh)
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