Global 3D Food Printing Market, USD 400 million by 2024
"Global 3D Food Printing Market Over the Forecast Period"
The global 3D food printing market is segmented by age group into multi ingredient, dough, fruits and vegetables, proteins, sauces, dairy products, carbohydrates and other. Among these segments, carbohydrates segment grabbed major shares of market in previous years and is expected to witness considerable growth over the forecast period. Rising demand for personalized food by the consumers is one of the key growth drivers of global 3D food printing market. Further, growth in number of nutrient and ingredient conscious people in various developed countries such as U.S., Canada and Japan is expected to propel the growth of the global 3D food printing market in upcoming years.
Global 3D food printing market is expected to register a notable CAGR over the forecast period. Moreover, the global market is projected to grow on the back of factors such as rising demand for customization of nutrients & ingredients and enhancement in 3D printing technology. Moreover, rising application in healthcare sector is anticipated to foster the growth of global 3D food printing market. Further, rising demand for customized chocolates and cakes from the consumers is impelling the growth of global 3D food printing market.
Market Size and Forecast
The market is expected to expand at a CAGR of 50% during the period 2017-2024 and is expected to reach USD 400 million by 2024. The market growth is driven by the factors such as growing demand for customized food and increasing demand from the healthcare applications. Food Ink, a 3D printed restaurant serves the deserts to the customers that are 3D printed.
Food Innovation
The 3D food printers can offer nice food designs, decorations, textures and can save great time & effort. Beautiful patterns developed by 3D printers on food items are getting appreciation from around the globe.Food designer are using food printers to develop innovative food structures and creative designs. Advantages of 3D food printing technology such as minimized waste, innovation in healthy food and others are expected to encourage the growth of global 3D food printing market over the forecast period.
Rapid introduction of New Application of 3D Food printing
Advances in technologies such as multi ingredient support are expected to drive the growth of 3D food printing market. Moreover, wide scale application of 3D food printing in healthcare and food industry (for rapid prototyping) is garnering the growth of the market. Apart from this, 3D food printer in future may find an application in space also. NASA granted USD 125,000 to Systems and Materials Research Corporation (SMRC) to build a prototype 3D food printer for NASA. Such innovation and advancements in 3D food printing technology can foster the growth of global 3D food printing market in future.
Although, high cost of the 3D food printers is creating reluctance for the adoption of 3D food printers among residential users is expected to limit the growth of the global 3D food printing market.
The report titled “3D Food Printing Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global 3D food printing market in terms of market segmentation by ingredient, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global 3D food printing market which includes company profiling of Natural Machines, Choc Edge, TNO, By Flow, Print2taste GmbH, CandyFab, Beehex, Nu Food, SMRC and 3D Systems, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 3D food printing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
