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Carob Market | Industry Review, Research Study, Business Statistics and Growth to 2024

iCrowdNewswire   Jan 11, 2021  10:54 AM ET

Market Insight

Carob is harvested from Ceratonia siliqua or the carob tree which belongs to the legume family. Carob 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.       

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Key Players

Some of the key players in the Global Carob Market are 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)

Market Segment

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

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.

Regional Analysis

On 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.

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