Food Allergy Market Report 2023: R&D Consistency Drives Sector Growth
The global food allergy market is estimated to be worth US$ 39.83 billion in 2023 and to grow at a 5.2% CAGR to US$ 66.15 billion by the end of 2033. Adrenaline therapy will account for over 32% of the global market for food allergy therapies by 2023. The food allergy market refers to the global market for products and services aimed at diagnosing, treating, and managing food allergies. The market is driven by an increasing prevalence of food allergies worldwide, which is estimated to affect up to 10% of the population. The market includes a variety of products and services such as diagnostic tests, pharmaceuticals, and allergen-free food products. Diagnostic tests are used to identify specific food allergies, while pharmaceuticals such as antihistamines and epinephrine auto-injectors are used to manage allergic reactions. Allergen-free food products are specially formulated to eliminate specific allergens, such as peanuts, tree nuts, dairy, eggs, and wheat, among others. Accord...