Market Research Report
Food Allergen Testing Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||572848|
|Published||Content info||100 Pages
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|Food Allergen Testing Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 100 Pages||
The global food allergen testing market is projected to register a CAGR of 8.32% during the forecast period (2020 - 2025).
Increasing Prevalence of Food Allergies
Food allergy has emerged as a serious public health concern. The prevalence of food allergies is estimated to be around 2-4% in adults and 6-8% in children. Children are the most vulnerable population group to food allergy. Tthey are also two to four times more vulnerable to other allergic conditions, such as asthma or eczema. The global food allergen testing market is driven by the increasing number of food allergies reported to medical establishments. Although children and teenagers are more prone to food allergies, at least 15% of food allergies are diagnosed for the first time in adulthood. Moreover, with the adverse non-toxic reactions (hypersensitivity), the prevalence rate of food allergies is mounting exponentially. The rising number of food allergy cases have prompted public health authorities around the world to take significant measures to curb the allergic reactions and its consequences.
Europe to Witness Significant Growth During the Forecast Period
Europe is projected to be one of the fastest-growing regions in the food allergen testing market, due to stringent policies that were established to achieve high levels of food safety in the region. Peanuts, tree nuts, and fish are some of the common allergenic foods that caused frequent allergies in the European population. The prevalence of food allergy in Europe is uncertain. The prevalence of food allergy in Europe was estimated to be between 3% and 4 %, in children and adults, respectively. More than 17 million Europeans have a food allergy, and hospital admissions for severe reactions in children rose by seven-fold during the past decade, according to the European Academy of Allergy and Clinical Immunology. One of the main objectives of the Joint Research Centre (JRC) of the European Commission is to minimize the occurrence of food allergic reactions triggered by the consumption of undeclared allergens. The food allergen testing market in Europe is driven by the rising awareness among Europeans regarding their sensitivities to certain foods, coupled with the strictest compliance enforced by regulatory authorities.
The global market of the food allergen is highly dynamic and intensely competitive, with key players looking for greater market penetration, especially in the developed markets, where the regulatory compliance is the strictest and the public awareness regarding food allergens is also high. Major players in the global food allergen testing market include Neogen Corporation, Eurofins SGS Group, Bureau Veritas, Intertek Group PLC, and TUV SUD.