Food Allergen Testing Market by Source, Technology ), Food Tested And Region - Global Forecast to 2022
LONDON, Aug. 30, 2017 /PRNewswire/ -- "Food allergen testing market projected to grow at a CAGR of 6.8%"
The food allergen testing market is projected to reach USD 760.7 million by 2022, at a CAGR of 6.8% from 2016 to 2022. The market is driven by factors such as implementation of stringent food safety regulations, growing allergic reactions among consumers, and international trade of food materials. Advancements in testing technologies provide new opportunities for market players. The lack of food control infrastructure & resources in developing countries, and the lack of awareness about food safety regulations among food manufacturers are the factors restraining the market growth.
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"The peanut & soy segment is projected to be the fastest growing segment in the food allergen testing market during the forecast period"
The peanut & soy segment is projected to grow at the highest CAGR during the forecast period, due to the large number of peanut & soy allergic patients and presence of peanuts & soy in various products. The increase in food trade and prevalence of allergies due to peanut & soy allergen is also a significant driver. The exposure to these allergens has caused concerns of possible health consequences, which in turn has increased the demand for peanut & soy allergen testing. This is followed by the seafood segment, which is projected to remain the second-largest market through 2022.
"Immunoassay (ELISA) based technology led the market with the largest share in 2015"
The immunoassay (ELISA) technology is found to be the most common and economic technology to detect and quantify allergens in food products. It is projected to grow at the highest CAGR from 2016 to 2022. The method detects and measures a specific protein in a composite mixture and analyses protein samples immobilized in microplate wells using antibodies. Its advantages are low detection limits, high analytic selectivity, high throughput of samples, reduced sample preparation, versatility for target analytics, cost effectiveness for a large number of samples, adaptability to field use. These advantages have been driving the market for Immunoassay (ELISA) based tests in food allergen testing.
"Europe led the market with the largest share in 2015"
Europe was the largest food allergen testing market in 2015. Governing organizations present in the market have enforced various food allergen testing policies. The North American region is projected to be the fastest growing market through 2022 due to the increasing food safety concerns among the consumers and the growing market for processed food. Germany is projected to be fastest growing country in the European region.
The breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study, is as follows:
• By Company type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 30%, Asia-Pacific – 20%, and RoW – 05%
The key players in the food allergen market include:
• SGS S.A. (Switzerland)
• Intertek Group plc (U.K.)
• TUV SUD Psb Pte. Ltd. (Germany)
• ALS Limited (Australia)
• Eurofins Scientific SE (Luxembourg)
The above-mentioned companies collectively accounted for the largest portion of the food allergen testing market in 2015. Other players that also have a strong presence in this market are as follows:
• Merieux Nutrisciences Corporation (U.S)
• AsureQuality Ltd (New Zealand)
• Microbac Laboratories Inc (U.S.)
• Romer Labs Diagnostic GmbH (Austria)
• Symbio Laboratories (Australia).
Research Coverage:
The report focuses on food allergen testing services across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments—source, technology, food tested, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analyses, recent developments, and key market strategies.
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