U.S. Market for food safety testing to reach $2.8 billion by 2012 noted BCC research study - (BCC Research)
November 17, 2007 – 7:48 pmhttp://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20071115005916&newsLang=en
WELLESLEY, Mass.– According to a new technical market research report, Food Safety Testing: The U.S. Market (FOD011E) from BCC Research (www.bccresearch.com), the U.S. market for food safety testing will be worth $2.1 billion in 2007. This is expected to increase to over $2.8 billion by 2012, a compound average annual growth rate (CAGR) of 5.8%.
The market is broken down by contaminant type including pathogens, genetically modified organisms (GMOs), toxins, residues and others. Of these, pathogen testing has the largest share of the market. Valued at nearly $1.8 billion in 2007, this segment is expected to be worth $2.4 billion by 2012, a CAGR of 5.1%.
The second largest segment, GMOs, was worth an estimated $106 million in 2007 and will reach $193 million by 2012, a CAGR of 12.7%.
The potency of toxins and the need to meet domestic and international tolerance limits should propel this segment from a $78 million market […]
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