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Explore this issueFebruary/March 2014
According to Strategic Consulting’s “Food Contract Lab Report,” food companies around the world are sending increasing amounts of quality and safety testing to third-party contract testing laboratories. Total revenues for labs are estimated to reach $3.05 billion in 2013, up from $1.95 billion just five years ago, at a compound annual growth rate of 9.4 percent worldwide. The report includes revenues, test volumes, and growth rates by region (North America, Europe, Asia, and rest of the world) and by business area (microbiology, chemistry, and services). It also examines the drivers for the dramatic grow th and provides market forecasts through 2018.