Global Food Allergy Market is estimated to be US$ 7.0 Bn by 2029 with a CAGR of 7.9% during the forecast period – PMI
Covina CA, Feb. 24, 2021 (GLOBE NEWSWIRE) — The Global Food Allergy Market accounted for US$ 3.3 Bn in 2020 and is estimated to be US$ 7.0 Bn by 2030 and is anticipated to register a CAGR of 7.9%. Food allergy market is driven by various factors such as globalization of food trade, growth in incidences of allergic disorders among consumers. Food allergy is an abnormal response cause by various different food products such as milk, soy, wheat, peanuts and various products which are present in the market. Food allergy hampers the immune response of the body, as sometimes body is not able to fight with certain microbes which enter our body through various food products and therefore leading to food allergic responses.
The report “Global Food Allergy Market, By Technology (Biosensor-Based, Immunoassay-Based, ELISA PCR Based and Other Technologies), By Source (Milk, Egg, Soy, Tree Nuts, Peanuts, Wheat, Seafood and Others), By Diagnosis (Primary and Secondary), By Treatment (Anti Histamines and Adrenaline), By End – Use (Hospitals & Clinics, and Diagnostic Centers), By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2029
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- On 21st January 2021, the FARE Clinical Network, a nationwide coalition of 50 academic, research and clinical centers dedicated to providing food allergy patients with access to cutting-edge prevention, diagnosis, care and clinical trials. It’s the , the world’s leading non-governmental organization engaged in food allergy advocacy and the largest private funder of food allergy research, has been awarded two competitive grants that will bolster FARE’s 2020 expansion of the FARE Clinical Network, which will be powering advances in food allergy research.
- In January 2021, Food technology startup Ukko Inc., raised US$ 40 million in a Series B funding round led by Leaps by Bayer, the investment arm of pharmaceutical company Bayer AG, with participation from Continental Grain Co., PeakBridge Ventures, Skyviews Life Science and Fall Line Capital.
- On 11thFebruary 2021, Dr. Angela Hogan,an allergist and immunologist at the Children’s Hospital of the King’s Daughters and the medical advisor for Coastal Food Allergy Support group, shared two announcements about a new therapy treating people with existing peanut allergies, and a guideline to help prevent food allergies.
The growing number of patients suffering from food allergy infections due to different microbes present in food which causes allergic reaction in the body. This leads to low immunological response, supporting the growth of market. Weak immune responses in the body depend on person to person and so the variability of food allergic reaction also differs. The market growth is rising as the cases of food allergy are also rising subsequently. In the January 2021, researchers estimated that 32 million Americans have food allergies, including 5.6 million children under age 18. Data was founded in Food Allergy Research and Education.
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Key Market Insights from the report:
The Global Food Allergy Market accounted for US$ 3.3 Bn in 2020 and is estimated to be US$ 7.0 Bn by 2030 and is anticipated to register a CAGR of 7.9%. The Global Food Allergy Market is segmented based on the technology, source, treatment, diagnosis end-use, and region.
- By Technology, the Global Food Allergy Market is segmented Biosensor – Based, Immunoassay – Based, ELISA PCR Based and Other Technologies.
- By Source, the market is segmented in Milk, Egg, Soy, Tree Nuts, Peanuts, Wheat, Seafood and Others.
- By Diagnosis, the Global Food Allergy Market is segmented into Primary and Secondary.
- By Treatment, the target market is segmented into Anti Histamines and Adrenaline.
- By End-use, the target market is segmented into Hospitals & Clinics, and Diagnostic Centers.
- By Region, the Global Food Allergy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the worldwide leader in the global food allergy market in terms of revenue, due to the developed healthcare system and health awareness among people.
The key players operating in the global food allergy market include include Intertek Group plc, TUV SUD SPB Pte. LTD, Eurofins Scientific, Merieux Nutrisciences, Nestle, ALS limited, Asurequality Ltd, Neogen Corporation, Romerlab Diagnostics Gmbh, SGS SA, Microbac laboratories Inc. food allergy market is involved in product launch, acquisition, and research and development to broaden the product portfolio. For instance, in December 2020, Nestle SA entered into an agreement to acquire Aimmune Therapeutics, Inc., Brisbane, Calif., for US $2.6 billion.
The market provides detailed information regarding the productivity, strength, manufacturer’s industrial base, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent mergers, acquisitions, collaborations, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Food Allergy Market”, By Technology (Biosensor – Based, Immunoassay – Based, ELISA PCR Based and Other Technologies) By Source (Milk, Egg, Soy, Tree Nuts, Peanuts, Wheat, Seafood and Others), By Diagnosis (Primary and Secondary), By Treatment (Anti Histamines and Adrenaline), By End – Use (Hospitals & Clinics, and Diagnostic Centers), By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Market Trends, Analysis, and Forecast Till 2029
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