The global carob market is anticipated to grow at a significant CAGR of 6.5% during the forecast period. The primary factors contributing to the growth of the market include rising health awareness among consumers. People are getting conscious towards the consumption of healthy food that is booming the demand for better food alternatives. Moreover, the prevalence of various diseases such as diabetes is motivating consumers to adopt healthier food substitutes in their lifestyles. According to the International Diabetes Federation, 463 million adults (20-79 years) were living with diabetes globally in 2019, which is expected to rise to 700 million by 2045. The scenario is anticipated to increase the application of carob as a natural sweetener, which will drive the market growth. Several market players are launching products made from carob for diabetic patients.For instance, in May 2020, Pharmactive recently launched CSAT+, a mix of carob bean extracts that helps in weight management and lowering insulin resistance. CSAT+ can aid in limiting excessive calorie consumption, reducing unhealthy eating habits, and prolonging the feeling of satisfaction. However the high price of powder, the limited availability of raw materials, and availability of substitute cocoa powder  will hamper the carob market. 

Impact of COVID-19 Pandemic on Global Carob Market

The outbreak of COVID-19 had a serious implications in all the economic sectors. The pandemic has created medical emergency, that has grown the demand for immunity food items, and hygiene products in the market. Various consumers have shifted to consuming reliable, safe, and healthier foods. It has increased the demand for healthy and staple food items. However, the packaged & processed food, cheese, pastries, coffee, milkshakes, chocolates, sweets, and other bakery products have witnessed low demand in 2020. Due to this, the demand for carob gum and carob powder in the production of all these packaged & processed food products has dropped. Several pharmaceutical medicines are manufactured from carob, whose demand were high during 2020. This had provided support to the downtrend carob market in 2020. Along with this lockdown was imposed in many nations, which had hampered the supply chain of carob products. 

Segmental Outlook 

The global carob market is segmented based on product type and application. Based on the product type, the market is segmented into gum and powder. Based on the application, the market is sub-segmented into the bakery & confectionary, nutrition & supplements, dairy products, pharmaceuticals and, others.The above-mentioned segments can be customized as per the requirements.

Global Carob  Market Share by Product Type, 2020 (%)

Carob Gum has Higher Demand in the Global Carob Market

Among the product type, the gum segment is anticipated to dominate and significantly grow over the forecast period. The carob gum is gaining more traction in the pharmaceutical sector due to its medicinal benefits such as better blood sugar, low cholesterol level, best for gastro reflux diseases, and to minimize colon cancer. Carob gum is an ideal alternative of cocoa gum. According to the National Center for Biotechnology Information (NCBI), carob bean gum used as a soluble dietary fiber, can lower plasma cholesterol concentrations. Moreover, carob bean gum can safely and effectively reduce hypercholesterolemia and blood lipids in normal adults and children, if fed for more than 3 months. 

Carob powder also has several health benefits which will drive its market demand. Polyphenols and dietary fiber have the potential to reduce cancer risk, while carob powder has health benefits of both the nutrients. Therefore, carob powder has great potential value in the prevention and treatment of colorectal cancer.

Regional Outlooks

The global carob market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Europe major a major share in the carob market, and is expected to maintain its dominance during forecast period.The carob products market in Europe is primarily driven by high consumption of bakery & confectioneries and dairy products

Global Carob  Market Growth, by Region 2021-2027

The Asia-Pacific region is Anticipated to grow  fastest in the Global Carob Market

The Asia-Pacific region is expected to grow fastest during the forecast period. The Asia Pacific region has significant market for carob bean gum due to the rising food and beverage sector in Asian countries such as China, Japan, and India. Additionally, consumers are highly inclined towards the consumption of healthier food substitutes that are escalating the demand for carob in this region. The presence of various toxic compounds in cocoa is encouraging manufacturers to adopt healthy substitutes of cocoa and thus, the demand for carob is expected to increase in this region.

Market Players Outlook

The major companies serving the global carob market include - Alpine Herb Co. Inc., Altrafine Gums, Cargill, Incorporated., DuPont de Nemours, Inc., Gumix International, Inc., SARcom GmbH, Tate & Lyle plc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, The Carob Kitchen had launched a range of Carob Milk Bar, prepared from organically grown Australian carob and real cocoa butter. This product range consists of no added sugar and is theobromine-free, caffeine-free, gluten-free, and Palm Kernel Oil-free.

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

  • Key companies operating in the global carob market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where’ in the market.