The carob fruit originates from the Mediterranean Sea and is characterized by its dark brown color. The seeds and pulp of the fruit are used as thickeners, stabilizers and sweeteners in the food industry. Carob market report the world by Market Research Future (MRFR) breaks down the sheer scale and scope by defining its drivers and challenges. It contains forecasts for the period from 2022 to 2030 (forecast period).
market scope
The global carob market is primarily driven by its use as a viable substitute for cocoa powder. It has also been used as a substitute for guar gum due to its similar properties. Its use as fodder for animal consumption can drive market demand. The large livestock industry and the demand for meats could fuel the demand for carobs in the coming years. Studies indicating the antioxidant properties of carob flour in cereals will play a major role in the market.
Medicinal applications of carobs that include treating cancer and diarrhea, managing digestion and lowering cholesterol levels will bode well for the market. Carob does not contain caffeine and can be used as a chocolate substitute for consumers with caffeine intolerance. The application of the ingredient in pet food due to the deficiency of theobromine can drive the market growth till 2030.
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Distribution
The global carob market has been segmented by category, form, and application.
By category, the global carob market has been classified as conventional and organic.
On the basis of form, the global carob market is segmented into powder, gum, and others.
The global carob market has also been separated, on the basis of application, into bakery and confectionery, dairy products, snacks and others.
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regional analysis
The global carob market is studied with respect to four key regions – North America, Europe, Asia Pacific (APAC) and Rest of the World (RoW).
Europe is bound to lead the world market thanks to the main carob producing countries of Portugal, Spain and Italy. High consumption of baked goods can encourage the use of cauliflower and drive its demand exponentially. The development of new flavors to appeal to the consumers of Mediterranean cuisines is expected to reach a good peak for the market. Manufacturers of nutritional supplements for sports decided to include carobs in their offer due to its properties similar to chocolate.
North America can contribute to the global carob market thanks to the massive demand in the US which is aware of its benefits and the consumption of healthy foods can stimulate the demand for the foods contained in carob. The development of food additives extracted from the plant and used as a thickening and stabilizing agent will bode well for the market.
Finally, APAC could exhibit an exceptional growth rate during the assessment period owing to large consumption of food & beverages and bakery items. The high protein content of carob and a potential alternative to soy or dairy products for athletes or diabetics could bode well for the market. Furthermore, awareness of the health benefits of carob and its effectiveness in preventing and treating hypercholesterolemia can strengthen demand in the global market.
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Outlook contest
DuPont, Australian Carobs Pty Ltd., Altrafine Gums, Savvy Carob Co Ltd, AEP Colloids, Stavros Parpis Foods Ltd, Pedro Perez, TIC Gums, Inc., Carob SA, and Tate & Lyle are reputed players in the global carob market.
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