The global Food Allergy Market is likely to reach a valuation of USD 39.83 Billion in 2023 and is expected to register at a CAGR of 5.2% to reach USD 66.15 Billion by the end of 2033. By 2023, adrenaline treatment will account for almost 32% of the global market for food allergy treatments.
A large percentage of children and adults suffer from food allergies, with 8% of them being under five years old, and 4% being adults. Even though there is no cure for food allergies, some children outgrow them as they grow up and become more independent.
To assess and manage allergen hazards in food, the FDA offers guidance to food producers, consumers, and other stakeholders.
Inspections and sampling by the FDA are also performed to ensure food products are properly labeled for major allergens in addition to ensuring food facilities implement controls to prevent cross-contact of allergens during manufacturing and packaging and that labeling controls prevent undeclared allergens.
A recall is initiated by the FDA after problems with products are found and public notification is provided to alert consumers. In addition to this, the FDA has the power to seize, remove, and refuse to allow the entry of products that violate its regulations from the marketplace, as well as deny imports entry into the country.
| Data Points | Key Statistics |
|---|---|
| Anticipated Base Year Value (2022) | USD 38 Billion |
| Expected Market Value (2023) | USD 39.83 Billion |
| Projected Forecast Value (2033) | USD 66.15 Billion |
| Global Growth Rate (2023 to 2033) | 5.2% CAGR |
According to FMI, food allergy sales grew at a CAGR of 4.8% in the historical period 2018 to 2022. Kids are increasingly suffering from food allergies, which is the latest epidemic of the current generation.
Several allergen-specific and non-specific therapies are under investigation as potential treatment options for people suffering from food allergies; however, in terms of therapeutic outcomes, immunotherapy has been identified as the most promising treatment option for individuals who suffer from food allergies to date.
Providing an overview of recent developments in the treatment of food allergies is the objective of this review.
Anaphylaxis is still an unpredictable possibility with food allergies, which continue to increase in prevalence.
There are fewer treatment options available, even though diagnostic accuracy is improving. Allergy management relies on avoiding offending allergens and educating patients on how to manage them. Although precautions and vigilance are taken, accidental ingesting continues.
Recent advancements made in the study of humoral and cellular immune responses and tolerance mechanisms in food allergy have led to the development of several therapeutic strategies to treat food allergies in an effort to cure or remit them long term.
Accordingly, the market for food allergy is projected to grow at a CAGR of 5.2% between 2023 and 2033.
According to research, asthma incidences are expected to rise from 2023 to 2033. Allergies to food commonly coexist with asthma. There is a greater likelihood that food allergies and asthma symptoms will become severe under these circumstances.
The food allergy market growth rate is also influenced by rising healthcare expenditures that help improve its infrastructure. The government is also increasing funding for healthcare infrastructure, which will impact the dynamics of the market even further.
Across the globe, both children and adults are experiencing an increase in food allergies. With the increase in allergic diseases, it is likely that the demand for preventative and therapeutic measures for food allergies will increase.
Additionally, 2/5th of the overall demand for allergy care is likely to be driven by an increased focus on research and development to offer advanced products to consumers.
In recent years, there has been an increase in allergies and awareness about food disorders that has forced the food industry and restaurants to follow regulatory norms in order to serve the nation.
Gluten-free and dairy-free foods are an increase in demand on the market because both dietary programs and increasing awareness of food allergies among consumers have contributed to this demand.
Modern Medicine's Approach to Treat Food Allergies
The number of activities involved in research and development has increased over the past few years. Furthermore, the expansion of the market is largely due to the increased participation in research and development activities in the market.
As a result, the food allergy market will have many opportunities for growth in the future. Drug approvals and launches will continue to drive the market's growth.
Food allergy market growth will also be positively impacted by increased investment in modern technologies and the emergence of new markets.
In recent years, there has been a great deal of progress in understanding immunological mechanisms behind allergic disease, as well as a great deal of progress in identifying food allergens, which may lead to new therapeutic approaches.
Researchers are currently looking into several forms of immunomodulation therapies, including peptide immunotherapy, mutant protein immunotherapy, allergy DNA vaccination, immunostimulatory DNA vaccination, and anti-immunoglobulin E (anti-IgE).
A lack of awareness regarding allergic conditions often leads to underdiagnosis and underestimation of these conditions, despite their high prevalence. In addition, inaccurate test results may negatively impact the growth of the food allergy market in the future.
A lack of uniformity in diagnostic criteria greatly limits the evidence for food allergy prevalence and management.
Furthermore, the delay in the issuance of the results will negatively impact the growth of the market, as well as the fact that it involves a large volume of blood for multiple tests, which is hard for younger children and will hamper the growth.
A large price tag for the tests, as well as the absence of allergy tests, are the main concerns affecting the market. Despite this, organizations like the European Federation of Allergy and Airway Diseases Patients Associations (EFA) have introduced a lot of campaigns aimed at boosting food allergy awareness in the market.
New Entrants Bring Positive Changes to the Food Allergy Landscape
New entrants are capitalizing on technological advances in the food allergy field to introduce new solutions and gain a competitive edge in the market.
These companies constantly invest in research and development to stay ahead of changing consumer preferences. The company is striving to advance the food allergy market and improve its position in the forum.
According to the forecast, North America is likely to account for 43% of global food allergy treatments. Several factors are responsible for this dominance, including a large number of patients, advancements in food allergy treatment, and a high level of awareness regarding food allergies and treatment.
The development of new food allergy treatments and the development of new drugs in the USA market will further widen the market for food allergy treatments.
As a result of the recent approval of oral immunotherapy (OIT) by the Food and Drug Administration (FDA), patients with peanut allergies can now benefit from this treatment, while patients with mild reactions are not suitable for this treatment.
A study published in JAMA Network Open Journal found that 10.8% of adults in the survey were food allergic, while nearly 17% believed they were. Food allergies are prevalent among nearly half of the adult population, and 38% of them have been to an emergency room as a result of food allergies.
Researchers at the American College of Allergy, Asthma, and Immunology (ACAAI) published a study in the scientific journal Annals of Allergy, Asthma, and Immunology that found targeted cognitive behavioral therapy (CBT) to significantly reduce anxiety associated with food allergies (FAA).
According to the estimate, the European region is expected to dominate the market. The revenue generated from this region accounts for 36% of the total revenue generated worldwide.
Many people in the region suffer from allergies, which accounts for the region's dominance in the food allergy market. Food allergies affect over 150 million people worldwide, representing 20 percent of the region's population, according to the European Academy of Allergy and Clinical Immunology (EAACI).
Children and adults with food allergies are reported to be affected by food allergies at a rate ranging from 3-4%, respectively. Over 17 million Europeans suffer from allergies related to food, according to the European Academy of Allergy and Clinical Immunology.
Over the past decade, the number of children who have been admitted to the hospital for severe reactions has increased by 7X.
In addition to minimizing the occurrence of food allergic reactions caused by undeclared allergens, the Joint Research Centre (JRC) of the European Commission has several other objectives.
As Europeans become more aware of their allergies to certain foods and stricter compliance with regulatory requirements, the European food allergen testing market continues to grow.
Based on allergen sources, the market is segmented into gluten, peanut, mustard, milk, egg, fish, and other food allergy market. FMI predicts that peanuts allergen sources will dominate the market throughout the projection period. Peanut food allergy dominates more than 25% of the market.
The increasing prevalence of peanut allergies is a major factor driving the peanut allergy market. Furthermore, research is steadily being conducted to develop individual allergen immunotherapies (AIT) that can help in achieving allergen neutralization in less time with minimal side effects.
Additionally, pharma and biotech companies are strongly inclining toward discovering new immunotherapies for peanut allergy, which is significantly driving the market growth.
In recent years, peanut allergy treatment and management have advanced dramatically. To desensitize an individual to allergens, new research is exploring oral immunotherapy, which gradually increases the amount of allergen a person is exposed to.
A number of studies have also been conducted investigating the potential reduction in peanut allergy risk by using probiotics, allergen-specific immunotherapy, and gene therapy. A new diagnostic test that is more accurate and less invasive will be developed, as well as biomarkers specific to peanut allergy that can be located.
Food allergies are not uncommon. Approximately 17 million Europeans suffer from food allergies each year, of whom 3.5 million are under 25 years old, according to the European Federation of Allergy and Airways Diseases Patients Associations (EFA).
Most children are allergic to peanuts and peanut allergy is the most common cause of food allergy death.
Based on treatment type, the food allergy market is segmented into antihistamines treatment. The oral immunotherapy segment is expected to represent 22% of the market and grow at a CAGR of 3.6% during the evaluation period.
Research and development efforts are being conducted for the trials to develop proven methods for maximizing benefits and minimizing potential harm.
A strict avoidance of confirmed food allergens is recommended for the management of food allergy until food allergy OIT and other treatments have been proven to be reliable, safe, standardized, and approved for routine use in Australia (TGA) or New Zealand (Medsafe).
In childhood and adolescence with peanut allergy (PA), oral immunotherapy with Palforzia (POIT) aims to mitigate accidental allergic reactions. This therapy is a relatively new approach, so it's hard to know how many patients and families will choose it over strict avoidance.
Several domestic and regional players participate in the global food allergy market, which is highly fragmented and competitive. Mergers and acquisitions, expansions, collaborations, and partnerships are among the marketing strategies used by key players.
A company's marketing strategy can also be upscaled by developing new products. The implementation of these strategies has led to the development of advanced food allergy products.
Vionic, FARE's new partner, supports education and research to benefit people with life-threatening food allergies. In the year-end campaign, Future Starts Now, FARE is targeting to raise USD 1 million to achieve its goal of raising USD 220,000.
FARE and Vionic signed an official Partner Agreement in the fall of 2022. By collaborating with FARE, Vionic is improving the lives and health of people who suffer from food allergies. With this partnership, FARE will expand awareness and support of its strategic campaigns aimed at benefitting individuals with food allergies.
A new investor, Edward-Elmhurst Health, led a funding round for childhood food allergy prevention start-up Ready, Set, Food.
In addition to Danone's corporate venture arm, Danone Manifesto Ventures, as well as entrepreneur Mark Cuban and AF Ventures (formerly AccelFoods), there are returning investors this year as well. After raising USD 3 million in July of last year, Ready, Set Food raised another USD 3 million in less than a year.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 39.83 Billion |
| Market Value in 2033 | USD 66.15 Billion |
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Allergen Source, Treatment, End Use, Region |
| Regions Covered | USA; Canada; Brazil; Mexico; Germany; UK; France; Spain; Italy; China; Japan; South Korea; Singapore; Thailand; Indonesia; Australia; New Zealand; GCC; South Africa; Israel; North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Allergy Therapeutics; Astellas Pharma Inc.; Immunomic Therapeutics Inc.; Prota Therapeutics; Aimmune Therapeutics; Aravex; Cambridge Allergy Ltd.; ALS Limited; Charm Sciences; Danaher Corporation |
| Customization | Available Upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Value (US$ Million) Forecast by Allergen Source, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Treatment, 2018 to 2033
Table 4: Global Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Table 5: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 6: North America Market Value (US$ Million) Forecast by Allergen Source, 2018 to 2033
Table 7: North America Market Value (US$ Million) Forecast by Treatment, 2018 to 2033
Table 8: North America Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Table 9: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 10: Latin America Market Value (US$ Million) Forecast by Allergen Source, 2018 to 2033
Table 11: Latin America Market Value (US$ Million) Forecast by Treatment, 2018 to 2033
Table 12: Latin America Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Table 13: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Europe Market Value (US$ Million) Forecast by Allergen Source, 2018 to 2033
Table 15: Europe Market Value (US$ Million) Forecast by Treatment, 2018 to 2033
Table 16: Europe Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Table 17: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 18: Asia Pacific Market Value (US$ Million) Forecast by Allergen Source, 2018 to 2033
Table 19: Asia Pacific Market Value (US$ Million) Forecast by Treatment, 2018 to 2033
Table 20: Asia Pacific Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Table 21: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 22: MEA Market Value (US$ Million) Forecast by Allergen Source, 2018 to 2033
Table 23: MEA Market Value (US$ Million) Forecast by Treatment, 2018 to 2033
Table 24: MEA Market Value (US$ Million) Forecast by End-use, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Allergen Source, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Treatment, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by End-use, 2023 to 2033
Figure 4: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 5: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Global Market Value (US$ Million) Analysis by Allergen Source, 2018 to 2033
Figure 9: Global Market Value Share (%) and BPS Analysis by Allergen Source, 2023 to 2033
Figure 10: Global Market Y-o-Y Growth (%) Projections by Allergen Source, 2023 to 2033
Figure 11: Global Market Value (US$ Million) Analysis by Treatment, 2018 to 2033
Figure 12: Global Market Value Share (%) and BPS Analysis by Treatment, 2023 to 2033
Figure 13: Global Market Y-o-Y Growth (%) Projections by Treatment, 2023 to 2033
Figure 14: Global Market Value (US$ Million) Analysis by End-use, 2018 to 2033
Figure 15: Global Market Value Share (%) and BPS Analysis by End-use, 2023 to 2033
Figure 16: Global Market Y-o-Y Growth (%) Projections by End-use, 2023 to 2033
Figure 17: Global Market Attractiveness by Allergen Source, 2023 to 2033
Figure 18: Global Market Attractiveness by Treatment, 2023 to 2033
Figure 19: Global Market Attractiveness by End-use, 2023 to 2033
Figure 20: Global Market Attractiveness by Region, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Allergen Source, 2023 to 2033
Figure 22: North America Market Value (US$ Million) by Treatment, 2023 to 2033
Figure 23: North America Market Value (US$ Million) by End-use, 2023 to 2033
Figure 24: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 25: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 26: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 27: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 28: North America Market Value (US$ Million) Analysis by Allergen Source, 2018 to 2033
Figure 29: North America Market Value Share (%) and BPS Analysis by Allergen Source, 2023 to 2033
Figure 30: North America Market Y-o-Y Growth (%) Projections by Allergen Source, 2023 to 2033
Figure 31: North America Market Value (US$ Million) Analysis by Treatment, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by Treatment, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by Treatment, 2023 to 2033
Figure 34: North America Market Value (US$ Million) Analysis by End-use, 2018 to 2033
Figure 35: North America Market Value Share (%) and BPS Analysis by End-use, 2023 to 2033
Figure 36: North America Market Y-o-Y Growth (%) Projections by End-use, 2023 to 2033
Figure 37: North America Market Attractiveness by Allergen Source, 2023 to 2033
Figure 38: North America Market Attractiveness by Treatment, 2023 to 2033
Figure 39: North America Market Attractiveness by End-use, 2023 to 2033
Figure 40: North America Market Attractiveness by Country, 2023 to 2033
Figure 41: Latin America Market Value (US$ Million) by Allergen Source, 2023 to 2033
Figure 42: Latin America Market Value (US$ Million) by Treatment, 2023 to 2033
Figure 43: Latin America Market Value (US$ Million) by End-use, 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 45: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by Allergen Source, 2018 to 2033
Figure 49: Latin America Market Value Share (%) and BPS Analysis by Allergen Source, 2023 to 2033
Figure 50: Latin America Market Y-o-Y Growth (%) Projections by Allergen Source, 2023 to 2033
Figure 51: Latin America Market Value (US$ Million) Analysis by Treatment, 2018 to 2033
Figure 52: Latin America Market Value Share (%) and BPS Analysis by Treatment, 2023 to 2033
Figure 53: Latin America Market Y-o-Y Growth (%) Projections by Treatment, 2023 to 2033
Figure 54: Latin America Market Value (US$ Million) Analysis by End-use, 2018 to 2033
Figure 55: Latin America Market Value Share (%) and BPS Analysis by End-use, 2023 to 2033
Figure 56: Latin America Market Y-o-Y Growth (%) Projections by End-use, 2023 to 2033
Figure 57: Latin America Market Attractiveness by Allergen Source, 2023 to 2033
Figure 58: Latin America Market Attractiveness by Treatment, 2023 to 2033
Figure 59: Latin America Market Attractiveness by End-use, 2023 to 2033
Figure 60: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 61: Europe Market Value (US$ Million) by Allergen Source, 2023 to 2033
Figure 62: Europe Market Value (US$ Million) by Treatment, 2023 to 2033
Figure 63: Europe Market Value (US$ Million) by End-use, 2023 to 2033
Figure 64: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 65: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 66: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 67: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 68: Europe Market Value (US$ Million) Analysis by Allergen Source, 2018 to 2033
Figure 69: Europe Market Value Share (%) and BPS Analysis by Allergen Source, 2023 to 2033
Figure 70: Europe Market Y-o-Y Growth (%) Projections by Allergen Source, 2023 to 2033
Figure 71: Europe Market Value (US$ Million) Analysis by Treatment, 2018 to 2033
Figure 72: Europe Market Value Share (%) and BPS Analysis by Treatment, 2023 to 2033
Figure 73: Europe Market Y-o-Y Growth (%) Projections by Treatment, 2023 to 2033
Figure 74: Europe Market Value (US$ Million) Analysis by End-use, 2018 to 2033
Figure 75: Europe Market Value Share (%) and BPS Analysis by End-use, 2023 to 2033
Figure 76: Europe Market Y-o-Y Growth (%) Projections by End-use, 2023 to 2033
Figure 77: Europe Market Attractiveness by Allergen Source, 2023 to 2033
Figure 78: Europe Market Attractiveness by Treatment, 2023 to 2033
Figure 79: Europe Market Attractiveness by End-use, 2023 to 2033
Figure 80: Europe Market Attractiveness by Country, 2023 to 2033
Figure 81: Asia Pacific Market Value (US$ Million) by Allergen Source, 2023 to 2033
Figure 82: Asia Pacific Market Value (US$ Million) by Treatment, 2023 to 2033
Figure 83: Asia Pacific Market Value (US$ Million) by End-use, 2023 to 2033
Figure 84: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 85: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 88: Asia Pacific Market Value (US$ Million) Analysis by Allergen Source, 2018 to 2033
Figure 89: Asia Pacific Market Value Share (%) and BPS Analysis by Allergen Source, 2023 to 2033
Figure 90: Asia Pacific Market Y-o-Y Growth (%) Projections by Allergen Source, 2023 to 2033
Figure 91: Asia Pacific Market Value (US$ Million) Analysis by Treatment, 2018 to 2033
Figure 92: Asia Pacific Market Value Share (%) and BPS Analysis by Treatment, 2023 to 2033
Figure 93: Asia Pacific Market Y-o-Y Growth (%) Projections by Treatment, 2023 to 2033
Figure 94: Asia Pacific Market Value (US$ Million) Analysis by End-use, 2018 to 2033
Figure 95: Asia Pacific Market Value Share (%) and BPS Analysis by End-use, 2023 to 2033
Figure 96: Asia Pacific Market Y-o-Y Growth (%) Projections by End-use, 2023 to 2033
Figure 97: Asia Pacific Market Attractiveness by Allergen Source, 2023 to 2033
Figure 98: Asia Pacific Market Attractiveness by Treatment, 2023 to 2033
Figure 99: Asia Pacific Market Attractiveness by End-use, 2023 to 2033
Figure 100: Asia Pacific Market Attractiveness by Country, 2023 to 2033
Figure 101: MEA Market Value (US$ Million) by Allergen Source, 2023 to 2033
Figure 102: MEA Market Value (US$ Million) by Treatment, 2023 to 2033
Figure 103: MEA Market Value (US$ Million) by End-use, 2023 to 2033
Figure 104: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 105: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 106: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 107: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 108: MEA Market Value (US$ Million) Analysis by Allergen Source, 2018 to 2033
Figure 109: MEA Market Value Share (%) and BPS Analysis by Allergen Source, 2023 to 2033
Figure 110: MEA Market Y-o-Y Growth (%) Projections by Allergen Source, 2023 to 2033
Figure 111: MEA Market Value (US$ Million) Analysis by Treatment, 2018 to 2033
Figure 112: MEA Market Value Share (%) and BPS Analysis by Treatment, 2023 to 2033
Figure 113: MEA Market Y-o-Y Growth (%) Projections by Treatment, 2023 to 2033
Figure 114: MEA Market Value (US$ Million) Analysis by End-use, 2018 to 2033
Figure 115: MEA Market Value Share (%) and BPS Analysis by End-use, 2023 to 2033
Figure 116: MEA Market Y-o-Y Growth (%) Projections by End-use, 2023 to 2033
Figure 117: MEA Market Attractiveness by Allergen Source, 2023 to 2033
Figure 118: MEA Market Attractiveness by Treatment, 2023 to 2033
Figure 119: MEA Market Attractiveness by End-use, 2023 to 2033
Figure 120: MEA Market Attractiveness by Country, 2023 to 2033
The food allergy market was worth USD 38 Billion in 2022
According to FMI, the food allergy market will reach USD 39.83 Billion by 2023.
From 2023 to 2033, FMI expects food allergy revenue to flourish at a 5.2% CAGR
In 2033, the food allergy market worth is poised to reach USD 66.15 Billion
The North American market is expected to dominate the industry in 2023, accounting for more than 43% of overall revenues.
The food allergy market in Europe is expected to grow at a market share of 36% by 2033.
Allergy Therapeutics, Astellas Pharma, Inc., Immunomic Therapeutics, Inc., Prota Therapeutics, and Aimmune Therapeutics are the top 5 market players in the food allergy market.
According to forecasts, by 2032 food allergy sales in Asia Pacific will reach a market share of 22% during the forecast period.
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