The food allergen testing market plays a vital role in ensuring the safety and well-being of consumers suffering from various food allergies. Food allergen testing helps identify hidden allergens in food products that can cause adverse reactions in susceptible individuals. It detects the presence of major food allergens like peanuts, tree nuts, milk, eggs, wheat, soy, fish, and shellfish. Given the rise in cases of food allergies globally, it is crucial to conduct thorough testing of food products to prevent allergic reactions.
The Global Food Allergen Testing Market is estimated to be valued at US$ 957.88 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 To 2031.
Key Takeaways
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’Oréal S.A., Revlon, Inc., Johnson & Johnson, Natura & Co., and Coty Inc. The growing incidences of food allergies and rising consumer awareness about food labeling are fueling the demand for advanced allergen testing methods. Major companies are expanding their global footprint to cater to the growing need for food allergen testing solutions across geographies.
Key players operating in the food allergen testing are Fable & Mane, Henkel AG, Procter & Gamble Co. These companies offer a wide range of testing kits and equipment for detecting major food allergens.
The growing demand in the Food Allergen Testing Market Growth can be attributed to the increasing prevalence of food allergies worldwide. According to research, nearly 220-250 million people suffer from food allergies globally. This calls for stringent food labeling regulations and widespread adoption of advanced testing solutions.
Major companies operating in the food allergen testing market are expanding their global footprint to address the surging need for reliable allergen detection across regions. For instance, Fable & Mane recently established new production and R&D facilities in Latin America and Asia to augment its presence outside western markets.
Market Key Trends
The rising popularity of enzyme-linked immunosorbent assays (ELISA) presents significant opportunities in the food allergen testing market. ELISA testing delivers fast, accurate, and quantitative allergen detection with high sensitivity. It has emerged as the gold standard for detecting trace amounts of allergens in foods. Moreover, the use of next-generation sequencing (NGS) for food allergen testing is gaining ground. NGS provides a more detailed analysis of genomic signatures compared to PCR-based methods for comprehensive screening of various allergens simultaneously.
Porter’s Analysis
Threat of new entrants: High costs of R&D, regulations and certification act as a barrier for new entrants. Bargaining power of buyers: Many substitute products provide options to buyers, lowering their dependence on any single supplier. Bargaining power of suppliers: Few international players control majority of market share giving them upper hand in negotiations. Threat of new substitutes: Plant-based and lab grown alternatives pose threat of substitution. Competitive rivalry: Intense competition exists among existing players to gain market share and expand geographically.
Geographical Regions
North America currently holds the major share of food allergen testing market value owing to stringent regulations and growing awareness. Factors such as mandatory food labeling, rising number of food processing establishments have boosted the regional market.
Asia Pacific region is estimated to witness fastest growth during the forecast period. This can be attributed to increasing health consciousness, rapid urbanization and growing middle class population in countries like India and China. Rising foodborne illness incidents are compelling government agencies in the region to tighten food safety norms thereby augmenting market opportunities.