Yahoo Finance Food 3D Printing Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)
The Food 3D Printing Market size is expected to grow from USD 0.52 billion in 2023 to USD 2.06 billion by 2028, at a CAGR of 31.57% during the forecast period (2023-2028). 3D printing technology has brought tremendous change in the food industry, with several companies worldwide trying their hand at 3D printing food.
New York, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food 3D Printing Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06484097/?utm_source=GNW
The Food 3D Printing Market size is expected to grow from USD 0.52 billion in 2023 to USD 2.06 billion by 2028, at a CAGR of 31.57% during the forecast period (2023-2028).
3D printing technology has brought tremendous change in the food industry, with several companies worldwide trying their hand at 3D printing food. 3D printing technology involves a process known as additive manufacturing, wherein 3D deposition printers slowly deposit the layers of materials, one on top of the other, until a product is released. 3D printers are used for manufacturing and creating food that utilizes lasers, powdery materials, and nozzles, opening new doors for the customization of food products by delivering a potent mix of the right nutrients.
The 3D food printing market is driven by the underlying printing technology at the nascent stage of development and execution as far as the processed food sector is concerned. The stringent quality assurance and precise nutritional control achieved by the use of 3D printing is in itself a revolutionary concept. 3D food printing has also been introduced in the foodservice sector, with a growing number of chefs and cooks embarking on food innovation and culinary creativity by utilizing 3D food concepts. Hence, the demand for 3D printing in the food and beverage industry is expected to grow in the coming years.
Food 3D Printing Market Trends
Rising Consumer Demand for Customized Food Products
Rising consumer demand for customized and personalized food products is boosting the demand for 3D printers. Manufacturers are launching innovative 3D food printers for indulgence applications, such as chocolates, confectioneries, and pancakes, leading to an increased demand for 3D food printers at commercial and domestic levels globally. The market demand for mass customization is increasing, with manufacturers innovating different shapes, colors, flavors, nutrition, and textures. This customization is mainly done on food products like coffee, hamburgers, ice creams, cakes, biscuits, and confectionery. Technology is also one of the driving forces behind the 3D food printing market.
North America Holds the Largest Market Share
North America dominates the market due to the consumers’ rapid adoption of 3D printing technology and its implementation in the daily food-making procedure. The huge market for confectioneries and bakery products, such as candies, chocolates, pizzas, and burgers, in North America and the increased demand for customized food products from the region make the region the largest market for 3D food printing technology. To promote 3D printing activities in the region, local governments are focusing on introducing programs that support 3D-printed food in the market.
For instance, in May 2022, the US federal government, with support from ASTRO (Applied Science & Technology Research Organization), initiated an AM Forward program that encourages and supports 3D food printing across small and medium-sized enterprises across the United States. With increasing exposure to the technological advancements of 3D printing in the food industry, the demand for incorporating 3D printing is expected to grow in the region.
Food 3D Printing Industry Overview
The food 3D printing market is competitive with the presence of numerous key players such as BeeHex, byFlow, CandyFab, Choc Edge, Nufood, Natural Machines, Systems, and Materials Research Corporation (SMRC). The mass customization of commoditized products and the ability to create complex food products quickly and inexpensively boosted the market. Companies in the market are strengthening their product portfolios by increasing their R&D investments. The key players in this market are increasingly undertaking partnerships and collaborations to develop new technologies.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06484097/?utm_source=GNW
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