NIR MOISTURE ANALYZERS MARKET ANALYSIS (2020-2027)
Near-infrared moisture analyzers (NIR moisture analyzers) are electronic devices that analyze and control the moisture of the product in during various stages of the manufacturing process. NIR moisture analyzers use an infrared light source which is passed through the product sample. Some light is absorbed by the sample and the remaining is reflected and measured. It then proportionately provides the value of the moisture in the sample.
NIR moisture analyzers is majorly used in industries such as food and beverages, chemicals, pharmaceuticals, and others to monitor moisture contained in a product sample. For instance, in the food and beverage industry, NIR moisture analyzers can be used to ensure that the raw material provided is up to the company’s standards.
Factors Driving Growth of the Global NIR Moisture Analyzers Market:
NIR moisture analyzers can be used at various stages of food production in order to control and monitor the moisture contained in the product. For instance, in dairy plant, NIR moisture analyzers can be used to analyse the consistency of milk (at initial stage) and milk products such as whey concentrate, cheese, butter, and others (at final after process stage). The increasing demand for these analysers from the food and beverage industry is expected to favour the market growth during the forecast period (2020-2027).
The food and beverage industry has witnessed rapid growth in the recent past. According to Coherent Market Insights analysis, in 2019, companies such as Nestlé S.A., PepsiCo, Inc., and others exhibited steady growth in the packed food sales segment. For instance, in 2019, Nestlé S.A., a Switzerland based food and beverage company, registered 1.2% growth in sales compared to the previous year (2018). Similarly, in 2019, PepsiCo, Inc. a US-based Food company registered sales growth around 4.0% compared to the previous year (2018).
Furthermore, according to Coherent Market analysis, the global food and beverage industry is expected to register a CAGR of 5.1% during the forecast period (2020-2027). Thus, the increasing demand for packed food is expected to positively impact the growth of the global NIR moisture analyzer market during the forecast period.
However, the accuracy of NIR moisture analyzers to measure the moisture content is limited which can hamper the market growth of the global NIR moisture analyzers market during the forecast period.
Global NIR Moisture Analyzers Market: Regional Insights
On the basis of the region, the NIR moisture analyzers market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account for the largest market share during the forecast period, owing to the presence of key players in the region such as FINNA SENSORS, MoistTech Corp., Sensortech Systems Inc., Process Sensors Corporation, Analytical Instruments Corporation., AMETEK, Inc., Mettler-Toledo International, Inc., and others.
Moreover, apart from North America, Asia Pacific is expected to witness positive growth in the NIR moisture analyzers market during the forecast period owing to the increasing adoption of NIR moisture analyzers in the pharmaceutical industry. The pharmaceutical industry in Asia Pacific has witnessed rapid growth in the recent past. For instance, according to data published by Invest India, a government body of India, the pharmaceutical sector in India is expected to be valued around US$ 55 billion by end of 2020 and it is expected reach US$ 100 billion by 2025.
Key Players in the Global NIR Moisture Analyzers Market:
Key players operating in the market are BĂśCHI Labortechnik AG, FINNA SENSORS, MoistTech Corp., Sensortech Systems Inc., Process Sensors Corporation, Analyticon Instruments Corporation, Kett Electric Laboratory, Limab AB, Malvern Panalytical Ltd., AMETEK, Inc., Michell Instruments Inc., Mettler-Toledo International, Inc., Sartorius AG, Metrohm AG, and others.
Global NIR Moisture Analyzers Market Taxonomy:
Global NIR Moisture Analyzers Market, by Product Type:
- Desktop Moisture Analyzers
- Handheld Moisture Analyzers
Global NIR Moisture Analyzers Market, by End-use Industry:
- Pharmaceutical
- Chemical Industry
- Food Industry
- Agriculture and Forestry
- Textile
Global NIR Moisture Analyzers Market, by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Source: https://www.coherentmarketinsights.com/ongoing-insight/nir-moisture-analyzers-market-4233