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From 2023 to 2030, the worldwide carob powder market is projected to expand from a 2022 valuation of USD 53,929 mln at a CAGR (compound annual growth rate) of 6.2%.
The desire for better food options has increased as people have become more health conscious. Since carob powder is naturally sweet, low-fat, and caffeine-free, it is often used as a healthier substitute for cocoa powder. Customers concerned with their health will appreciate that it has no gluten and is high in protein, fiber, and calcium. As a result, the product has found widespread application in the fields of confectionery, baking, and even pet food. It doesn't contain any of the usual allergen suspects like milk, soy, or nuts, so it's safe for those with food sensitivities. So, it's no surprise that vegans love it too!
The caffeine-free feature of the product makes it incredibly popular, resulting in its greater adoption among caffeine-intolerant consumers, thereby boosting market growth. In addition, its calcium content is around three times that of chocolate. That's why it's so popular among those who are calcium deficient. Carob powder is useful in the food sector because of its many favorable functional qualities. For instance, it can be used as a natural thickener to give items a silky feel while also boosting their flavor. These qualities make it a desirable component in many products, particularly sweets, baked goods, and drinks. In addition, carob trees are considered a sustainable crop due to its capacity to grow in arid environments with minimum water requirements.
Because of its many beneficial properties, including its high calcium, fiber, and protein content, carob powder has recently seen a surge in popularity among consumers. It doesn't require any added sugar because it's naturally sweet, vegan, gluten-free, and caffeine-free. Due to its high fiber content, absence of fat, and low cholesterol level, carob is quickly gaining favor among health-conscious customers.
As a powder, carob has no sodium. For those trying to limit their sodium intake, this is a fantastic choice. High salt intake has been linked to an increased risk of hypertension, cardiovascular disease, stroke, osteoporosis, and kidney disease. The average American consumes 3,400 milligrams of sodium per day, as reported by the Mayo Clinic. The RDA for calcium is 2,300 milligrams, so this is a lot more than that. Even less than that—1,500 mg daily—is what the American Heart Association suggests. Thus, carob is likely to gain substantial momentum in North America market during the forecast years.
As a result of the global spread of COVID-19, there have been significant repercussions across all areas of the economy. Food, hygiene, and medical goods markets have all seen increases in demand as a result of the pandemic's creation of medical emergencies around the world. In the COVID-19 scenario, people have a stronger preference for eating nutritious, dependable, and secure foods. Therefore, it has improved the sales of traditional, healthful, and staple food items. The epidemic has led to an increase in demand for frozen non-vegetarian food, fruits and vegetables, eggs, legumes, wheat, and whole grains. In contrast, sales of packaged and processed foods as well as coffee, pastries, milkshakes, candies, chocolates, cheese, and other bakery products have decreased, resulting in a corresponding drop in demand for carob. In addition, the production and supply chain of carob products have been impeded by the lockdown scenario in several nations. After COVID-19, consumers may forever alter their purchasing habits. Businesses should prepare for a recovery by creating a solid sales strategy. E-commerce platforms and omnichannel distribution models could become necessities in their supply chain.
The fact that it may be used in both industrial and domestic settings is another factor fueling the market. The demand for vegan food and drink is rising in tandem with the worldwide vegan population. Key potential possibilities for the global carob powder market may be found in the rising demand for vegan products. The average yearly growth of plant-based or vegan food product launches increased by 21% between 2015 and 2019, according to data published by The Future of Plant-based, while plant-based beverage launches surged by 58% during the same time period.
Report Coverage
Global Carob Powder research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Carob Powder report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Carob Powder competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Carob Powder market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Carob Powder market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Carob Powder market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DUPONT, ALTRAFINE GUMS, STAVROS PARPIS FOODS LTD., Carob S.A., Pedro Perez, TIC GUMS INC., SAVVY CAROB CO. LTD., AEP COLLOIDS, TATE & LYLE PLC, Australian Carobs Pty Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Carob Powder market based on the below-mentioned segments:
Global Carob Powder Market, By Product Type
Powder
Gum
Others
Global Carob Powder market, By Application
Bakery and Confectionery
Nutrition and Supplements
Dairy products
Pharmaceuticals
Others
Global Carob Powder Market, By Distribution Channel
Online retail
Retail Stores
Online B2B
B2B Direct Supply
Global Carob Powder market, Regional Analysis
The desire for better food options has increased as people have become more health conscious. Since carob powder is naturally sweet, low-fat, and caffeine-free, it is often used as a healthier substitute for cocoa powder. Customers concerned with their health will appreciate that it has no gluten and is high in protein, fiber, and calcium. As a result, the product has found widespread application in the fields of confectionery, baking, and even pet food. It doesn't contain any of the usual allergen suspects like milk, soy, or nuts, so it's safe for those with food sensitivities. So, it's no surprise that vegans love it too!
The caffeine-free feature of the product makes it incredibly popular, resulting in its greater adoption among caffeine-intolerant consumers, thereby boosting market growth. In addition, its calcium content is around three times that of chocolate. That's why it's so popular among those who are calcium deficient. Carob powder is useful in the food sector because of its many favorable functional qualities. For instance, it can be used as a natural thickener to give items a silky feel while also boosting their flavor. These qualities make it a desirable component in many products, particularly sweets, baked goods, and drinks. In addition, carob trees are considered a sustainable crop due to its capacity to grow in arid environments with minimum water requirements.
Because of its many beneficial properties, including its high calcium, fiber, and protein content, carob powder has recently seen a surge in popularity among consumers. It doesn't require any added sugar because it's naturally sweet, vegan, gluten-free, and caffeine-free. Due to its high fiber content, absence of fat, and low cholesterol level, carob is quickly gaining favor among health-conscious customers.
As a powder, carob has no sodium. For those trying to limit their sodium intake, this is a fantastic choice. High salt intake has been linked to an increased risk of hypertension, cardiovascular disease, stroke, osteoporosis, and kidney disease. The average American consumes 3,400 milligrams of sodium per day, as reported by the Mayo Clinic. The RDA for calcium is 2,300 milligrams, so this is a lot more than that. Even less than that—1,500 mg daily—is what the American Heart Association suggests. Thus, carob is likely to gain substantial momentum in North America market during the forecast years.
As a result of the global spread of COVID-19, there have been significant repercussions across all areas of the economy. Food, hygiene, and medical goods markets have all seen increases in demand as a result of the pandemic's creation of medical emergencies around the world. In the COVID-19 scenario, people have a stronger preference for eating nutritious, dependable, and secure foods. Therefore, it has improved the sales of traditional, healthful, and staple food items. The epidemic has led to an increase in demand for frozen non-vegetarian food, fruits and vegetables, eggs, legumes, wheat, and whole grains. In contrast, sales of packaged and processed foods as well as coffee, pastries, milkshakes, candies, chocolates, cheese, and other bakery products have decreased, resulting in a corresponding drop in demand for carob. In addition, the production and supply chain of carob products have been impeded by the lockdown scenario in several nations. After COVID-19, consumers may forever alter their purchasing habits. Businesses should prepare for a recovery by creating a solid sales strategy. E-commerce platforms and omnichannel distribution models could become necessities in their supply chain.
The fact that it may be used in both industrial and domestic settings is another factor fueling the market. The demand for vegan food and drink is rising in tandem with the worldwide vegan population. Key potential possibilities for the global carob powder market may be found in the rising demand for vegan products. The average yearly growth of plant-based or vegan food product launches increased by 21% between 2015 and 2019, according to data published by The Future of Plant-based, while plant-based beverage launches surged by 58% during the same time period.
Report Coverage
Global Carob Powder research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Carob Powder report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Carob Powder competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Carob Powder market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | DUPONT, ALTRAFINE GUMS, STAVROS PARPIS FOODS LTD., Carob S.A., Pedro Perez, TIC GUMS INC., SAVVY CAROB CO. LTD., AEP COLLOIDS, TATE & LYLE PLC, Australian Carobs Pty Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Carob Powder Market from 2021 to 2030.
- Market Forecast for Carob Powder Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Carob Powder competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Carob Powder
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Carob Powder market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Carob Powder market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
DUPONT, ALTRAFINE GUMS, STAVROS PARPIS FOODS LTD., Carob S.A., Pedro Perez, TIC GUMS INC., SAVVY CAROB CO. LTD., AEP COLLOIDS, TATE & LYLE PLC, Australian Carobs Pty Ltd.
Primary Target Market
- Market Players of Carob Powder
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Carob Powder market based on the below-mentioned segments:
Global Carob Powder Market, By Product Type
Powder
Gum
Others
Global Carob Powder market, By Application
Bakery and Confectionery
Nutrition and Supplements
Dairy products
Pharmaceuticals
Others
Global Carob Powder Market, By Distribution Channel
Online retail
Retail Stores
Online B2B
B2B Direct Supply
Global Carob Powder market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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