The IR spectroscopy market in South America is expected to reach US$ 114.90 million by 2028 from US$ 82.03 million in 2020. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The food industry has continuously strived to be in consonance with the modern developments that have taken place in the food processing. A few aspects that have been enhanced by the implementation of the latest technologies include value addition, freshness, varied flavor and textures, and preservation of nutrient profile. The NIR spectrometers have a broad array of application in agro-food, food units, and many other fields. In agro-food industry, the IR spectroscopy application comprises chemical detection, pesticide residue detection, physical hazards detection, microbiological hazard detection, and food safety & traceability. Moreover, in food industry, the spectrometers deal with different fields of agricultural products such as crops, fruits, vegetables, oil & beverages, and dairy products. The method of observing product’s biochemical qualities, such as skin and flesh color, respiration rate, firmness, content of sugars/pigments/organic acids/volatile and phenolic compounds, and ethylene production, is becoming a huge concern. Therefore, due to expanding scope of product authenticity and quality, and exposure of falsely labeled foods, the demand for IR spectroscopy in food industry is increasing. Moreover, IR spectroscopy is the leading technology used during the analysis of raw materials, process control, and specifications of the final product in dairy industry. Techniques such as near-infrared and mid-infrared are successfully deployed for assessing milk and dairy product’s quality such as milk powder, whey, whole-plant corn silage (WPCS), and cheese. For instance, Teixeira et al., has determined spectroscopic patterns of antibiotics isolated in milk for detecting minimum amounts of compounds precisely and rapidly. The FTIR spectroscopy is developed to overwhelm limits related to old dispersive instruments. FTIR technique is highly efficient, reliable, easy-to-perform, and no pre-treatment of samples required. This technology provides consistent and direct method for handling various food products with non-damaging analysis; thus, IR spectroscopy is making these process more efficient.
According to latest situation report from the World Health Organization (WHO), Brazil, Argentina, Colombia, and Peru are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in 2020 and likely in 2021. The outbreak has created significant disruptions in primary industries such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the South America IR spectroscopy market as they are the major supply and demand sources for IR spectroscopy products and solutions. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of IR spectroscopy.
Food processing and agriculture sector are growing across the world; thus, requirement of rapid, precise, and reliable analyses to monitor quality of both raw materials and finished products is also increasing at an impressive pace. Fluorescence spectrophotometry, ultraviolet-visible (UV-Vis) spectroscopy, infrared microscopy and imaging, and FT-infrared spectroscopy are among the IR techniques used in food & beverage industries for food testing. Milk analyzer is another application area where IR spectroscopy is used. Molecular spectroscopy and UV-Vis are amongst the prominent spectroscopic techniques utilized in food testing. Molecular spectroscopy is a technique that helps in dealing with food adulteration issues; whereas IR and NIR spectroscopy are quick and easy-to-use techniques used for measuring moisture, fat, and protein content. Companies such as PerkinElmer is engaged in the business of offering analytical instruments, such as molecular spectroscopy, which is based on UV, fluorescence, and IR. The scope of this segment includes both food & beverages and agriculture sectors.
The overall South America IR spectroscopy market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the South America IR spectroscopy market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South America IR spectroscopy market. Agilent Technologies, Inc.; Bruker Corporation; Carl Zeiss AG; Hitachi, Ltd.; Horiba, Ltd.; JASCO; International Co., Ltd.; Lumex Instruments; PerkinElmer, Inc.; Shimadzu Corporation; and Thermo Fisher Scientific Inc. are among a few players operating in the South America IR spectroscopy market.
Reasons to Buy
According to latest situation report from the World Health Organization (WHO), Brazil, Argentina, Colombia, and Peru are some of the worst affected countries due to COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide and the global economy is anticipated to take a worst hit in 2020 and likely in 2021. The outbreak has created significant disruptions in primary industries such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the South America IR spectroscopy market as they are the major supply and demand sources for IR spectroscopy products and solutions. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various electronic components that are required for the manufacturing of IR spectroscopy.
Food processing and agriculture sector are growing across the world; thus, requirement of rapid, precise, and reliable analyses to monitor quality of both raw materials and finished products is also increasing at an impressive pace. Fluorescence spectrophotometry, ultraviolet-visible (UV-Vis) spectroscopy, infrared microscopy and imaging, and FT-infrared spectroscopy are among the IR techniques used in food & beverage industries for food testing. Milk analyzer is another application area where IR spectroscopy is used. Molecular spectroscopy and UV-Vis are amongst the prominent spectroscopic techniques utilized in food testing. Molecular spectroscopy is a technique that helps in dealing with food adulteration issues; whereas IR and NIR spectroscopy are quick and easy-to-use techniques used for measuring moisture, fat, and protein content. Companies such as PerkinElmer is engaged in the business of offering analytical instruments, such as molecular spectroscopy, which is based on UV, fluorescence, and IR. The scope of this segment includes both food & beverages and agriculture sectors.
The overall South America IR spectroscopy market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the South America IR spectroscopy market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South America IR spectroscopy market. Agilent Technologies, Inc.; Bruker Corporation; Carl Zeiss AG; Hitachi, Ltd.; Horiba, Ltd.; JASCO; International Co., Ltd.; Lumex Instruments; PerkinElmer, Inc.; Shimadzu Corporation; and Thermo Fisher Scientific Inc. are among a few players operating in the South America IR spectroscopy market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South America IR spectroscopy market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in South America IR spectroscopy market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth South America market trends and outlook coupled with the factors driving the IR spectroscopy market as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
3. Research Methodology
4. South America IR Spectroscopy Market Landscape
5. South America IR Spectroscopy Market - Key Market Dynamics
6. South America IR Spectroscopy Market - Market Analysis
7. South America IR Spectroscopy Market Analysis - By Technology
8. South America IR Spectroscopy Market - By Product Type
9. South America IR Spectroscopy Market - By End-User
10. South America IR Spectroscopy Market - Country Analysis
11. South America IR Spectroscopy Market- COVID-19 Impact Analysis
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Agilent Technologies, Inc.
- Bruker Corporation
- Carl Zeiss AG
- Hitachi, Ltd.
- Horiba, Ltd.
- JASCO International Co., Ltd.
- Lumex Instruments
- PerkinElmer, Inc.
- Shimadzu Corporation
- Thermo Fisher Scientific Inc.
Table Information
Report Attribute | Details |
---|---|
Published | May 2021 |
Forecast Period | 2020 - 2028 |
Estimated Market Value ( USD | $ 82.03 Million |
Forecasted Market Value ( USD | $ 114.9 Million |
Compound Annual Growth Rate | 4.5% |