Global Food Allergen Testing Market is Estimated To Witness High Growth Owing To Rising Awareness About Food Allergies & Food Safety Regulations

The global Food Allergen Testing Market is estimated to be valued at US$ 721.49 million in 2021 and is expected to exhibit a CAGR of 7.26% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The Food Allergen Testing Market involves the detection and quantification of allergenic substances in food products. With the increasing prevalence of food allergies and intolerances, consumers are becoming more conscious about the ingredients present in their food. This has led to the implementation of stringent food safety regulations by regulatory bodies worldwide, mandating food manufacturers and retailers to conduct regular food allergen testing to ensure consumer safety. The market offers various testing techniques, including immunoassay-based testing, PCR-based testing, and others. These techniques help in identifying allergenic ingredients such as peanuts, tree nuts, milk, eggs, soy, wheat, fish, and shellfish, among others.

Market Dynamics:
1. Driver: Rising Awareness About Food Allergies
The increasing prevalence of food allergies among the global population is a major driver for the Food Allergen Testing Market. According to the National Institute of Allergy and Infectious Diseases, food allergies affect approximately 7.6% of children and 10.8% of adults in the United States. Moreover, the World Allergy Organization estimates that food allergies affect 5-8% of children and 1-2% of adults worldwide. These statistics highlight the need for reliable allergen testing methods to prevent allergic reactions and ensure food safety.

2. Opportunity: Stringent Food Safety Regulations
Stringent food safety regulations imposed by regulatory bodies such as the Food and Drug Administration (FDA), European Food Safety Authority (EFSA), and the International Organization for Standardization (ISO) present a significant opportunity for the Food Allergen Testing Market. These regulations mandate food manufacturers to label their products accurately and ensure that allergenic ingredients are properly declared. This has resulted in increased demand for food allergen testing methods to comply with these regulations and maintain consumer trust.

Segment Analysis:
The Food Allergen Testing Market can be segmented based on testing type, allergen type, food tested, and region. The immunoassay-based testing segment dominates the market due to its wide application and accuracy in detecting allergens. Among allergen types, the market is primarily driven by the testing of peanuts and tree nuts, followed by milk and dairy products. The bakery and confectionery segment holds the largest market share in terms of food tested, as these products often contain multiple allergenic ingredients.

PEST Analysis:
Political: The implementation of food safety regulations by governments across the globe plays a crucial role in shaping the Food Allergen Testing Market. These regulations aim to protect consumer health and ensure transparent food labeling.

Economic: The growing global food industry and increasing disposable incomes of consumers contribute to the growth of the Food Allergen Testing Market. As consumers become more aware of food allergies, they are willing to pay a premium for allergen-free or properly labeled products.

Social: The rising prevalence of food allergies and intolerances, coupled with increased consumer awareness about allergenic ingredients, drives the demand for food allergen testing. Social media platforms and awareness campaigns play a vital role in spreading knowledge about food allergies and the importance of allergen testing.

Technological: Advancements in technology have led to the development of more efficient and accurate allergen testing methods. PCR-based testing and DNA-based techniques have gained popularity for their ability to detect trace amounts of allergens.

Key Takeaways:
– The global Food Allergen Testing Market is expected to witness high growth, exhibiting a CAGR of 7.26% over the forecast period, due to increasing awareness about food allergies and the implementation of food safety regulations.
– North America dominates the market, driven by stringent regulatory policies and a high prevalence of food allergies in the region.
– Key players operating in the global Food Allergen Testing Market include ALS Limited, Asurequality Ltd, SGS SA, Bureau Veritas, Eurofins Scientific SE, Intertek Group PLC, Merieux Nutrisciences Corporation, Microbac Laboratories Inc., Neogen Corporation, Omega Diagnostics Group PLC, Crystal Chem Inc., and Danaher Corporation. These players focus on new product launches, acquisitions, and partnerships to expand their market presence and cater to the growing demand for food allergen testing.

In conclusion, the global Food Allergen Testing Market is anticipated to witness significant growth due to the rising awareness about food allergies and the enforcement of food safety regulations. As consumers become more conscious about the ingredients in their food, the demand for accurate and reliable allergen testing methods will continue to increase.