Carob Market, Covid-19 Outbreak, Production, Functions, Trends, Regional Analysis, Segmentation and Forecast to 2027

Market Highlights

is harvested from Ceratonia siliqua or the carob tree which belongs to the legume family. pods are rich in calcium, sodium, potassium, magnesium, fiber, and protein, resulting in its increasing application in the food industry. Carob is a natural sweetener and is used as a healthier substitute for chocolate as it contains low amounts of fat and sugar and does not contain caffeine.

The global carob market has been segmented based on category, form, application, and region.

The global carob market has been segregated, by category, into conventional and organic. The conventional segment is expected to dominate the global carob market during the assessment period. However, the organic segment is expected to register a higher CAGR during the forecast period owing to rising consumer preference for organic products.

On the basis of form, the global carob market has been divided into powder, gum, and others. The gum segment is expected to dominate the global carob market during the assessment period owing to the growing application of carob gum in the food industry as a substitute for guar gum. However, the powder segment is expected to exhibit the highest CAGR during the forecast period with rising application in the bakery and pharmaceuticals industries.

The global market for carob has also been classified, by application, as bakery and confectionery, dairy products, snacks, and others. The bakery and confectionery segment is expected to dominate the market. However, the snacks segment is expected to register the highest CAGR during the forecast period. Growing demand for healthy snacks is driving the growth of the segment.

Regional Analysis

the basis of region, the global carob market has been segmented into North America, Europe, Asia-Pacific, and RoW. Europe is expected to dominate the global carob market with the presence of key cultivation areas in Italy, Spain, and Portugal. North America is expected to hold a major share of the global carob market with the US being the major contributor to the growth of the market. The rising demand for carob in breakfast cereal is contributing to the growth of the regional market. Asia-Pacific also held a significant share of the global carob market in 2018 and the regional market is expected to register the highest CAGR during the forecast period. In the rest of the world, Africa is projected to hold the majority share of the carob market.

Segmentation

Global Carob Market has been segmented based on category, form, application, and region.

By category, the global carob market has been classified as conventional and organic.

On the basis of form, the global carob market has been divided into powder, gum, and others.

The global carob market has also been segregated, based on application, into bakery and confectionery, dairy products, snacks, and others.

The global carob market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

The North American carob market has further been segmented into the US, Canada, and Mexico. The European carob market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The carob market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The carob market in the rest of the world has been segmented into South America, the Middle East, and Africa.

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Key Players

Some of the key players in the global carob market Australian Carobs Pty Ltd. (Australia), Tate & Lyle (UK), DuPont (US), Carob S.A. (Spain), Stavros Parpis Foods Ltd (Cyprus), Altrafine Gums (India), Pedro Perez (Spain), Savvy Carob Co Ltd (UK), AEP Colloids (US), and TIC Gums, Inc. (US)

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