A recent study published by Transparency Market Research on the edible ink and accessories market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the edible ink and accessories market has been estimated to be valued at ~US$ 23 Mn in 2019, which is projected to expand at a CAGR of ~7%, to reach US$ 45 Mn by 2029.
Rising Penetration of Café Culture and Social Media Boom to Propel Market Growth
With the booming manufacturing sector and improving economic conditions, consumer spending across various domains has increased, benefiting edible ink and accessories market. The rising consumer spending has led to increased use of smart phones and social media boom.
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This is westernizing Asian and Middle Eastern countries in terms of eating habits and leisure experiences. The demand for bakery and baked goods is increasing, and bakery chain culture and café culture has become widespread across globe. New artisanal bakery products are found on the shelves, capturing the eye and taste of consumers. Edible ink and accessories market is propelling due to the increasing popularity of photo cakes and photo coffee products. Moreover, increasing food blogging has led to globalization of the food & beverages industry, creating awareness about new food products. The demand in the edible ink and accessories market is increasing as a result of the rising usage of social media platforms for product publicity.
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High Demand for Premium and High Precision Products Creating Opportunities
For artisanal bakery, precision is of equal importance to taste. High appeal to customers is the primary step to boost sales, when it comes to bakery and confectionery products. This is a key factor fueling the demand for edible inks and accessories in the global market. Using edible ink printing is simpler. It reduces labor time and creates high precision image on food products, such as cakes, pastries, candies, cookies, and coffee. Moreover, the time required for the edible ink printing is lesser compared to the time taken in the hand decorating process. These aspects of edible ink printing enables highest quality products for bakery and confectionery sector driving sales in the edible ink and accessories market.
Approvals from U.S. FDA and Japanese Sanitation to Increase Demand
Edible printing uses normal printer for printing images or photo on food products using edible ink. Cartridges and few other parts of the printer need to be adjusted, since the edible ink viscosity is different and cannot function with the normal printer. Ink used for edible printing is edible food additive/ colorant. Few of these food additives have been approved by the Japanese Sanitation Act and granted the GRAS status by the U.S. Food and Drug Administration. The approval from the global food and beverage regulating bodies is likely to bolster sales in the edible ink and accessories market. These approvals are likely to gain traction from various bakery manufacturers, distributors, and vendors, and increase the demand in the global edible ink and accessories market.
New Marketing Techniques to Increase Awareness about Product
At present, the edible ink and accessories market is restricted by the limited availability of skilled and talented workers. Since equipment and parts are comparatively expensive, any printing error and repairing could incur high expenditure. With a proper marketing channel to gain traction from youth and kids, the demand for edible ink and accessories could increase in the coming years. Current marketing techniques are unlikely to have the proposed effect on the sales of the edible ink and accessories products in developing countries such as, Brazil, India, Turkey, Indonesia, and others.