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The food allergy market size was valued at USD 39.03 billion in 2023, driven by the increasing incidence of food allergies and increased awareness among people across the 7 major markets. The market size is anticipated to grow at a CAGR of 5.40% during the forecast period of 2024-2032 to achieve a value of USD 62.7 billion by 2032.
Food allergy is a condition that occurs when a person’s immune system gets triggered by a particular food item and exhibits several symptoms depending on the person and the food item. Most symptoms are visible only for a few hours. In severe cases, such as anaphylaxis, symptoms may persist for several days. Symptoms of food allergies include tingling or itching in the mouth, itchy red rash, swelling of the face, mouth, throat, or other areas of the body, difficulty swallowing, wheezing or shortness of breath, digestive problems, and swollen airways among others.
The market is driven by factors such as the rising prevalence of food allergies among children and adults. Due to the increasing prevalence, research institutes and key players in the market are expanding their sources and focusing on developing the best treatment for food-allergic patients across the 7 major markets. The continuous development of innovative solutions in the market can result in increased adoption as a major population is suffering from a common food allergy, especially to peanuts. This innovative technology and its increased adoption are also expected to trigger research and development activities to find solutions for other food allergies including tree nuts, propelling the food allergy market growth.
Additionally, a new research and innovation project is targeting the development of novel immunotherapeutic drugs for peanut and multiple tree nut allergies. The project is a collaboration between DTU National Food Institute, The Hospital for Sick Children (SickKids) in Canada, and the pharmaceutical company ALK. The project ALLEVIATE2 will complete the preclinical development of sublingual immunotherapy drug candidates for the treatment of peanut allergy first. If this goes well and happens to be successful, the project will subsequently apply the same therapeutic approach and develop new treatments for tree nut allergies as well. This project has been funded with 18.5 million DKK (Danish Krone) by the Innovation Fund Denmark.
Innovations and research activities in the field of food allergies have been driving the market growth due to the limited treatment options available in the. These efforts from researchers and institutes can assist pharmaceutical and biotechnology companies in developing new treatments that can improve the quality of life for food allergy patients, further boosting the market.
Market Breakup by Food Source
Market Breakup by Symptoms
Market Breakup by Diagnosis Test
Market Breakup by Treatment Type
Market Breakup by Region
The market is driven by the increasing population allergic to food items. Rising investments in research and development activities targeted toward comprehending the mechanism of food allergies and the development of suitable treatments, drugs, and other innovative solutions are contributing to the market growth. The growing awareness of this condition among more people coupled with the increased demand for effective management and treatment options is expected to drive the food allergy market growth in the forecast period. The market growth is also attributed to increased investments by the government in research activities by scientists and key market players coupled with advanced development of technologies.
The Centers for Disease Control & Prevention (CDC) estimates that almost 6% of U.S. adults and children have a food allergy. The most common food allergies among Americans are shellfish, peanuts, milk, and tree nuts. About 200,000 Americans seek emergency medical care for life-threatening allergic reactions to food, known as anaphylaxis, each year. These medical conditions approximately contribute to USD 25 billion every year, driving the market growth.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Food Source |
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Breakup by Symptoms |
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Breakup by Diagnosis Test |
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Breakup by Treatment Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 39.03 billion in 2023, driven by the increase in food allergies among people.
The market is anticipated to grow at a CAGR of 5.40% during the forecast period of 2024-2032 and is likely to reach a market value of USD 62.7 billion by 2032.
The increasing incidence of food allergies and increased awareness among people are the major factors driving the market growth.
Increased research and development activities are among the major trends influencing market growth.
The major regions of the market include the United States, Japan, EU-4 and the United Kingdom.
Food allergies can be caused by dairy products, poultry products, tree nuts, peanuts, shellfish, wheat, and soy, among others.
Symptoms of food allergies include anaphylaxis and atopic dermatitis, among others.
Tests include skin-prick tests, blood tests, elimination diet, and oral food challenges, among others.
Epinephrine, oral immunotherapy, and antihistamines, among others are some treatments used to treat food allergies.
Key players involved in the market are Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries, Sanofi, Boehringer Ingelheim International GmbH, AstraZeneca, Johnson & Johnson Private Limited, and Bayer AG.
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Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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