Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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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