Market Overview:

The Food Allergy Market size is expected to grow from USD 38 Billion in 2022 to USD 56.14 Billion by 2030, at a CAGR of 5.00% during the forecast period.

Food allergy is a condition wherein the immune system reacts to a specific type of food. Even a small consumption of allergenic food can trigger various symptoms in the affected individual. These symptoms may include digestive issues, hives, vomiting, wheezing, or swollen airways. In severe cases, a food allergy can lead to a life-threatening reaction called anaphylaxis, characterized by a serious whole-body allergic response that can impede breathing, cause a significant drop in blood pressure, and impact heart rate.

Top Key Players in Food Allergy Market:

Boehringer Ingelheim International GmbH. (Germany), Aimmune Therapeutics, Inc (USA), Johnson & Johnson Private Limited (USA), Merck & Co., Inc. (US), Prestige Consumer Healthcare Inc. (US), Bayer AG (Germany), AstraZeneca (UK), DBV Technologies (France), Novartis Pharmaceuticals (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Alladapt Immunotherapeutics (USA), Vedanta Biosciences, Inc (USA), Alladapt Immunotherapeutics (USA), Almirall, S.A (Spain), Sanofi (France), Pfizer Inc (USA) and Other Key Players.

Market Dynamics and Factors for Food Allergy Market:

Drivers:

Increasing Level of Innovation in Allergy Testing and Treatment Processes Along with Rising Expenditure on Healthcare

Increasing levels of innovation in allergy testing and treatment processes and rising expenditure on healthcare. Advancements in medical technology and diagnostic methods have led to more accurate and comprehensive allergy testing. New and improved allergy testing techniques, such as component-resolved diagnostics (CRD) and molecular-based allergy testing, allow healthcare professionals to identify specific allergens more precisely. This enables personalized and targeted treatment plans for individuals with food allergies, leading to better patient outcomes.

Opportunities:

Ever Rising Food Allergy Cases Even in The Adults and Fully Operational R&D Activities Ongoing in Healthcare to Tackle Them

The prevalence of food allergies has been steadily increasing, not only in children but also in adults. This growing incidence of food allergies creates a larger patient population seeking diagnosis, treatment, and management options. As the awareness of food allergies expands, more individuals are seeking medical attention, leading to increased demand for allergy testing, therapeutic interventions, and preventive measures.

Traditionally, food allergies were considered primarily a childhood issue. However, recent studies have shown that adults are also susceptible to developing food allergies or experiencing new allergies later in life.

Segmentation Analysis of the Food Allergy Market:

By Food Source, the Crustacean shellfish segment had the largest market share. Crustacean shellfish allergy is a type of food allergy that occurs when the immune system reacts abnormally to proteins found in crustacean shellfish.

By Symptoms, Anaphylaxis is likely to dominate in this area. Anaphylaxis is a severe and potentially life-threatening allergic reaction that can occur in response to certain allergens, including food allergens. It is considered a medical emergency and requires immediate attention and treatment.

By Food Source

• Crustacean shellfish
• Dairy Products
• Poultry Products
• Others

By Symptom

• Anaphylaxis
• Hives
• Atopic Dermatitis
• Others

By Treatment

• Epinephrine injection
• Oral Immunotherapy (OIT)
• Epicutaneous Immunotherapy (EPIT)
• Others

By End User

• Hospitals
• Specialty Clinics
• Individuals
• Others

Regional Analysis of the Food Allergy Market:

The North American region is expected to hold the largest market share.  North America serves as a large base for food allergy cases in the entire globe, where the number of these cases is steadily rising that’s why North America dominates the food allergy market. Rising food allergies in the region are leading to more need for treatment technologies and medications for instance, FAAN estimate based on phone surveys, found that about 4% of the US population about 12 million people are allergic to peanuts, tree nuts, fish, or shellfish. But, this number is even higher and is growing at a significant rate.

Key Industry Development:

In May 2022, Amulet, the company making the world’s smallest, fastest, and sleekest molecular detection technologies announced its official launch “Allergy Amulet”. Amulet’s new launch Allergy Amulet is an innovation in food allergy, a signature wearable that alerts people to allergens in their food.

In October 2020, PALFORZIA, was developed and launched by Aimmune Therapeutics Inc., a Nestlé Health Science company. PALFORZIA® is the first FDA-approved food allergy treatment. PALFORZIA was approved as oral immunotherapy (OIT) on January 31, 2020, by the FDA for the mitigation of allergic reactions, including anaphylaxis. This food allergy drug received approval from the European Commission (EC) in December 2020, in April 2021, by the Medicines and Healthcare Products Regulatory Agency (MHRA) (U.K.).