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Carob Market (Type - Powder, Gum, and Others; Application - Bakery and Confectionery, Nutrition and Supplements, Dairy Products, Pharmaceuticals, and Others; Distribution Channel - Online Retail, Retail Stores, Online B2B, and B2B Direct Supply): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : September, 2021

  • Rep Id : FB0273

  • Category : Food & Beverages

  • Status : Published

A recent report published by Infinium Global Research on the carob market provides an in-depth analysis of segments and sub-segments in the global as well as regional carob market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional carob market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global carob market. According to the report, the global carob market is projected to grow at a healthy CAGR over the forecast period of 2021-2027.

 

Market Insight

Carob comes from the pods of the carob tree. Its powder is often a substitute for chocolate in baking recipes. It rose to popularity in the 1980s as a chocolate substitute because of its natural sweetness and is now experiencing a spike in demand due to its nutritional value. Carob powder can be used like cocoa powder in baked goods, though it is naturally sweeter. It can also be transformed into baking chips and syrup. Carob powder finds its utility in the bakery, confectionery, and pet foods industries as it has a natural sweetening flavor. As it is rich in dietary fiber. its demand is propelling.

 

A growing demand for bakery products coupled with the convenience of foods is driving the growth of the carob market. The growing bakery and confectionery industry is driving the carob market along with rise in the production of carob. The carob is also used for treating diarrhea, cancer, and helps in reducing cholesterol level, are some factors driving the global carob market. Its powder is widely used as an alternative for cocoa powder due to its health benefits which is a which provides a growing demand for the global carob market. The carob market is also driven by caffeine-free property of carob powder, which makes it suitable for caffeine-intolerant consumers. In addition, consumer preferences for healthier bakery products, and changes in culture & lifestyle in Asian countries drive the growth of the global carob market. However, the availability of healthier substitutes affecting to the growth of the market. Moreover, demand for natural sweeteners and a surge in adoption for animal feed present significant growth opportunities for the carob market.

 

Europe dominates the carob market followed by the Asia Pacific. Increasing demand for carob powder in various bakery products and confectioneries has provided a boost for the carob market. Furthermore, the presence of major carob-producing countries like Italy, Spain, and Portugal is contributing to the growth of the market in Europe. The growth in consumption of carob in confectionery products is also driving the growth of the market. The developing countries like China and India are expected to occupy major carob market shares during the upcoming period.

 

Segment Covered

The report on the global carob market covers segments such as type, application, and distribution channel. On the basis of type, the sub-markets include powder, gum, and others. On the basis of application, the sub-markets include bakery and confectionery, nutrition and supplements, dairy products, pharmaceuticals, and others. On the basis of distribution channel, the sub-markets include online retail, retail stores, online B2B, and B2B direct supply.

 

Carob Market


Companies Profiled:

The report provides profiles of the companies in the market such as EURODUNA AMERICAS INC, CAROB S.A, Australian Carobs Pty Ltd, CyberColloids Ltd, Savvy Foods Ltd, Carobs Australia Inc, The Hain Celestial Group, Inc, Creta Carob, Lewis Confectionery Pty Ltd, and MADANARGAN.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the carob market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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