The global food allergen testing market is expected to grow by USD 783.20 million as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 6%.
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Technavio has announced its latest market research report titled Global Food Allergen Testing Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on "Food Allergen Testing Market Analysis Report by Technology (LC/MS technology, Immunoassay/ELISA technology, and PCR technology), Geography (North America, Europe, APAC, and ROW), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/food-allergen-testing-market-industry-analysis
The market is driven by increasing allergic reactions among individuals. In addition, increasing product launches are anticipated to boost the growth of the food allergen testing market.
The rising consumption of processed foods has significantly contributed to the prevalence of food allergies across the world. These allergies can range from mild symptoms such as rashes to anaphylactic shock leading to death. The prevalence of food allergies is high among children. For example, about 50% of children suffer from food allergies in the UK alone. The prevalence of food related-allergies is expected to affect nearly 4 billion individuals by 2050. These factors are increasing the demand for food allergen testing, which is driving the growth of the market.
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Major Five Food Allergen Testing Companies:
3M Co.
3M Co. operates its business through segments such as Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The company offers allergen testing to detect both processed and unprocessed proteins with a simplified workflow.
ALS Ltd.
ALS Ltd. operates its business through segments such as Life Sciences, Commodities, and Industrial. The company offers a wide range of in-house and partner laboratory allergen testing, providing extensive support to the food manufacturing industry.
Bio-Rad Laboratories Inc.
Bio-Rad Laboratories Inc. operates its business through segments such as Life Science and Clinical Diagnostics. The company offers iQ-Check Real-Time PCR Kits. It is used in the qualitative detection of major pathogens in food and environmental samples.
Bureau Veritas SA
Bureau Veritas SA operates its business through segments such as Marine and Offshore, Agri-Food and Commodities, Industry, Buildings and Infrastructure, Certification, and Consumer products. The company offers allergen testing for products such as peanut, gluten, soy, milk, and egg, among others by utilizing accredited ELISA-based methods.
Eurofins Scientific SE
Eurofins Scientific SE operates its business through segments such as Western Europe, North America, and Rest of the World. The company offers tests to analyze multiple allergens via LC-MS/MS method for products such as meat and meat products, baby foods, sweets, and pet food, among others.
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Food Allergen Testing Market Technology Outlook (Revenue, USD Million, 2020-2024)
- LC/MS technology
- Immunoassay/ELISA technology
- PCR technology
Food Allergen Testing Market Geography Outlook (Revenue, USD Million, 2020-2024)
- North America
- Europe
- APAC
- ROW
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