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KEY FINDINGS
The Asia-Pacific food allergen testing market is projected to record a CAGR of 8.15% during the forecast period, 2022-2030. The rising awareness with regard to food safety and food allergies in East Asian countries like Singapore, China, South Korea, Japan, and developed countries like New Zealand. Such aspects have enabled the implementation of norms and regulations.
MARKET INSIGHTS
South Korea, China, Japan, Thailand, Australia & New Zealand, Vietnam, India, and Rest of Asia-Pacific are analyzed for the Asia-Pacific food allergen testing market growth evaluation. In Japan, in 2020, the food processing industry produced $218.3 billion of food and beverage products, as per the United States Department of Agriculture (USDA). Also, the country's number one agricultural trading partner is the United States, a reliable supplier of high-quality and safe foods. Additionally, Japan is one of the most important food markets with an excellent food safety reputation and high standards worldwide. Besides, the high food allergen awareness among the population is attributed to the decades of education, innovation, and industrialization. Moreover, the food regulatory body recommends labeling for allergens like abalone, salmon roe, kiwi fruit, sesame, walnut, mackerel, cashew nut, etc.
In Thailand, the food & beverage industry is the third-largest industry, accounting for 21% of the GDP. In addition, in 2020, the Thai processed foods exports were valued at $19.4 billion. Also, food products are necessitated to bear labels with information in the Thai language, like the main ingredients, name, address & name of the manufacturer, as per the Notification of the Ministry of Public Health No. 194. Such factors boost market demands in these countries.
COMPETITIVE INSIGHTS
Some of the eminent companies in the market include AsureQuality Limited, Intertek Group Plc, Auriga Research, Merieux Nutrisciences, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation caters to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments