|
Food safety testing costs projected to hit $5.5 billion by 2018
Story Date: 7/11/2013
| |
Source: Chris Scott, MEATINGPLACE, 7/10/13
The cost of tracking pathogens in food processed by U.S., Canadian and Mexican companies will rise by 47 percent over the next five years, according to a new study by the Dallas-based market research firm Markets and Markets (M&M).
Government regulators, food companies and other affiliated entities are responsible for assuring the safety of processed food at all stages of production and costs for 2012 reached $3.71 billion, according to M&M estimates.
The report notes that the United States dominated the food safety testing market with a 70-percent share, followed by Canada and Mexico.
Pathogen contamination sparked the largest number of foodborne illnesses and recalls in North America, with salmonella contamination responsible for most of the registered food recalls by the U.S. Food and Drug Administration in the U.S. market last year.
The M&M report also identifies five international food safety testing service providers who are developing new products even as they work to expand their market share through acquisitions and mergers.
For more stories, go to http://www.meatingplace.com/.
|
|
|
|
