Knowledge-Based Information for NIR Spectroscopy
Alcoholic beverages are an important part of the culture in many countries. The global alcoholic beverage market was recently valued at $1.439 trillion in 2017 and is expected to grow at a CAGR of 2.0% in coming years, with a projected value of $1.684 trillion in 2025.
The global dairy market value was estimated at $336 billion in 2014 and was projected to grow at a 6% rate with a value of $442 billion in 2019. Factors driving this growth include a growing world population, rise in per capita income, and an increase in consumer awareness regarding the health and nutritional value of dairy products.
The global edible oils market is expected to register a CAGR of 5.1% and have an estimated value of $130.3 billion by 2024.
Quality assurance in meat production is critical not only for price and brand protection but also for safeguarding human health. Moreover, consumer awareness of quality assurance among brands is a major factor in consumers’ decisions to purchase meat products.
The Non-Alcoholic Beverage Market is Set For Rapid Growth to Reach a Value Around USD 1,650.28 Billion by 2024.
The global seafood industry has expanded due to the advancements in high-seas fishing vessels, improvements in food processing and storage, and the establishment of fishing industries in developing countries. The effects include an increased availability of species variety and subsequent greater demand by the consumer, and this greater demand has brought on an onslaught of illegal practices and fraud.
The global spice and herbs market was estimated to be valued at approximately $6.91 billion in 2017. It is expected to grow at a CAGR of 7.1% from 2018 to 2023.