Dive Summary:
- According to a new report by industry analysis company Global Industry Analysts, the food safety testing market will rise to $19.7 billion by 2018, a rise spurred by the recent proliferation of food borne illnesses.
- The United States comprises the largest sector of the testing market partly due to the huge media coverage food recalls receive as well as the increased frequency at which these event are taking place.
- Globally, increased regulations are actually mandating more food safety testing, inflating the market in order to keep consumers safe.
From the article:
AN JOSE, Calif.—Driven by the continuous rise in product recalls due to contamination by bacteria and other microorganisms, increased awareness and the implementation of new regulatory specifications, the global market for food-safety testing is projected to reach $19.7 billion by 2018, according to a new report from Global Industry Analysts (GIA).
