A new report from Strategic Consulting, Inc. details the growing trend in food companies to send quality and safety testing offsite to third party contract testing laboratories. The volume of food testing conducted at contract labs is growing at a faster rate than the total food testing market, and is expected to continue to do so over the next five years.
Food companies around the world increasingly rely on 3rd party contract testing laboratories for their food quality and safety testing. In 2013, worldwide revenue for food contract testing labs will exceed $3 billion, with a compound annual growth rate of 9.4%. SCI’s Food Contract Lab Report (FCLR) is the first report to examine this market segment in detail, and reviews test volumes, revenues and emerging trends in quality and safety testing conducted by third party laboratories for food companies around the world.
With the volume of food testing conducted at contract labs growing at a faster rate than the food testing market as a whole, this trend has implications for both food companies and diagnostic test manufacturers. read more…