Blockchain in Consumer – Thematic Research
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The adoption of blockchain technology is surging in industry verticals including consumer goods. Blockchain vendors are taking a more business-oriented approach to educating executives about the benefits of the technology. Furthermore, COVID-19 has accelerated digital transformation, and executives across the globe are perceiving blockchain as a solution to provide tangible benefits.
Beyond cryptocurrencies, blockchain has diversified into other applications and industries demanding security due to its traceability, transparency, and immutability. Post the pandemic, there has been increasing attention on food and drink safety as consumers are becoming wary of imported products. The integration of blockchain in retail and production can enhance consumer engagement without necessarily being a disruptive force. The blockchain in consumer thematic research report gives an overview of the blockchain in consumer value chain, market size, growth forecasts, and the key trends impacting the market.
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Blockchain in Consumer – Key Trends
The key trends that are likely to influence the blockchain theme in the consumer sector can be classified into four categories: technology, macroeconomic, regulatory, and use case trends.
- Technology Trends: Some of the common technology trends influencing blockchain in the consumer sector are blockchain as a service (BaaS), permissioned blockchains, zero-knowledge proof (ZKP), artificial intelligence (AI), and the Internet of Things (IoT).
- Macroeconomic Trends: The key macroeconomic trends impacting the blockchain theme in consumer sector are COVID-19, Consortia, and Networks of Networks.
- Regulatory Trends: The main regulatory trends influencing the adoption of blockchain in the consumer sector are regulatory clarification, fintech regulation, and blockchain standards.
- Use case Trends: The prominent use case trends aiding the promotion of blockchain in the consumer goods industry are payments, supply chain, data sharing, smart contracts, cryptocurrency, central bank digital currencies (CBDCs), decentralized finance (DeFi), stablecoins, trade finance, non-fungible tokens (NFTs), decentralized digital identities (DID), and provenance.
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Blockchain in Consumer – Industry Analysis
According to GlobalData, the global blockchain software and services market size was $3.6 billion in 2020 and is estimated to grow at a CAGR of more than 48% during 2020-2030. This considerable growth can be attributed to the rising adoption of Blockchain as a Service (BaaS). BaaS vendors integrate blockchain into core technologies, which helps blockchain adoption by easing operational requirements and allowing customers to access blockchain-based technologies without investing in in-house development.
The blockchain in consumer market theme also covers –
- Use cases
- Mergers and acquisitions
- Timeline
Blockchain Market Revenue, 2019-2030
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Blockchain in Consumer – Value Chain Analysis
GlobalData’s blockchain in the consumer value chain comprises two segments: consumer drivers and brand and product attributes. These can be split into multiple sub-segments and related industry topics.
Smart Labelling: Smart labels support consumers’ desire to know more about what they are eating, while the incorporation of blockchain can help reinforce their faith in the brands they trust. For smart labels to achieve mass adoption, designers will need to integrate QR codes in a manner that will not be obtrusive to product packaging. Marketing will also need to develop to educate digital immigrants on how to proactively engage with these new digital tools. In 2018, 3M developed a proof of concept for a new label-as-a-service solution built with blockchain on Microsoft Azure.
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Blockchain in Consumer – Leading Companies
The blockchain in consumer sector is witnessing intensive competition among existing payers and upcoming startups focusing on strengthening their market positions. The report covers key companies and their product launches to ensure they continue to maintain their dominance in the market.
Some of the top blockchains in consumer companies covered in this thematic research study include:
- Ajinomoto
- Anheuser-Busch InBev
- Avery Dennison
- Fonterra
- Groupe SEB
- Henkel
- McDonald’s
- Nestle’
- Starbucks
- The Hershey Company
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Blockchain in Consumer Market Overview
Report Pages | 51 |
Regions Covered | Global |
Market Size (2020) | $3.6 Billion |
CAGR (2020-2030) | >48% |
Key Trends | Technology trends, Macroeconomic trends, Regulatory trends, and Use case trends |
Value Chains | Consumer drivers and Brand & Product Attributes |
Blockchain in Consumer Companies | Ajinomoto, Anheuser-Busch InBev, Avery Dennison, Fonterra, Groupe SEB, Henkel, McDonald’s, Nestle’, Starbucks, and the Hershey Company |
Scope
- Blockchain has showcased many qualities beyond digital currency, utilizing transparency and traceability for innovations in supply chain management.
- The role of smart contracts can record ownership rights as products move through the supply chain, confirming responsibility for the product at any given time.
- A blockchain ledger also enables brands to track recalls as they happen, giving confidence to the end consumer and protecting the brand’s reputation.
Reasons to Buy
- Gain insight into the technologies used in the integration of blockchain in consumer goods.
- Identify emerging trends to help better position your company.
- Discover consumers’ reception to these technologies to influence actions going forward.
Anheuser-Busch InBev
Avery Dennison
Fonterra
Groupe SEB
Henkel
McDonald's
Nestle
Starbucks
The Hershey Company
Table of Contents
Frequently asked questions
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What was the blockchain in consumer market size in 2020?
The blockchain in the consumer market is valued at $3.6 billion in 2020.
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What is the blockchain in consumer market growth rate during 2020-2030?
The blockchain in the consumer market will be driven at a CAGR of more than 48% during the forecast period.
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Who are the major companies in the blockchain in consumer theme?
Ajinomoto, Anheuser-Busch InBev, Avery Dennison, Fonterra, Groupe SEB, Henkel, McDonald’s, Nestle’, Starbucks, and the Hershey Company will emerge as the top blockchain companies in the consumer sector.
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Which technology trends are likely to influence the blockchain in consumer themes the most?
Blockchain as a service (BaaS), permissioned blockchains, zero-knowledge proofs, artificial intelligence, and the Internet of Things are some of the top technology trends likely to influence the market’s growth during the forecast period.
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What are the key value chain components of the blockchain in the consumer theme?
The main value chain components of the blockchain in the consumer theme are consumer drivers and brand & product attributes.
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