NIR MOISTURE ANALYZERS MARKET ANALYSIS

Nir Moisture Analyzers MarketSize and Trends

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.