Technavio analysts forecast the global food allergen testing marketto grow at a CAGR of more than 6% during the forecast period, according to their latest report.
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Technavio has published a new report on the global food allergen testing market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global food allergen testingmarketfor 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
Factors such as stringent government regulations on food safety and rising globalization of food market are driving the growth of the food allergen testing market. Governments in various countries across the globe have established standards, policies, and regulatory framework related to food safety aspects. Also, the increasing globalization of the food market is likely to provide vast opportunities for vendors, thereby driving the market growth.
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Technavio analysts highlight the following four factors that are contributing to the growth of the global food allergen testing market:
- Increasing allergic reactions among individuals
- Rising globalization of food market
- Growing awareness of food allergens
- Labeling compliance in several food industries
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Increasing allergic reactions among individuals
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 five years. In the UK alone, around 50% of the children suffer from allergies.
Bharath Kanniappan, a lead infectious and rare diseases research analyst at Technavio, says, "An increase in the consumption of processed foods is one of the factors contributing to an upsurge in allergic reactions. Although soy is an allergen, it is widely used in processed foods. This has increased the prevalence of food allergies, thereby, driving the demand for allergen testing."
Rising globalization of food market
The food industry has joined the list of global sectors. This is because various food firms are expanding their reach into foreign markets. An increase in food trading activities such as import and export are likely to extend the geographical reach of allergens and heighten the chances of contamination due to insufficient food control measures and monitoring in various parts of the globe.
Growing awareness of food allergens
People have increasingly become aware of food allergens and their associated symptoms. Food products free from allergen are gaining significant impetus, driven by individuals who have become significantly health conscious. Consumers of processed food have even started taking interest to self-manage allergens to prevent allergic conditions. Occurrences of consumer complaints and food recall due to labeling errors or contamination have driven the growth of the global food allergen testing market.
Labeling compliance in several food industries
In many countries, the food industry should follow a legal compliance to label allergens in their food products. Since there is no permanent remedy for food allergies, sensitive individuals can avoid getting affected by relying on food labels with appropriate information on the content.
"Food manufacturers, sometimes label their products using phrases such as, "may contain" to indicate that the food product could have traces of allergens, which may have accidentally entered during the production process. Food labeling with statutory warnings about allergens has made it easier for consumers to opt for anti-allergy diets," adds Bharath
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