Market Overview:
The global Food Allergen Testing Market is estimated to be valued at US$721.49 million in 2021 with a CAGR of 7.26% during the forecast period of 2022-2030, according to a new report published by Coherent Market Insights. The market is witnessing significant growth due to the increasing prevalence of food allergies and the rising demand for allergen-free food products. Moreover, regulatory agencies across the globe are implementing stringent regulations regarding allergen labeling, which is further driving the market growth. However, the high cost associated with allergen testing methods and the lack of skilled professionals in this field are some of the major obstacles hindering the market growth.

Market Key Trends:
One key trend in the Food Allergen Testing Market is the growing consumer awareness about food allergies and the importance of allergen labeling. With the increasing number of people suffering from food allergies, consumers are demanding more transparency in food products. This has led to a rise in the adoption of allergen testing methods by food manufacturers to ensure the safety of their products. For example, major food companies like Nestle and Hershey’s have started labeling their products with detailed allergen information to cater to the needs of allergic consumers.

Segment Analysis:
The Food Allergen Testing Market is segmented based on allergen type, technology, application, and region. The dominating segment in this market is the peanut allergen type segment. Peanuts are one of the most common allergens, and their consumption can lead to severe allergic reactions. As a result, there is a high demand for accurate peanut allergen testing methods from both food manufacturers and consumers. This dominance can be attributed to the increasing prevalence of peanut allergies and the growing number of peanut-related product recalls due to undeclared peanut allergens.

Key Takeaways:
The global Food Allergen Testing Market is expected to witness high growth, exhibiting a CAGR of 7.26% over the forecast period. The increasing prevalence of food allergies, along with stringent regulations regarding allergen labeling, are the key drivers for market growth. For instance, in the United States, the Food Allergen Labeling and Consumer Protection Act (FALCPrequires food manufacturers to label products that contain major food allergens. This has led to an increased demand for allergen testing methods to ensure compliance with regulations.

In terms of regional analysis, North America is the fastest-growing and dominating region in the Food Allergen Testing Market. This can be attributed to the high prevalence of food allergies, strict regulations, and the presence of major key players in this region. The market in Asia Pacific is also expected to witness significant growth due to the changing dietary patterns, increasing urbanization, and rising awareness about food allergies among consumers.

Key players operating in the global Food Allergen Testing Market include ALS Limited, Asurequality Ltd, SGS SA, Bureau Veritas, Eurofins Scientific SE, Intertek Group PLC, Merieux Nutrisciences Corporation, Microbac Laboratories Inc., Neogen Corporation, Omega Diagnostics Group PLC, Crystal Chem Inc., and Danaher Corporation. These players are focusing on strategic collaborations, product launches, and technological advancements to gain a competitive edge in the market.

In conclusion, the global Food Allergen Testing Market is driven by the increasing prevalence of food allergies and the rising demand for allergen-free food products. With growing consumer awareness and stringent regulations, the market is expected to witness significant growth in the coming years. Players in this market are investing in research and development activities to develop advanced allergen testing methods to cater to the needs of the food industry and ensure consumer safety.