Edible Ink and Accessories Market
Edible Ink and Accessories Market (Pens & Markers and Cartridges [Refillable and Non-Refillable]; Application: Bakery, Confectionery, Snacks, and Others; End Use: Food Services/HoReCa and Household; and Sales Channel: Direct and Indirect [Hypermarkets/Supermarkets, Convenience Stores, Departmental Stores, Food & Drink Specialty Stores, and Online Retail]) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Press Release :
Standalone Printers Increase Production of Bakery Items
Introduction of new printers are steering growth for the edible ink and accessories market. For instance, in June 2019, iView - a manufacturer of consumer electronics, announced the launch of their new Picasso Smart Art Printer for drinks and desserts. Emergence of new printers is gaining prominence in the market of edible ink and accessories, since the end use preference is shifting from only bakery items to drinks and desserts.
There is a growing demand from consumers in households for standalone printers that alleviate the need for connection with other devices. Companies in the edible ink and accessories market are increasing production capabilities in food-grade ink cartridges to support the convenience of end users. In comparison to pens & markers, the cartridges segment is expected to grow pervasively during the forecast period, with an estimated revenue of ~US$ 9.2 Mn by 2029. Hence, manufacturers in the market for edible ink and accessories are helping end users to boost their production in the domain of bakery products by increasing the availability of refillable and non-refillable cartridges.
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Compliance with FDA Guidelines Boosts Uptake of Edible Printers
Growing awareness about edible printing has triggered growth for the edible ink and accessories market. Global demand for clean label products has compelled market players to comply with the safety standards formulated by the FDA and other government institutions. Thus, abiding by the FDA norms is helping market players to bolster their credibility in the global market for edible ink and accessories.
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Though the revenue of food services/HoReCa segment is higher than that of household segment in the edible ink and accessories market, the household end use segment is projected for exponential growth during the forecast period. As such, household segment is estimated to reach a revenue of ~US$ 3.8 Mn by the end of 2029. Hence, companies in the market for edible ink and accessories are increasing research in food safety technology to develop edible printers that gain the trust and faith of users in household environment. The pervasively growing startup culture is another key driver for market growth, as more number of consumers are coming up with innovative business ideas related to bakery and confectionary products.
Photographic-quality Imagery Gains Popularity as Profitable Business Model
More number of end users resonate with leading players, such as Canon Inc. and Seiko Epson Corporation to buy edible printers in the edible ink and accessories market. The idea of digital ink applied onto edible substrates to create photographic-quality imagery is increasingly gaining popularity as a profitable business model for end users in food service and household alike. Hence, manufacturers in the edible ink and accessories market are capitalizing on this trend by introducing innovative printers and pens that satisfy the needs of users. They are increasing their research to develop inks and accessories that abide by government norms to bolster their credibility credentials.
Apart from North America and Europe, companies in the edible ink and accessories market are delving into untapped opportunities to strengthen their supply chains in high growth regions of Latin America, Middle East, and Africa. Emergence of high-quality edible papers and chocolate transfer sheets are some of the key drivers for the overall market growth of edible ink and accessories.
Limitations of 3D Printing Pens Cater to Improvements in Weight and Pricing Strategies
Novel innovations, such as 3D printing pens are driving the market for edible ink and accessories. For instance, an innovator in 3D pens using photopolymers CreoPpop, announced the launch of their first-of-its-kind cordless 3D printing pen to meet end user needs. However, there is a growing need to develop lightweight pens and less-expensive ink cartridges to boost the uptake of 3D printing pens. Hence, manufacturers in the edible ink and accessories market are increasing R&D and tests to compare their offerings in 3D printing pens with other vendors to improvise on the weight and cost of their products.
Online crowdfunding platforms are supporting the growth of startups looking to enter the market for edible ink and accessories. Emerging players are collaborating with e-Commerce sites to gain visibility in the global market landscape.
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Companies in the edible ink and accessories market are focusing on improving cost-efficiency of standalone printers by alleviating the need for monthly maintenance fees. They are increasing production capacities to develop industrial grade printers that deploy 3D imagery in a variety of food and drinks.
Cordless printing pens have opened the doors for flexibility and portability in 3D imagery. However, the risk of allergic reactions in individuals poses as a challenge for product manufacturers. Hence, companies should increase research to develop 3D printing pens that are child-friendly and non-toxic by complying with regulatory norms. They should increase efficacy in sophisticated designs of full-metal exterior and frame of printers, to cater to the aesthetic needs of end users at confectionary and boutique coffee houses.
Edible Ink and Accessories Market: Overview
- TMR has conducted a research on the edible ink and accessories market, according to which, the market is estimated to reach ~ US$ 23 Mn in 2019, in terms of value. It is anticipated to reach ~US$ 45 Mn by 2029, at a CAGR of ~7%.
- Surge in the demand for premium and quality products, in line with the increased bakery and confectionery products consumption, is creating favorable market conditions for the edible ink and accessories market. This has translated into the growth opportunities for the edible ink and accessories market.
- In the last five years, artisanal bakery has reformed and is enjoying a huge demand from the middle class consumers. Edible ink and accessories market, having witnessed technological advancements, is likely to have a promising future.
Edible Ink and Accessories: Market Frontrunners
- Pens & markers is expected to be the leading product type segment of the edible ink and accessories market in 2019, accounting for ~80% market share, in terms of value, surpassing the cartridges segment. Cartridges segment has been further divided into two sub-segments: refillable and non-refillable. Non-refillable sub-segment accounts for 67.5% of the cartridges segment, in terms of value.
- The bakery segment is leading the global edible ink and accessories market in terms of application, followed by confectionery and snacks segments. These segments are projected to account for 49.7%, 24.2%, and 16.5% of the market, respectively, in terms of value, 2019.
- Europe leads the edible ink and accessories market, followed by Asia Pacific Excl. Japan and North America, in terms of value. On the basis of end use, the household segment accounts for approximately 8% of the edible ink and accessories market, while food services/HoReCa segment accounts for the remaining share of the market.
Edible Ink and Accessories Market: Trends
- Convenience is a primary factor impacting the goods & services sector that goes hand-in-hand with current consumer preferences. Small- and medium-sized products are experiencing a high demand due to the convenience they offer. With advancements in the bakery & confectionery sector, edible ink printing is gaining traction from consumers. Edible ink printing is not only adopted by high-end bakery and café franchises, household consumers too are becoming increasingly interested in edible ink printing. This is creating a demand for small- and medium-sized edible ink printing equipment and accessories in the global market.
- In the past few years, the food & beverages industry has transformed drastically, mostly on account of the changing demand from millennials. Health and wellness is the foremost factor shaping the current food & beverages landscape. This has fueled the demand for natural and plant-based ingredients, since these products are perceived as healthy. Hence, the edible ink and accessories market is expected to exhibit a similar trend considering food additives are used as edible ink. Plant derived food additives for edible printing is highly preferred in the edible ink and accessories market.
Edible Ink and Accessories Market: Strategies
- Key players operating in the edible ink and accessories market are introducing new business-to-business websites, where customers are offered discount on the products listed
- Product Innovation and Launches: Key companies are increasing their investments in research and development activities to offer innovative products in order to satisfy the ever-rising demand from customers.
- Kopyform GmbH in 2019 introduced edible ink cartridges that can function with Canon multifunctional printers
Target Region for Edible Ink and Accessories Market
- In terms of value, European countries are likely to represent the largest share in the edible ink and accessories market by 2019 end, and is expected to remain strong and retain the second position over the forecast period following Asia
- Increasing bakery and baked goods sales, coupled with the increasing consumer awareness of the photo cake and photo coffee products is anticipated to create growth opportunities for edible ink and accessories market
Edible Ink and Accessories Market: Players
Key players operating in the edible ink and accessories market, as profiled in the study, include
- Canon Inc.
- Seiko Epson Corporation
- Lexmark International Inc.
The market is niche with few market players, and various online vendors, such as
- Edible Supply Inc.
- Icing Images
- Ink 4 Cakes
- Anycake Ltd.
- The Cake Decorating Co.
- Kopyform GmbH
- Kopykake Enterprise, etc.
Edible Ink and Accessories Market - Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the edible ink and accessories market. It provides a detailed assessment of key market dynamics, including drivers, trends, opportunities & restraints, and detailed information about the edible ink and accessories market structure. The market study presents exclusive information about how the edible ink and accessories market will grow during the forecast period of 2019-2029.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in TMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the edible ink and accessories market during the forecast period.
The study is relevant for stakeholders in the edible ink and accessories market, including edible ink and accessories manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the edible ink and accessories market, which include investors, industry experts, researchers, and journalists, and business researchers, can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting expansion of the market. It also offers actionable insights into the future trends in the edible ink and accessories market. Furthermore, small businesses and new entrants in the edible ink and accessories market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Edible Ink and Accessories Market Report
- Which regions will continue to remain the most profitable regional market for edible ink and accessories market players?
- Which factors will induce a change in the demand for edible ink and accessories during the assessment period?
- How will the changing trends impact the edible ink and accessories market?
- How can market players capitalize on the low-hanging opportunities in the edible ink and accessories market in developed regions?
- Which companies are leading the edible ink and accessories market?
- What are the winning strategies of stakeholders in the edible ink and accessories market to catapult their position in the forefront?
Edible Ink and Accessories Market: Research Methodology
In TMR’s study, a unique research methodology has been used to conduct extensive research on the growth of the edible ink and accessories market, and identify future growth parameters. This research methodology is a combination of primary and secondary research, to help analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the edible ink and accessories market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Information acquired from primary resources and secondary resources has been compiled in a comprehensive manner. This also acts as a validation from companies in the edible ink and accessories market, which makes TMR’s projections more accurate and reliable.
Edible Ink and Accessories Market – Segmentation
TMR’s study on the edible ink and accessories market offers information divided into important segments-product type, application, end use, sales channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.