Food Allergy Market is Growing at a Rate of 5.60% During the Forecast year 2022 and 2029

 The food allergy market was valued at USD 34.83 billion in 2021 and is anticipated to grow at a CAGR of 5.60 percent from 2022 to 2029 to reach USD 53.85 billion. The Data Bridge Market Research team’s thorough expert research, patient epidemiology, pipeline analysis, price analysis, and regulatory framework are all included in the market study.

The market for food allergies has recently grown, and this is expected to continue over the projected period. An abnormal reaction to particular foods, such as tree nuts, peanuts, and soy, is known as a food allergy. Everything from itching, tongue swelling, and hives to low blood pressure, diarrhoea, and vomiting can be brought on by allergic responses. Food allergies are growing increasingly prevalent worldwide, according to the World Allergy Organization, with egg, milk, wheat, shellfish, and tree nuts being the most common allergens. Furthermore, seafood allergies are more prevalent in Asia than in western nations.

A food allergy is an immune response that develops soon after consuming a particular meal. Bloating, hives, and enlarging of the airways can all be brought on by even a tiny amount of the food that triggers the allergy. In some people, a food allergy can result in serious symptoms or even the potentially fatal reaction known as anaphylaxis.

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Food Allergy Market Dynamics

Drivers

High prevalence in children

The rising prevalence of food allergies in children is estimated to enhance the market’s growth. Children, particularly toddlers and newborns, are more prone to food allergies. Children’s digestive systems mature as they become older, and their bodies are less prone to absorb food or food components that cause allergies.

Milk, soy, wheat, and egg allergies are usually outgrown in youngsters. Allergies to nuts and shellfish, in particular, are more likely to be lifelong. Peanut allergy among children has increased by 21% since 2010, according to a study released by the American College of Allergy, Asthma, and Immunology (ACAAI) in 2017. According to the research, around 2.5 percent of children in the United States are allergic to peanuts.

Surging incidences of asthma

The growing incidences of asthma are estimated to propel the market’s growth rate during the forecast period of 2022-2029. Asthma and dietary allergies frequently coexist. Both food allergy and asthma symptoms are more likely to be severe when this happens.

Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of food allergy market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

COVID-19 Impact on Food Allergy Market

Since its emergence in December 2019, the COVID-19  virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease’s spread were recommended.

Global Food Allergy Market Scope

Food Source

• Dairy Products
• Poultry Product
• Peanuts
• Shellfish
• Others

Symptoms

• Anaphylaxis
• Atopic Dermatitis
• Others

Diagnosis

• Skin-Prick Tests
• Blood Test
• Elimination Diet
• Oral Food Challenge
• Others

Treatment

• Epinephrine
• Oral Immunotherapy
• Antihistamines
• Others

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

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Food Allergy Market Regional Analysis/Insights

The Food allergy market is analysed and market size insights and trends are provided by country, food source, symptoms, diagnosis, treatment, end-users and distribution channel as referenced above.

North America dominates the food allergy market because of the rising prevalence of food allergies in this region. Additionally, rising healthcare expenditure and the presence of major key players will further propel the market’s growth rate.

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