Edible Gold Market - Forecast (2023 - 2030)

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COVID-19/Ukraine Crisis - Impact Analysis:

The COVID-19 pandemic has significantly impacted the edible gold market, with declining demand observed in key sectors such as food and beverages, cosmetics, and medical. Reduced restaurant and bar sales have resulted in lower consumer spending on luxury items, leading to decreased demand for edible gold in food and beverage products. Similarly, the cosmetics industry has experienced a decline in consumer spending on luxury goods and beauty treatments, reducing the demand for edible gold in cosmetics. Additionally, the medical industry has seen a decrease in non-essential treatments and elective surgeries, resulting in reduced demand for edible gold in medical applications.

The Ukraine crisis adversely affected the edible gold market. The crisis contributed to a global economic downturn, leading to reduced demand for luxury goods. Edible gold, being considered a luxury item, witnessed a decline in its market. Furthermore, the crisis caused a surge in gold prices as well as making edible gold more expensive and potentially discouraging demand for the product.

 Key Takeaways:

Fastest Growth of Europe Region

Geographically, in the global Edible Gold market, Europe is analyzed to grow with the highest CAGR of 4.9% during the forecast period 2023-2030 owing to the increasing demand in the food and beverage industry, growing adoption in the cosmetic industry, rising popularity in the art and craft industry. Additionally, the growing popularity of special events and celebrations such as weddings, anniversaries and festivals where edible gold is often used as a decorative element in food and beverages are driving the Edible Gold Market in the Europe region. In 2023, NORIS, a Spanish company, introduced a novel sparkling water named Oro Vivo, which incorporates the infusion of gold.

Cosmetics to Register the Fastest Growth

In the Edible Gold Market analysis, the Cosmetics segment is estimated to grow with the highest CAGR of 5.1% during the forecast period. The growth is attributed to the rising consumer preference for natural and organic cosmetics and the potential benefits associated with edible gold as an ingredient in cosmetics. For instance, the Swiss Skin Test Institute (SSTI) conducted a study on the Gold Cosmetics products shows that 29% of skin tested has improved through use of 24 Karat gold leaf-based products.  

Purity Less than 95% is Leading the Market

According to the Edible Gold Market forecast, the Purity Less than 95% held the largest market valuation of $520 million in 2022. The growth of Purity Less than 95% is attributed to the cost-effectiveness, desired visual effects, and flexibility. Additionally, it is used for decorative purposes such as in art, craft or gilding applications.  

Increasing Demand for Edible Gold in the Beverage Industry

Edible gold has gained significant popularity in the beverage industry owing to the growing trend of experiential drinks, consumer preference for premium and high-quality beverages. It is often used to add a touch of luxury to cocktails, wines and other beverages. Consumers are more interested in unique and visually appealing beverage products, which increases the demand for edible gold. In 2023, according to a study conducted by the National Coffee Association, it was discovered that a notable portion of coffee drinkers, specifically 20% of them, have experienced the addition of edible gold in their coffee.

Adoption of Edible Gold in the Bakery and Confectionery Industry

Edible gold is used increasingly in bakery and confectionery products such as cakes, pastries and chocolates to add a touch of luxury and sophistication. The use of edible gold in these products enhances their visual appeal and helps to differentiate them from other products in the market. In 2023, as per a study conducted by the National Retail Federation, it was revealed that a significant proportion of consumers, specifically 15% of them, have made purchases of bakery or confectionery products that contain edible gold.

High Cost Hamper Market Growth

Edible gold is a premium and luxury product that has the high cost of production, packaging, and shipping. The high cost makes the edible gold inaccessible to many consumers, especially those with lower disposable incomes. This is one of the major factors which hampers Edible Gold Market growth.

 Edible Gold Market Share (%) By Region, 2022

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Edible Gold Market. The top 10 companies in this industry are listed below:

1. DeLafée International SARL (DeLafée Pure Gold, DeLafée Moon Gold)

2. CornucAupia Gold Leaf Manufacturing, Inc. (24 karat edible gold flakes)

3. Neuberg & Neuberg Importers Group, Inc. (Gold Chef Powders, Gold Chef Gold Crumbs)

4. Wrights Of Lymm (24ct Pure Gold Leaf, 23ct Gold Leaf Large Flakes)

5. HORI METAL LEAF & POWDER CO.,LTD(GOMOU, MAIKO)

6. GIUSTO MANETTI BATTILORO S.p.A. (Manetti Battiloro Beauty Gold)

7. J.G. Eytzinger GmbH (GoldGourmet® Gold Pixie, GoldGourmet® Gold Flakes)

8. NORIS BLATTGOLD GmbH (GOLD-Shaker GOLDMARIE hearts, GOLDMARIE GOURMET)

9. GERSTENDÖRFER GmbH (Gold Deco Blattgold-Flocken, )

10. The Gold Leaf Company (Gold Transfer Sheets 23KT)

 Scope of the Report: