MARKET OVERVIEW- GLOBAL 3D FOOD PRINTING MARKET
Over the recent years, 3D printing has become very useful in the manufacturing of food products. Additive manufacturing of food is achieved by incorporating food into three-dimensional objects layer by layer. The most common way to do this is to use food-safe syringes to hold the impression material, which is then applied layer by layer through a food-safe nozzle. This is not too unusual compared to other food manufacturing processes that can already produce in 3D form often today. The main novelty of food 3D printing is that it can be done in a much more controlled way, resulting in products that could not be made otherwise (e.g. plant-based fish fillets). This method offers endless possibilities in terms of texture and flavor, which can be useful when developing meat and fish substitutes. The increase in demand for gourmet food and the growing trend in fine food experience is expected to positively affect market growth. The growth in disposable income, the growing consciousness of nutritional reception and a stronger demand for personalized meals are key factors which are anticipated to provide ample of new growth opportunity for the market.
The 3D food printing market is expected to grow at a high rate owing to the increase in implementation of innovative techniques as manufacturers are introducing new processing techniques to produce complex food products of different shapes and sizes. 3D food printing provides the ability to personalize food according to individual needs. The increasing market for customized food is a main reason for the growth of the 3D food printing market. The growing demand for advanced technology in the industry boost the demand for the 3D food printing market. 3D food printer can print food in different complex designs, which is manually not possible to do and the printer comprises a food-grade syringe or cartridge which hold material and it deposits exact fractional layers through food-grade nozzle directly onto a plate. Growing health concerns associated with food safety, a growing need to reduce consumable waste, and changing eating habits have fuelled the growth of the global three-dimensional consumables printing industry. Several food technology companies are innovating in the three-dimensional printing of consumables to develop plant-based meat products. This is expected to further boost the growth of the market.
Rapid urbanization across the globe is expected to create a great opportunity for 3D food printing market. The hospitality industry has shown huge interest in 3D food orienting technology. The capability of the 3D food printers to print food in various complex designs, which is not possible manually has gained the attention which is created great opportunity for 3D food printing market. This is expected to provide ample of new growth opportunity for the market during the forecast period.
This technology is in its nascent stage of development and it comes with high cost this factor is become major restraining factor of the 3D food printing Market. Further, the processing time is another major restraint that the 3D food printing industry faces. The reason behind slow printing time is that the printer has to maintain a high level of precision while printing food. These factors are expected to restrain the market growth over the forecast period.
MARKET GROWTH CHALLENGES
Lower adoption of the 3D food printing technology in some developing economies as less awareness about technology and this act as a major growth challenge in front of 3D food printing Market. Furthermore, the limited availability of food ingredients is a major challenge that 3D food printer face. Due to the unavailability of all the necessary food ingredient the 3D food printer cannot be commercialized on large scale. This is expected to be a major challenge for the market growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global 3D Food Printing market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for 3D food printing technology in different food applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
3D FOOD PRINTING MARKET SEGMENTAL OVERVIEW
The global 3D Food Printing market comprises of different market segments like ingredient, vertical, technology, and geography.
3D FOOD PRINTING MARKET BY INGREDIENT
The 3D Food Printing market includes key ingredients such as
- Fruits and vegetables
- Dairy Products
- Other Ingredients
The carbohydrates segment is expected to dominate the market over the forecast period owing to the growing demand for personalized carbohydrate products such as 3D chocolates. The protein segment is expected to witness significant growth owing to the high demand for protein-based products, especially plant-based proteins.
3D FOOD PRINTING MARKET BY VERTICAL
On the basis of vertical, the 3D Food Printing market includes segments like
The commercial segment account the largest share in the 3D food printing market. Due to major demand of 3D printed food mostly served through baking industry, restaurants, confectionaries and retail store. The companies are working on their products to make them more efficient so that they would be able to provide more options of customized food to the customers. Rising consumer demand for customized and personalized food product is boosting demand for 3D printers from various key players. The residential segment is expected to grow at a high rate over the forecast period due to increase in demand for 3D printing technology and increase in focus for ensuring the consistency of food products
3D FOOD PRINTING MARKET BY TECHNOLOGY
Different 3D food printing techniques studied in the global 3D Food Printing market are
- Fused deposition Modeling
- Elective laser sintering
- Binder jetting
- Inkjet Printing
Fused deposition modeling accounted the largest market share of the 3D food printing market. The large market share of fused deposition modeling is owing to its application in wide array of food, and its ability to provide high degree of freedom. Also, limited costs to the digital design of the object and ability to provide wide range of customization boost the fused deposition modeling technique growth in the industry.
3D FOOD PRINTING MARKET BY GEOGRAPHY
The global 3D Food Printing market is studied for the following regions
- North America
- Rest of the world (RoW)
North America is likely to dominate the global 3D Food Printing market. Owing, to the rapid adoption of the technology by the consumers and implementing it to the daily food-making procedure. The huge market for confectioneries and bakery products such as candies, chocolates, pizzas, and burgers in North America and increased demand for customized food products from the region make North America the largest market of 3D food printing technology. Rising R&D activities by major players and innovative food offerings by new entries in the North America create a major opportunity for the market. Asia Pacific is anticipated to lead the market over the forecast period due to rise in demand for affordable food products in the region.
COVID-19 IMPACT ANALYSIS ON GLOBAL 3D FOOD PRINTING MARKET
Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global 3D Food Printing market. In addition, complete analysis of changes on the global 3D Food Printing market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The COVID-19 pandemic has hit a majority of the fortune companies, out of which many food and beverage companies were hit due to sever disruption in supply chain. The outbreak of COVID in the 3D food printing market caused distribution since it spread was across the globe. COVID-19 impacted the various sector and industries. Due to the COVID-19 pandemic, the demand for food has been rising but due to the supply chain disruption stopped producers to supply their products to the market. Moreover, the disruptions in the supply chains are causing wastage of fresh produce, even though there is a high demand for products. The changes in consumer behaviour and demand during the pandemic impacted on value chain in the food and beverage industry. The shutdown of economic activities affected all the sector. However, in post-pandemic their increased demand for this technology as consumer become health-conscious and their preference shifter toward nutritious food. This technology is healthy and beneficial as it helps to convert ingredients into flavoursome foodstuff.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of 3D Food Printing market is majorly focused on expanding the global growth of 3D food printing industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in 3D food printing sector has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- NATURAL MACHINES
- Choc Edge
- Systems & Materials Research Corporation
- Print2Taste GmbH
- Yaeyama chlorella
- Modern Meadow
- Netherlands Organization for Applied Scientific Research
- byFlow B.V
- Aniwaa Pte. Ltd
- BIOZOON GmbH
- ORD Solutions Inc
- PancakeBot LLC
November 2021: Redefine Meat had commercially launched world’s first whole cuts of new-meat with first ever category of plant-based whole cuts that achieve a level of product quality comparable to high-quality animal meat in Rehovot Israel.
September 2021: NASA had partnered with systems and material research corporation to develop both the 3D printers and the food for providing a healthy environment for astronauts. Systems and materials research has already come up with a pizza printing system that uses a combination of powdered foods which contain necessary nutrient.