PUBLISHER: Value Market Research | PRODUCT CODE: 1542442
PUBLISHER: Value Market Research | PRODUCT CODE: 1542442
The global demand for Carob Powder Market is presumed to reach the market size of nearly USD 92.24 Million by 2032 from USD 61.96 Million in 2023 with a CAGR of 4.52% under the study period 2024-2032.
Carob powder, used as an alternative to cocoa powder, is obtained from dried and roasted carob pods. It is sweet but with a unique taste. It is virtually fat-free, high in sugar and carbs when compared to cocoa powder. There are many bioactive compounds like dietary fiber, polyphenols, flavonoids, cyclitols, and tannins found. These compounds are highly beneficial for people looking for foods to control blood sugar, reduce cholesterol, etc. It is anti-cancerous, caffeine- and gluten-free and is safe to use for infants. It is available in powdered, chip, or syrup form and can be used as an ingredient in cakes and cookies.
The global community adopting healthier gluten-free alternatives for use in baking products is the primary stimulant for the carob powder market's growth. The highly economical carob used extensively as a thickening agent and a stabilizer to replace fat in low-calorie food products will benefit market growth. The rising prevalence of lifestyle disorders will be a market booster. The various health benefits of carob like high calcium content, caffeine-free, and cholesterol-free makes it a popular choice among the female community. High disposable income and the growing percentage of the vegan population will boost the market growth. The expanding popularity of confectionery and baked goods among the suburban population will further propel market growth. The main concern for the market's development is the allergic reaction to carob witnessed in specific communities.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Carob Powder. The growth and trends of Carob Powder industry provide a holistic approach to this study.
This section of the Carob Powder market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Carob Powder market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Carob Powder market include The Australian Carob Co., The Carob Kitchen, Frontier Co-Op., Chatfield'S, OliveNation, NOW Foods, Ingredients UK, Jedwards International Inc., Eurl Ouasdi International, Healthworks. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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