Global supply chains have been disrupted by COVID-19, which has raised interest in local and regional food systems. NFTs can be used to trace the origin of food goods, enabling consumers to choose their food with greater knowledge and assisting regional farmers.
North America had the largest global food NFT market revenue share in 2022.
The main drivers of the growth of the food NFT market are the rise of digital assets and collectibles, the rapid adoption of cryptocurrencies, the availability of authentication, and the capacity to trace original owners.
The digital asset segment had the largest share in the global market.
In 2022, the business strategy formulation segment had a major revenue share in the global market.