Market Research Report
India Food Allergen Testing Market Forecast 2022-2028
|India Food Allergen Testing Market Forecast 2022-2028|
Published: June 21, 2022
Content info: 150 Pages
Delivery time: 2-3 business days
The India food allergen testing market growth is predicted to progress at a CAGR of 9.21% during the forecast period, 2022-2028. The growing health consciousness among the population and the demand for transparency regarding products and their nutritional value.
India has consistently ranked among the top five agricultural producers globally. For instance, as per the Indian Commerce and Industry Ministry, agricultural exports increased by around 20% during 2021-22, despite logistical challenges imposed by the pandemic. Also, it has the second-largest population worldwide, making it one of the biggest food product consumers. In addition, the demand for processed food items is estimated to rise, attributed to the increasingly young and urban population.
Further, strict food safety rules and regulations are set to propel agricultural exports. Additionally, the country's food processing sector is one of the largest globally, with its output evaluated to garner $535 billion by 2025-2026, as per government sources. Therefore, the increasing disposable income and the thriving processing industry offer ample growth opportunities for the food allergen testing industry in India. At the same time, the country lacks a robust mechanism for regulating allergen products in food items. As a result, the growing food industry, large population, and growing disposable income constitute the India food allergen testing market prospects.
Some of the key market players include: Auriga Research, Quest Diagnostics Inc, ALS Limited, etc.