Growing reliance on third party testing labs
Strategic Consulting, Inc said the volume of food testing at contract labs is growing at a faster rate than the total food testing market, and this is expected to continue over the next five years.
Worldwide revenue for food contract testing labs will exceed $3bn with a compound annual growth rate of 9.4% this year.
Food companies are increasingly dependent on third party laboratories for integrity of their quality and safety programs, said the report.
This could impact companies that manufacture food diagnostic tests and instruments, as a greater portion of business is determined by performance requirements of contract testing laboratories.
Food quality standards such as HACCP and the Food Safety Modernization Act (FSMA) have increased the process, found the report.
