Carob Market 1

Carob Market Research Report
Carob Market Research Report- Global
Forecast till 2024
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Carob Market Research Report
Carob Market Highlights
Carob Market 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.
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.
Based on 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.
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)
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Regional Analysis
Based on 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.
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Carob Market Research Report
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Copyright © 2017 Market Research Future.