There is money in them there food safety tests

There is money to be paid and money to made in food safety tests in coming years, says this article passed along by Doug Powell of the KSU Food Safety Network. From the PR news release:

Report Buyer, the online destination for business intelligence for major industry sectors, has now added a new report showing that 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, experiencing a compound average annual growth rate (CAGR) of 5.8%. “Food Safety Testing: The U.S. Market”, available from http://www.reportbuyer.com/go/BCC00173, reports that 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%. According to the report the potency of toxins and the need to meet domestic and international tolerance limits should propel this segment from a $78 million market in 2007 to $135 million in 2012, a CAGR of 11.6% over the next 5 years. Residue testing will grow from a $67 million market in 2007 to $85 million in 2012.