Global Food Allergen Testing Market Forecast 2022-2030

Global Food Allergen Testing Market Forecast 2022-2030

KEY FINDINGS

The global food allergen testing market is expected to register a CAGR of 7.33% during the forecast period, 2022-2030. The rising government regulations, the increasing international food trade, and the high prevalence of food allergies propel market growth.

MARKET INSIGHTS

Food allergy is a serious public health concern. The food allergy prevalence is evaluated to be around 6-8% and 2-4% in children and adults, respectively. However, children are the most vulnerable population to food allergy, and are 2-4 times more susceptible to eczema and asthma. The rising number of food allergies is one of the important growth drivers of the global food allergen testing market. For instance, 250 million have food allergies globally. In the US, around 32 million have food allergies. Such aspects have further prompted significant measures by the public health authorities globally to restrict allergic reactions. The market growth restraining factors include the lack of regulations in developing countries. The other major issues faced by developed countries’ food processing industries include smaller in sizes and management by people lacking expertise in food technology.

REGIONAL INSIGHTS

The global food allergen testing market growth evaluation includes the geographical assessment of North America, Europe, Asia-Pacific, and Rest of World. Europe has the largest revenue share as of 2021, given the increased awareness among the population, rapid growth of the food industry, and the growing disposable income contributing to processed foods’ growth.

COMPETITIVE INSIGHTS

There is intense competition for market domination, given the food regulations in developed nations. Some of the prominent companies in the market include SGS SA, 3M, Eurofins Scientific SE, ALS Limited, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments