3D printing has gone through tremendous improvements over the years and has recently made a grand entrance into the manufacturing industry. Through consolidation in mergers and acquisitions, 3D printing is set to revolutionize the manufacturing industry. Some of the major contributions to the food industry include:
The Impact On The Food Industry
Recently, 3D printing has ventured into mergers and acquisitions. Quick service restaurants comprise the largest segment in the franchising industry with over $250 billion, followed closely by business services with $100 billion of the industry’s total economic output. Acquiring smaller companies gives them a footing in penetrating faster-growing segments. The acquisition allows companies to expand their portfolios and get more opportunities in various markets.
Given that the food industry is one of the most significant in-service segments, 3D printing could revolutionize how customers perceive products and influence consumer habits. Technology can customize and tailor consumer needs in the production and manufacturing of food products. This, in turn, will significantly increase the supply chain and enhance food security and sustainability.
3D printing has brought about individual customization in food products. Manufacturers can now alter the flavor, nutritional content, and color of the food according to a consumer’s preferences. Therefore, you can find food for particular groups of people, from athletes to pregnant women, all tailored to meet their specific needs and tastes.
How 3D Printing Can Help
3D printing helps in minimizing wastage of raw materials in manufacturing. Using only the required amount of raw materials helps manufacturers avoid over-supplying with targeted food production, which is great in enhancing food security for an increasing population. This allows sustainability in food production. The process has helped manufacturers as between 2018 and 2019, the number of manufacturers using 3D printing in full-scale production increased from 21% to 40%. According to Essentium, this value is from the US merger and acquisitions that took place between 2014 and 2019. It shows manufacturers are quickly embracing 3D printing in food production.
3D printing can help you maintain a healthy lifestyle by eating healthy and nutritious food regularly. It is also cost-effective and faster in design and production. Once the cost of production has been reduced, the retail price for the consumer also decreases. This means the food has become more affordable and accessible to a larger number of people.
How We’re Already Seeing A Shift In Promoting 3D Printing
3D food printing is set to create a massive shift globally. The acquisitions and mergers bridge the gap between small-scale and large-scale businesses while allowing consumers to choose the food they want to eat. For instance, in 2019, the value of M&A deals amounted to approximately $1.58 trillion. Already, we have started to witness some notable changes in manufacturing in the food industry. Some include:
Food manufacturers are aiming to produce better and healthier food for their consumers. For instance, PepsiCo recently ventured into using 3D printing for healthier potato chips. Obesity is a global problem, and to address it, the company is looking into making the common foods linked to obesity healthier. By using fresh ingredients and strict control on portions, they reduce overconsumption.
Customers are largely influenced by aesthetics and are more inclined to make a purchase when they see something beautiful. Chefs and cooks are therefore leveraging 3D printing to create beautiful looking foods in different shapes and colors.
The demand and supply chain have come in handy in the management of food inventory. Manufacturers have an easier time by only manufacturing food as per customers’ demand.
3D printing technology is constantly evolving and presenting new possibilities in the world of manufacturing. With an increasing population, it is crucial to minimize food wastage and safeguard food security. The many benefits of 3D printing make it an exceptional technology that will transform food production in the long run.
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