Key Trends Latin America
16 Sept 2022
Sustainability and Metaverse: A look at the Latin American food market
The metaverse and sustainability are two key trends for modern companies and consumers, who demand new experiences that motivate them to buy. Therefore, companies have adopted different trends in the global market, including technological trends that have become fundamental for the development of the metaverse in the food sector.
The food sector has always been in constant evolution, applying new technologies in its processes to align with trends and thus provide better services and experiences to its users, including new ways such as the metaverse and sustainability. According to The Food Tech portal, by 2030 the metaverse will reach a value of 13 billion dollars worldwide and, on the other hand, in Latin America it will represent 5% of GDP in 2031. In addition, it is estimated that by 2026, 25% of people in the world will spend at least one hour a day in the metaverse.
New experiences for consumers in the Metaverse Copyrights: istock
Meanwhile, sustainability measures will be more in demand by inculcating in society sustainable habits that help reduce food waste, efficient use of water and return to nature the water contained in their products. Therefore, it is something that will not only benefit the environment but also the companies in the sector.
New generation focuses on sustainable brands
Recent data show how new generations, thanks to the use of technology, are creating new consumption trends that are more sustainable and conscious, where it is estimated that by 2026, 60% of new generations will be buying sustainable brands. Also, it covers the importance of issues such as environmentally friendly production and more interactive shopping where the metaverse is a topic of great potential and growth for the food industry.
Metaverse as new shopping experience
These trends represent new opportunities that generate greater impact on the shopping, entertainment, work and education experience for consumers, as well as benefits for technology companies, trade fair organizers and exhibitions in Latin America. Within the retail sector of Latin America, the metaverse and sustainability represent a great opportunity, as it seeks a greater impact on the shopping experience for consumers.
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