The Global Food Allergy Market is to Rise at a CAGR of 6.6% by 2023. The increasing prevalence of food allergy, growing adoption of labeling-compliance, rising pediatric population, increasing prevalence of asthma, growing healthcare expenditure, and rising implementation of stringent food safety regulations are the major drivers of the food allergy market. However, factors such as low awareness and lack of food control infrastructure and resources in the middle- and low-income countries are estimated to restrain the market growth during the projected period.
Global Key Players and Competition Analysis
The key players in the global food allergy market are SGS S.A. (Switzerland), Intertek Group plc (U.K.), TUV SUD Psb Pte. Ltd. (Germany), ALS Limited (Australia), Eurofins Scientific (Luxembourg), Merieux Nutrisciences Corporation (U.S), AsureQuality Ltd (New Zealand), Microbac Laboratories Inc (U.S.), Symbio Laboratories (Australia), Romer Labs (Austria), Thermo Fisher Scientific Inc. (U.S.), NEOGEN CORPORATION (U.S.), and others.
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The Global Food Allergy Market is segmented based on allergen source, food tested, tests, products/technology, and end-user. Based on the allergen source, the market is segmented into vegetable allergens, animal allergens, pseudo allergens, and others. Based on food tested, the market is categorized into infant food, processed food, dairy products and alternatives, seafood and meat products, and others. Based on tests, the market is segmented into skin prick test, blood test, oral food challenge, and others. Based on the products/technology, the market is segmented into test kits, ELISA systems, allergen assays, PCR (Polymerase Chain Reaction), allergen assays, and others. The test kits segment is sub-segmented into aflatoxin, Deoxynivalenol (DON), fumonisin, and others. Based on end-users, the market is segmented into hospitals, clinics, diagnostic centers, and others.
The Americas holds the largest share of the global food allergy market owing to the increasing prevalence of food allergy, the presence of a well-developed healthcare sector, and huge health care expenditures within the region. Europe stands second in the market due to the availability of funds for research followed by a huge patient population and strict food regulation standards. On a regional basis, Europe is segmented into Western Europe and Eastern Europe. Western Europe leads the regional food allergy market while Eastern Europe is estimated to be the fastest growing region. Asia Pacific stands third in the global food allergy market and is projected to be the fastest growing region. The presence of developing economies, rising patient population, and increasing government efforts for a labeling-compliance drive the market within the region. The Middle East and Africa holds the least share in the global food allergy market owing to the presence of weak economies, lack of awareness, and poor availability of healthcare services, especially within the African region.
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