Global Food Allergen Testing Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report indicates that the global food allergen testing market would register growth at a CAGR of 7.01% in the projected phase 2022-2028.
The rise in cases of food allergies in people across the globe is one of the prime factors driving the market growth. In addition, factors like the growth of food trade globally and stringent regulations by the government also support the development of the market.
On the flip side, the problems associated with regulating food processing companies in developing countries are a major hurdle in the path of growth. However, technological advancements in food biotechnology in the last few years present profitable opportunities for market growth.
REGIONAL OUTLOOK
The global market for food allergen testing covers North America, the Asia-Pacific, Latin America, Europe, and the Middle East and Africa.
The market in the Asia-Pacific is expected to exhibit the fastest growth rate in the years to come. With the largest demography of the human population in the world, the region is home to more than 4.7 billion people. The incidence of food allergies is also on the rise here. The rising need for food processing goods for this growing population has propelled the demand for food allergen testing services. This rising demand is expected to foster the market growth in the forthcoming years.
COMPETITIVE OUTLOOK
The key players studied in the report on the food allergen testing market include Symbio Laboratories, ALS Limited, Neogen Corporation, AsureQuality Limited, Intertek Group Plc, SGS SA, Mérieux NutriSciences, Eurofins Scientific SE, Auriga Research Pvt Ltd, Quest Diagnostics Incorporated, Romer Labs Diagnostic GmbH, 3M, TÜV SÜD, Bureau Veritas SA, and Microbac Laboratories.
SGS SA is a renowned market player, providing verification, inspection, testing, certification, and quality control services in Europe, the Americas, the Middle East, Africa, and the Asia-Pacific. It operates in five segments: Health & Nutrition, Connectivity & Products, Natural Resources, Industries & Environment, and Knowledge. The company uses PCR and ELISA testing methodologies to assess the presence of allergens. Its high focus on research & development enables the company to innovate and invent novel products for the market. SGS SA was founded in 1878, and has more than 96,216 employees worldwide.
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