July 14, 2024

Rising Prevalence Of Food Allergies To Boost The Growth Of The Food Allergen Testing Market

The food allergen testing market consists of tests that help detect the presence of allergenic substances in food products. These tests play an important role in ensuring food safety as they help manufacturers identify potential allergens in food products and label them accordingly. Common food allergens that are tested include milk, eggs, fish, crustacean shellfish, tree nuts, peanuts, wheat and soybean. ELISA (enzyme-linked immunosorbent assay) based tests and PCR (polymerase chain reaction) based tests are mostly used for qualitative and quantitative detection of allergens. Rising food safety concerns coupled with stringent labeling regulations are fueling the demand for effective food allergen testing solutions.

The global Food Allergen Testing Market is estimated to be valued at US$ 831.49 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Traditionally, tests for food allergens involved lengthy procedures that often took days to provide results. However, newer rapid tests can detect common food allergens within two hours. This allows manufacturers to take corrective actions quickly in case positive allergens are detected. Another notable trend is the development of multi-allergen screening tests. Earlier, separate tests were required to check for individual allergens. Today, screening tests are available that can simultaneously test for multiple allergens like gluten, milk, nuts etc. This brings down testing costs and improves turnaround times for manufacturers.

Porter’s Analysis
Threat of new entrants: The threat of new players entering the food allergen testing market is moderate as it requires huge capital investments and rigorous regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate since there are various players offering similar food allergen testing services. However, compliance with food safety standards is crucial.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials required for food allergen testing are commoditized and easily available.
Threat of new substitutes: The threat of substitutes is low as there are limited alternative testing technologies available for detecting food allergens with similar accuracy and throughput.
Competitive rivalry: High due to presence of numerous global and regional players offering similar services. Players differentiate based on technology, testing capabilities, turnaround time and services.

Key Takeaways
The Global Food Allergen Testing Market Size is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing preference for packaged foods and stringent food safety regulations.

Regional analysis: North America dominated the market and accounted for the largest share in 2023 primarily due to increased awareness about food-borne allergens and strict government policies regarding food labeling and quality certifications. Asia Pacific is expected to register the highest CAGR during the forecast period owing to growing health concerns and changing lifestyles in India and China.

Key players: Key players operating in the food allergen testing market are ALS Limited, Asurequality Ltd, SGS SA, Bureau Veritas, Eurofins Scientific SE, Intertek Group PLC, Merieux Nutrisciences Corporation, Microbac Laboratories Inc., Neogen Corporation, Omega Diagnostics Group PLC, Crystal Chem Inc., and Danaher Corporation. Players focus on introducing advanced allergen detection techniques to cater to diverse customer needs.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it