The global food allergen testing market to grow at a CAGR of 6.28% during the period 2017-2021.
Global Food Allergen Testing Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers sales value of the equipment used to test food allergens.
According to the report, one driver in the market is increasing allergic reactions among individuals. Globally, people have been diagnosed with more than one allergic conditions in the primitive age itself over the past decade. In addition, countries have not reported any reduction in food allergies during the period. The rate of allergy has increased, affecting people globally at some stages in their lives. With the rise in allergic reactions, the prevalence is estimated to reach up to 4,000 million people globally by 2050. The increase in hospitalization rate of children, affected by food allergy, in Europe, also witnessed an increase over the past 5 years. In the UK alone, around 50% of the children suffer from allergies.
One trend in the market is rising improvisation and development of testing technology. The improvisation and development on the allergen testing technology offer new opportunities for the current market players. This is leading to the growth of the global food allergen testing market. The deployment of various innovative techniques and equipment in food allergen testing techniques is significantly contributing to the growth of the global allergen testing market.
Further, the report states that one challenge in the market is absence of standardized procedure for allergen testing practices. The lack of a standardized procedure for allergen testing, despite having regulatory policies at regional and national levels can act as a deterrent to the global food allergen testing market. There is no consistent approach or guideline followed on allergen identification, management, and labeling. In 2013, Food and Drink Federation (FDF)developed specific procedures for harmonizing allergen management at a European level. However, at present, there are no harmonized agreed-upon guidelines or procedures for allergen testing practices that are being followed across the food industry.