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Market Introduction- 3D Food Printing Market Analysis
3D food printing is the means of producing food products using a variety of additive manufacturing methods. The global 3D food printing market is anticipated to develop at a notable pace, attributed to nutritional control that can be accomplished in several processed foods by 3D printers and assurance assured by the technology. The augmenting interest of researchers and investors in acquiring advanced 3D printers to generate high-quality food products is assumed to drive market growth. For example, the US Army is exhibiting great interest in 3D food printing in military foods due to many reasons, involving energy and nutrition requirements, to produce supplies on the battlefields, to prolong the shelf-life of food.
The market size is anticipated to reach USD 1,900 Million by 2029 at a CAGR of 54.5%. Rapid urbanization, especially in Asia and other developing regions is anticipated to propel the demand for processed food of different forms and geometries. The efficacy of superior 3D printers to operate as stand-alone tools to develop and deliver food by performing multiple actions on the raw food ingredients will boost the demand for these printers. Moreover, the demand in residential and households to obtain high customization in food may assist the growth of the market in the coming years.
As the technology is in its initial stage of development, it comes with a high price, and this is a significant restraining factor. The labeling issues, complexities, and cost of production are the major restraining factors.
Market Trends- 3D Food Printing Market Analysis
3D food printing provides 3-dimensional digital forms to pleasant real-world items. It renders 3D shapes for food ingredients and preserves the taste, framework, and texture of the goods. It converts proteins from algae or insects to savory products and is deemed secure for the environment. The major advantages are the opportunities for the meals to be customized according to individual preferences and specifications.
The need to enhance food production technologies is a vital factor along with hiking requests for customized food products with nutrients. Growing research and development activities by significant players and innovative food product contributions by new entries will further generate new opportunities for the 3D food printing market in the approaching years.
Market Restraints – 3D Food Printing Market Analysis
Factors such as slow making process which augments the production cost are hindering the market growth. The lack of a skilled workforce, the absence of advanced infrastructure linked with lack of original texture and flavor are the potential restraints hampering the overall growth of the market.
Segment analysis- 3D Food Printing Market Analysis
The 3D Food Printing Market is segmented by ingredient and vertical.
Based on ingredients, the market is segmented by Dough, Fruits & Vegetables, Dairy Products, Carbohydrates, and others. The carbohydrates segment is expected to observe the highest CAGR in the coming years. The factors that can be associated with the preferable application of 3D food printers for the generation of customized chocolates and other sweet food items such as candies, pancakes, and donuts involve carbohydrates as the principal constituent is accelerating the market for carbohydrates segment.
Based on Vertical, the market is segmented into Government, Commercial, and Residential. The commercial segment operates the largest market share. The majority of essential 3D food printer manufacturing firms focus on the users from the commercial segment as their latent clients as it is easy to provide maintenance and training assistance to them.
Regional insights- 3D Food Printing Market Analysis
As a result of high awareness and adoption of 3D printing technology in food products, Europe will hold the largest market share in the global food 3D printing market during the forecast period. In the forecast years, the emergence of prominent players in the European food 3D printing market and increasing innovation by European players will promote market growth. The North American and Asian food markets are likely to flourish due to the increasing popularity of customized and inexpensive commoditized food products. Furthermore, the expansion of North American food 3D printing aims to be bolstered by increasing collaborations between food manufacturers and food technology companies.
The North American region operates the largest market share in terms of revenue. Substantial U.S government initiatives and designation of a considerable amount of budget on the healthcare sector, and open-ended projects are boosting the market growth in the region.
Key players- 3D Food Printing Market Analysis
Some of the dominant organizations in the global food 3D printing market are Natural Machines (Spain), Barilla G. e R. F.lli S.p.A. (Italy), Systems & Materials Research Corporation (U.S.), Electrolux AB (Sweden), Print2taste GmbH (Germany), Choc Edge (U.K.), Beehex (U.S.), TNO (Netherlands), Byflow (Netherlands) and Biozoon Food Innovations GmbH (Germany).