by The food allergen testing market plays a critical role in ensuring food safety as these tests help detect the presence of unintended allergens in food products. Regular food allergen testing enables manufacturers to formulate allergen-free food products for consumers with specific dietary needs. It also helps comply with stringent food labeling norms.
The global food allergen testing market is estimated to be valued at US$ 957.88 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising health consciousness among individuals suffers from food allergies has augmented the demand for accurate food allergen testing. When introduced to an allergen, people with food allergies can experience symptoms that range from minor to life-threatening. Therefore, many consumers closely monitor food labels for common allergens like gluten, nuts, eggs, dairy, soy, fish, and shellfish. The advent of novel immunoassay-based rapid testing methods has enabled easy and quick detection of food allergens. Their ability to deliver test results within minutes without the need for advanced laboratory setup has boosted their adoption among food manufacturers.
SWOT Analysis
Strength: The food allergen testing market is driven by rising incidences of food allergies. Strict government regulations regarding food safety is also boosting demand.
Weakness: Lack of awareness in developing regions can hamper market growth. Variations in testing methods and quality of tests is another challenge.
Opportunity: Untapped growth potential exists in Asia Pacific and Middle East & Africa. Growing adoption of rapid testing kits presents an opportunity for key players.
Threats: High capital investments required for setting up laboratories poses threats. Threat of substitutes such as alternative testing technologies also impacts the market.
Key Takeaways
The Global Food Allergen Testing Market Size is expected to witness high growth. The global food allergen testing market is estimated to be valued at US$ 957.88 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.
North America currently dominates due to stringent rules for food labelling. However, Asia Pacific is projected to grow at the fastest pace considering rising health awareness and policy upgrades in major countries.
Key players operating in the food allergen testing market are Fable & Mane, Henkel AG, Procter & Gamble Co., Unilever Corporation, Kao Corporation, Aveda Corporation, Avon Products Inc., L€TMOreal S.A., Revlon, Inc., Johnson & Johnson, Natura & Co., and Coty Inc. The market is competitive with these companies focusing on new product launches and mergers to gain shares.
Rising prevalence of allergies has prompted industry leaders to innovate rapid and accurate testing solutions. Ultrasensitive techniques like polymerase chain reaction (PCR) are being increasingly deployed. This allows detection of traces of allergens helping producers formulate safer food products. manufacturers are also providing customized test kits and services to different end-users.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
