Carob Market Analysis

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.

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.

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