Near-infrared (NIR) Spectroscopy Market Size & Share, by Type (Benchtop, Portable); Product (Fourier Transform-based (FT-NIR) Spectrometers, Dispersive Infrared Spectroscopy); Application (Medical Applications, Remote Monitoring, Agriculture, Astronomical Spectroscopy, Particle Measurement, Industrial Use, Material Science) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

Near-infrared Spectroscopy Market size was over USD 596.91 million in 2024 and is anticipated to cross USD 1.24 billion by 2037, growing at more than 5.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of triethanolamine is estimated at USD 624.61 million. The reason behind the growth is impelled by the increasing demand for food across the globe. As a result, the food safety concern has also increased, leading to a growing demand for near-infrared (NIR) spectroscopy. For the routine compositional, functional, and to ascertain the approximate chemical compositions of a variety of foods, near-infrared (NIR) spectroscopy is an emerging analytical approach. 

In addition, it is a non-destructive method that can be simply used in food processing and is particularly helpful for initial screening at the beginning of the food production process. By 2050, the demand for food is anticipated to rise globally by over 60%. 

The growing popularity of minimally invasive procedures are believed to fuel the market growth. Minimally invasive surgery (MIS) has rapidly increased in use as they need fewer incisions, cause less discomfort, and leaves no unsightly scars. NIR Spectroscopy has been used as an analytical tool across several academic disciplines since it uses no chemicals, and is non-destructive. Usually, patients prefer it as it doesn't involve ionizing radiation and isn't painful.