Embracing Ancient Tastes: Carob Extract Industry Resonates with Modern Consumers (2023-2033)

According to a recently published Carob Extract Market Analysis Report by Persistence Market Research, global Carob Extract sales in 2022 were estimated to be US$ 223.5 Million. By the end of the forecast period, the market is anticipated to reach a valuation of US$ 405.5 Million with a projected CAGR of 5.5% from 2023 to 2033. With a CAGR of more than 5.8% from 2023 to 2033, carob extract in gum form is anticipated to produce sizable revenue.

The carob extract market is witnessing a surge in demand as consumers embrace nature's healthy alternative to chocolate. Derived from the carob tree, this naturally sweet and nutritious extract offers a range of benefits, making it a popular choice among health-conscious individuals and those seeking delicious guilt-free indulgence.

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One of the driving factors behind the market's growth is the rising awareness about the health benefits of carob extract. It is low in fat, rich in fiber, and contains essential nutrients such as calcium, potassium, and magnesium. Carob extract is also naturally sweet, eliminating the need for additional sweeteners. As a result, it has gained popularity as a healthier substitute for chocolate in various food and beverage products.

Furthermore, carob extract is well-suited for individuals with dietary restrictions, including those with lactose intolerance or gluten sensitivity. It is naturally free from caffeine, theobromine, and gluten, making it an excellent option for those looking for allergen-free alternatives. Additionally, carob extract has a lower glycemic index compared to chocolate, making it suitable for individuals monitoring their blood sugar levels.

The versatility of carob extract is another factor contributing to its market growth. It can be used as a flavoring agent in a wide range of products such as confectionery, baked goods, beverages, and dairy alternatives. The unique taste of carob extract, which has notes of caramel and honey, adds a delightful twist to culinary creations, satisfying both the taste buds and the health-conscious consumer.

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The carob extract market is also benefiting from the growing trend of sustainable and ethically sourced ingredients. Carob trees are drought-tolerant and require fewer resources compared to cocoa trees, making them an environmentally friendly option. Additionally, carob trees play a role in preventing soil erosion and promoting biodiversity, further enhancing their appeal in the context of sustainable food production.

Companies Covered in This Report -

• Altrafine Gums
• Savvy Foods
• DuPont
• Carob S.A
• Stavros Parpis Foods Ltd.
• Altrafine Gums
• AEP Colloids
• Australian Carobs Co.
• Tate and Lyle
• Cargill Pvt. Ltd.

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Segmentation of the Carob Extract Market:

By Form:

• Powder
• Gum

By Application:

• Bakery and Confectionery
• Nutrition and Supplements
• Dairy Product
• Pharmaceuticals
• Others

By Distribution Channel:

• Online Retail
• Retail Stores
• Online B2B
• B2B Direct Supply

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

About us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

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This release was published on openPR.