The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Food Allergen Testing Global Market Report 2023, the food allergen testing market is expected to show significant growth in the forecast period.

Market Overview

• Recent Growth: The food allergen testing market expanded from $0.91 billion in 2023 to $1.01 billion in 2024, with a CAGR of 10.3%.
• Future Projections: The market is anticipated to reach $1.5 billion by 2028, growing at a 10.5% CAGR.

Historical Growth Drivers

• Increased food allergies: A rise in food allergies has heightened the need for thorough allergen testing.
• Stringent regulations: Governments worldwide are enforcing stricter food safety regulations.
• Consumer awareness: People are more conscious of food allergens and demand safer products.
• Global food supply chains: As food trade becomes more globalized, rigorous testing is essential.
• Technological advancements: Innovations in testing technologies have enhanced the accuracy and speed of allergen detection.

View More On The Food Allergen Testing Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/food-allergen-testing-global-market-report

Future Growth Drivers

• Expanding regulations: New and evolving food industry regulations will continue to drive market growth.
• Allergen-free products: There’s a growing demand for products free from common allergens.
• Technological innovations: Continued advancements in testing methods will improve detection capabilities.
• Global increase in food allergies: Rising incidences of allergies will fuel the need for testing.
• Focus on food safety: Quality assurance in food production is becoming increasingly critical.

Impact of Rising Food Allergies

• Driving market growth: The rising incidence of food allergies, influenced by genetics, environmental factors, and dietary changes, is a key market driver.
• CDC findings: In 2021, 6.2% of adults and 5.8% of children in the U.S. reported food allergies, highlighting the need for rigorous allergen testing.
• Importance of testing: Accurate allergen testing prevents allergic reactions, protecting consumers with food sensitivities.

Major Market Players

• Leading companies: Thermo Fisher Scientific, Ecolab Inc., Eurofins Scientific, SGS SA, and others lead the market.
• Innovation focus: Companies are developing new tests and technologies to stay competitive.

Innovations in Allergen Testing

• Rapid gluten tests: New immunochromatographic assays like the SENSIStrip Gluten PowerLine offer quick and accurate detection of gluten, reducing false negatives.
• Key features: These tests use monoclonal antibodies for sensitive detection and include a hook line to avoid false-negative results.

Strategic Acquisitions

• ALS Limited’s expansion: In March 2024, ALS Limited acquired York Analytical Laboratories and Wessling Holding GmbH & Co. KG for $148.03 million.
• Acquisition goals: Strengthen market presence, diversify services, and gain a competitive edge in the life sciences and analytical testing sectors.
• Company profiles: York Analytical specializes in food intolerance and allergy testing, while Wessling Holding provides analytical services across various industries.

Market Segmentation

• By Test Type: Allergen Testing, Intolerance Testing.
• By Technology: Biosensors, Immunoassay (ELISA), PCR, Other Technologies.
• By Application: Seafood, Meat Products, Dairy, Beverages, Bakery, Baby Food, and more.

Regional Insights

• North America: The largest market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region in the forecast period.

Request A Sample Of The Global Food Allergen Testing Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=15569&type=smp