Global Carob Market by Type (Liquid, Solid), By Application (Online, Offline) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The Global Carob Market size was valued at $13 million in 2016 and is estimated to be worth $19 million by 2021, growing at a CAGR of 3% This growth can be attributed mainly due to increasing demand for vegan and vegetarian food products as well as the rising awareness about the health benefits associated with carob products in developed countries such as North America and Europe.

Carob is a pod-bearing tree that bears large leathery leaves and grows up to 15 meters in height. The long pods are harvested when they turn brown, then the pulp (which consists of seeds) is extracted for food or feed products while the shells provide the raw material for plastics manufacturing. Carob trees can be grown at moderate levels of fertility with little irrigation and no fertilizer; though their growth will not be as rapid as other crops such as cocoa or coffee without significant application of fertilizers and irrigation water.

Carob is used as a food ingredient for various desserts, porridge, ice cream, and coffee. Carob pulp is ground to make a flour substitute for those allergic to gluten or wheat products. Carob trees can also be used as ornamental trees in landscaping where they are drought-tolerant plants that need little irrigation or fertilizer. The sweet pods are yielded after the harvest season from August to April with a good yield on average of 400 kg per hectare at 12% total dry matter content (TMD).

On the basis of Type, the market is segmented into Liquid Carob and Solid Carob. Both these segments are expected to witness considerable increase over the forecast period owing to their wide acceptance across end-use industries including beverage, bakery industry, confectionery products, etc., along with many other benefits like being gluten-free; certified kosher, and vegan-friendly which make them suitable for consumption irrespective of demographic or geographic boundaries.

Liquid Carob:

Liquid Carob is a popular product in the United States. It’s made by grinding up carob pods, mixing them with water, and then boiling the mixture for several hours until it becomes thick. The result is often used as an alternative to chocolate syrup on ice cream or added to coffee drinks, shakes, and other recipes. Liquid Carob can also be eaten alone straight from the jar.

Solid Carob:

Solid carob is a chocolate-like confection made from the dried fruit of the Carob tree. The dried and sweetened pulp tastes similar to dark chocolate, but with a much more subtle flavor. Solid carob can be eaten as an alternative to cocoa powder in recipes such as brownies or cakes, where it may provide some additional natural sweetness and texture without altering the taste too dramatically.

Traditional preparations are done using unsweetened boiled water for five hours during which time its consistency thickens considerably; this mixture then becomes liquid carob or "caro syrup", which is used by manufacturers who process into various shapes including tablets, balls, strings, etc., before drying them again when they take on their final form.

On the basis of Application, the market is segmented into Online and Offline. The offline segment accounted for a significant share of the market in 2016, and it is projected that this trend will continue until 2020, while after 2020 there would be steady growth in both segments.

On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. The North American market t is expected to dominate the global Carob market in terms of revenue by 2020. In North America, the US dominates the market with a maximum share which stands at 41% followed by Canada and Mexico.

The European region holds a huge potential for this industry due to geographical proximity and cultural similarities between countries that are key players on this continent such as Germany, France, UK, etc.

Asia-Pacific region has an increasing demand for liquid carob products from China and India. The Middle East & Africa can be considered as one of the fastest-growing regions where a high amount of solid carob products consumption is seen with the increase in population growth rate over time.

Latin American Region will witness significant CAGR during the forecast period owing to stable economic condition coupled with rising disposable income.

Growth Factors For The Global Carob Market:

The growth in this market can be attributed to the benefits it offers over other natural sweeteners, such as being vegan and gluten-free with no side effects or aftertaste. Carob has an advantage on sugar due to its low glycemic index which means that it's unlikely to trigger sharp fluctuations in blood glucose levels, making it suitable for people who are diabetics or have heart disease risk factors. It also contains antioxidants like pectin and polyphenols which make it anti-inflammatory and good for digestion. In addition, consumers are increasingly turning towards healthy food sources including nuts & seeds such as carobs since they contain protein, minerals, and fiber.

Up Market Research published a new report titled “Carob Market research report which is segmented by Types (Liquid, Solid), By Applications (Online, Offline), By Players/Companies Australian Carobs, Carob, Euroduna Americas, CyberColloids, The Hain Celestial Group, Savvy Foods, Carobs Australia, Creta Carob, Lewis Confectionery, Madanargan”. 

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Carob Market Report Segments:

The market is segmented by Type Liquid, Solid and By Application Online, Offline.

Some of the companies that are profiled in this report are:

1. Australian Carobs
2. Carob
3. Euroduna Americas
4. CyberColloids
5. The Hain Celestial Group
6. Savvy Foods
7. Carobs Australia
8. Creta Carob
9. Lewis Confectionery
10. Madanargan

Carob Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Carob Market

Overview of the regional outlook of the Carob Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Carob Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Carob Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Liquid

                2. Solid

                1. Online

                2. Offline

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Carob Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Carob Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.