What is Carob Market?
The carob is a flowering evergreen tree or shrub in the legume family, Fabaceae. It is widely cultivated for its edible pods, and as an ornamental tree in gardens and landscapes. The carob tree is native to the Mediterranean region and the Middle East. In the Mediterranean, carob pods are often used as animal feed, and in times of famine, as "the last source of food in hard times". The ripe, dried, and sometimes toasted pod is often ground into carob powder, which is sometimes used as an ersatz cocoa powder, especially in the 1970s natural food movement.
Highlights from Carob Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Cyber Colloids (United Kingdom), Madanargan (Morocco), The Hain Celestial (United States), Australian Carobs (Australia), Lewis Confectionary (Australia), Savvy Foods (Australia), Royal Forest (Russia), LBG Silicia Ingredients (Italy), Carob S.A. (Spain) and Nexira (France) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Carob market throughout the forecasted period.
Cyber Colloids (United Kingdom), Madanargan (Morocco), The Hain Celestial (United States), Australian Carobs (Australia), Lewis Confectionary (Australia), Savvy Foods (Australia), Royal Forest (Russia), LBG Silicia Ingredients (Italy), Carob S.A. (Spain) and Nexira (France) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Chatfield's (United States). Carob Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Pharmaceuticals, Dairy products, Food and Beverages, Cereals and bakery |
Nature | Organic,Conventional |
Form | Gum,Powder,Others |
Distribution channel | Online,Offline |
On the basis of geography, the market of Carob has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Changing Lifestyle of Consumers
Market Growth Drivers:
Health Benefits if Carob is Fuelling the Market Growth and Changing Lifestyle of Consumers
Challenges:
Stiff Competition Among the Major Players
Restraints:
Health Issues May Hamper the Market
Opportunities:
Wide Range of Applications is Boosting the Market Growth and Rising Disposable Income
Key Target Audience
Manufacturers, Raw material suppliers, Distributors, Researchers, Government and Others
Market Leaders & Development Strategies
In March 2021, Nexira acquired Unipektin Ingredients AG, a Swiss company that offers hydrocolloids and other ingredients. Through this acquisition, Nexira’s expanded its presence in the market segments of plant-based alternatives, dairy alternatives as well as meat substitutes.
In November 2022, CarobWay, an Israel-based food tech start-up partnered with the Jewish National Fund-KKL on a nationwide carob tree research initiative. This move was directed to attain a full analysis of domestic trees and identification of the most fruitful carob varieties, along with their optimum growing conditions.