PUBLISHER: Inkwood Research | PRODUCT CODE: 1091865
PUBLISHER: Inkwood Research | PRODUCT CODE: 1091865
The Asia-Pacific food allergen testing market is projected to record a CAGR of 8.15% during the forecast period, 2022-2030. The rising awareness with regard to food safety and food allergies in East Asian countries like Singapore, China, South Korea, Japan, and developed countries like New Zealand. Such aspects have enabled the implementation of norms and regulations.
South Korea, China, Japan, Thailand, Australia & New Zealand, Vietnam, India, and Rest of Asia-Pacific are analyzed for the Asia-Pacific food allergen testing market growth evaluation. In Japan, in 2020, the food processing industry produced $218.3 billion of food and beverage products, as per the United States Department of Agriculture (USDA). Also, the country's number one agricultural trading partner is the United States, a reliable supplier of high-quality and safe foods. Additionally, Japan is one of the most important food markets with an excellent food safety reputation and high standards worldwide. Besides, the high food allergen awareness among the population is attributed to the decades of education, innovation, and industrialization. Moreover, the food regulatory body recommends labeling for allergens like abalone, salmon roe, kiwi fruit, sesame, walnut, mackerel, cashew nut, etc.
In Thailand, the food & beverage industry is the third-largest industry, accounting for 21% of the GDP. In addition, in 2020, the Thai processed foods exports were valued at $19.4 billion. Also, food products are necessitated to bear labels with information in the Thai language, like the main ingredients, name, address & name of the manufacturer, as per the Notification of the Ministry of Public Health No. 194. Such factors boost market demands in these countries.
Some of the eminent companies in the market include: AsureQuality Limited, Intertek Group Plc, Auriga Research, Merieux Nutrisciences, etc.