Food allergy is a condition in which exposure to certain food may trigger adverse reaction, mediated by an immunologic mechanism that involves specific immunoglobulin E (IgE-mediated) or cell-mediated mechanisms (non-IgE-mediated). It is a growing public health concern affecting children and adults, with reported increased prevalence for some allergens. The severity of allergic reactions can range from mild to potentially life-threatening. Both milk and peanut are among food allergens recognized as such in view of their high prevalence and the severity of the reactions they can cause in certain subjects who are allergic to them. A review was conducted in order to address the state of evidence base in the fields of IgE-mediated allergy to cow's milk and to peanut. Studies reported that 50% of the population allergic to cow's milk proteins and to peanut proteins are likely to experience adverse reactions with 36 mg and 24 mg proteins (median ED50), respectively. Worldwide, food regulations have been implemented considering food allergens with the highest reported prevalence. Their main provisions concern the labeling of allergens. However, studies have demonstrated that these provisions are currently not sufficient, particularly due to the unintentional presence of traces of allergens in certain foods and the lack of regulatory framework in this regard. Thus, this confirms the relevance of thresholds below which most sensitized consumers are not at risk of developing severe allergic reactions, with the aim of adapting current regulations.