Carob Market: Analysis by Growth, segmentation, performance, Competitive Strategies and Forecast to 2027

Carob (Ceratonia siliqua) is a native plant to the eastern Mediterranean especially to the Middle East countries. Carob is also called as locust bean and is primarily cultivated for its edible pods in majorly Mediterranean region which includes Southern Europe, Northern Africa and the Canary Islands. Carob powder is also used as a substitute for cocoa powder in various bakery products. Carob based bars is consumed as an alternative to chocolate based bars worldwide. Carob do not contain caffeine and theobromine (which is intolerant to some animals) and therefore is widely used in chocolate flavored pet food for dogs and other animals. Carob pod meal is widely used as a rich source of energy for livestock, particularly for ruminants. Carob in food industry is used as a thickening agent, gelling agent, stabilizing agent or as a substitute for low-calorie food products. Carob is fat-free, rich in pectin and contains high amount of proteins. Carob is primarily used in the production of confectionery and bakery products and variety of beverages. Carob is also used for making flour, molasses and is a substitute for coffee.

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Global Carob: Market Segmentation

The global carob market is segmented on the basis of form, distribution channel, application and region. The carob market is segmented on the basis of form such as solid and liquid. The carob market is segmented on the basis of distribution channel which includes fitness stores, health stores, online and others. The carob market is segmented on the basis of application such as bakery products which includes cakes, cookies, pancakes, bread. Carob is also used in snack bars, cocoa based food products and beverages, cereals, dairy products and others. Carob pod meal is widely used for livestock. Carob syrup is used as a natural sweetener and is considered as a rich source of calcium. Hence, the global carob market is expected to significantly increase the revenue contribution over the forecast period.

Global Carob Market: Regional Outlook

Geographically, the global carob industry can be divided by major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Globally, among all regions, Europe has developed as the dominant region in global carob market followed by Asia Pacific. Increasing demand for carob powder in various bakery products and confectionery, has strengthened the growth of global carob market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.

Global Carob Market: Growth Drivers

The global carob market driving factors are increasing demand for bakery products coupled with the convenience of foods. Increasing opportunities in bakery and confectionery industry is also another factor in driving the carob market along with rise in production of carob. Carob is also used for treating diarrhea, cancer, helps in reducing cholesterol level, and are some of the factors driving the global carob market. Carob powder is widely used as an alternative for cocoa powder due to its health benefits which is a major driving factor for the global carob market. Hence, the global carob market is expected to observe robust growth over the forecast period.

Global Carob Market: Key Players

Some of the key players identified across the value chain of the global carob market include Australian Carobs Pty Ltd., CAROB S.A., EURODUNA AMERICAS INC., CyberColloids Ltd., The Hain Celestial Group, Inc., Savvy Foods Ltd., Carobs Australia Inc., Creta Carob, Lewis Confectionery Pty Ltd and MADANARGAN. The companies are expected to expand their business by enhancing their product portfolio in global carob market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global carob market till 2027.

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The report covers exhaustive analysis on:

Carob Market Segments
Carob Market Dynamics
Historical Actual Market Size, 2015 – 2016 for Global Carob Market
Carob Market Size & Forecast 2017 to 2027
Supply & Demand Value Chain
Carob Market Current Trends/Issues/Challenges
Competition & Companies involved in Global Carob Market
Technology
Value Chain
Global Carob Market Drivers and Restraints

Regional analysis for Global Carob Market include

North America
US & Canada
Latin America
Brazil, Argentina & Others
Western Europe
EU5
Nordics
Benelux
Eastern Europe
Asia Pacific
Australia and New Zealand (ANZ)
Greater China
India
ASEAN
Rest of Asia Pacific
Japan
Middle East and Africa
GCC Countries
Other Middle East
North Africa
South Africa
Other Africa

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Report Highlights:

Shifting Industry dynamics
In-depth market segmentation
Historical, current and projected industry size recent industry trends
Key competition landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance
Must-have information for market players to sustain and enhance their market footprint

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