COVID-19 Impact On Carob Industry Regional Outlook, Industry Development forecast to 2024

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 ****** Carob Industry has been segmented based on category, form, application, and region.

The ****** Carob Market has been segregated, by category, into conventional and organic. The conventional segment is expected to dominate the ****** 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 ****** Carob Market has been divided into powder, gum, and others. The gum segment is expected to dominate the ****** 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.

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Key Players

Some of the key players in the ****** 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)

Regional Analysis

Based on region, the ****** Carob Market has been segmented into North America, Europe, Asia-Pacific, and RoW. Europe is expected to dominate the ****** 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 ****** 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 ****** 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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