Sequential fixed-fluidized bed foam granulation (SFFBFG) and drying: Multivariate model development for water content monitoring with near–infrared spectroscopy

•Foam granulation and drying processes are performed in a fluidized bed apparatus.•An internal mixing nozzle producing foam was used to deliver the binder.•A protocol for fluidized bed foam granulation was developed and tested.•Near Infrared spectroscopy was successfully used to monitor water content during the process.•A Partial Least Square model built by cross-validation successfully predicts water content.