Carob Powder Market Size, Share & Growth 2030

Carob Powder Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Grade (Conventional, and Organic), and Application (Bakery and Confectionery, Pharmaceuticals and Nutraceuticals and Others)

  • Report Code : TIPRE00015511
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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The carob powder market size is expected to grow from US$ 25.79 million in 2022 to US$ 36.91 million by 2030; it is estimated to record a CAGR of 4.6% from 2022 to 2030. 

Market Insights and Analyst View:

Carob powder is a natural and versatile ingredient derived from the pods of the carob tree (Ceratonia siliqua). This unique ingredient has gained popularity in the food industry due to its various appealing attributes. Carob powder is often used as a healthier alternative to cocoa, as it is naturally caffeine-free, lower in fat, and boasts a sweet, mild flavor with undertones of roasted notes. It's a favored choice among health-conscious consumers, as it is gluten-free, vegan-friendly, and considered a clean-label ingredient. Furthermore, carob powder's natural sweetness reduces the need for additional sugars in recipes, making it a valuable component for those aiming to reduce sugar content in their products. It can be incorporated into a wide range of food and beverage items, including baked goods, chocolate substitutes, smoothies, and dietary supplements. The carob tree's sustainable cultivation in arid regions further aligns with environmentally conscious food production. The carob powder market is growing significantly due to the increasing health concerns, especially among the youth globally. The gluten-free and allergen-free attributes of carob powder have indeed positioned it as a fundamental ingredient in the development of gluten-free products and snacks tailored to individuals with dietary restrictions or allergies. Its natural gluten-free status makes it a go-to choice for manufacturers looking to create products that cater to those with celiac disease or gluten sensitivities, providing a safe alternative in gluten-free baked goods, confectionery, and other food items. Furthermore, its allergen-free nature, which includes being free from common allergens like dairy, nuts, and soy, is a boon for individuals with multiple allergies or sensitivities, allowing them to enjoy a wider range of snacks and treats without fear of adverse reactions. This factor is significantly driving the global corab powder market growth.

The corab powder market size is expected to grow from US$ 25.79 million in 2022 to US$ 36.91 million by 2030; it is estimated to record a CAGR of 4.6% from 2022 to 2030.

Growth Drivers and Challenges:

The gluten-free and allergen-free attributes of carob powder have positioned it as a fundamental ingredient in the development of gluten-free products and snacks tailored to individuals with dietary restrictions or allergies. Its natural gluten-free status makes it a go-to choice for manufacturers looking to create products that cater to those with celiac disease or gluten sensitivities, providing a safe alternative in gluten-free baked goods, confectionery, and other food items. Furthermore, as the adoption of vegan and plant-based diets continues to surge, carob powder has emerged as a sought-after dairy-free and vegan-friendly ingredient in the creation of delectable desserts and beverages. This versatile and plant-based alternative to cocoa and dairy products offers a wealth of possibilities for vegan and lactose-intolerant individuals. It serves as a key component in vegan chocolate, carob-based smoothies, dairy-free ice creams, and an array of plant-based confections, enhancing the flavor and texture of these treats. However, the lack of widespread awareness about carob powder compared to more mainstream ingredients like cocoa poses a significant restraint on its adoption and demand. Cocoa has long been a staple in the world of confectionery, baking, and beverages, with a well-established global presence. In contrast, carob powder is relatively less recognized, making it challenging for consumers to identify and understand its benefits and uses. This limited awareness extends to both consumers and food manufacturers. Many consumers are unfamiliar with carob powder and its potential as a healthier alternative to cocoa.

Strategic Insights

Report Segmentation and Scope:

The global corab powder market is segmented on the basis of grade, and application. Based on grade, the carob powder market is segmented into conventional, and organic. Based on application, the carob powder market is segmented into bakery and confectionery, pharmaceuticals and nutraceuticals and others. Geographically, the market is categorized into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Report Segmentation and Scope:

Segmental Analysis:

Based on grade, the corab powder market is segmented into conventional, and organic. The conventional segment held the largest market share in 2022. Conventional carob powder, a versatile and naturally sweet ingredient, is derived from the carob tree's pods and has been a trusted culinary staple for generations. This finely ground powder carries a rich, mildly roasted flavor profile and is often used as a nutritious cocoa substitute. Its low-fat content and caffeine-free nature make it a healthier choice for those seeking to reduce their cocoa and caffeine intake. Conventional carob powder is recognized for its gluten-free and allergen-free attributes, making it a popular inclusion in recipes for individuals with dietary restrictions. It is frequently used in baking, confectionery, and beverages, enhancing the taste and texture of a wide range of products. Based on application, the corab powder market is segmented into bakery and confectionery, pharmaceuticals and nutraceuticals and others. The corab powder market share of the bakery and confectionery segment was notable in 2022. Carob powder plays a vital role in the world of bakery and confectionery as a versatile and healthier alternative to cocoa. In the bakery, it is employed to create a wide array of delicious treats, from carob-infused muffins and cookies to indulgent cakes and brownies. Its naturally sweet and mildly roasted flavor enriches the taste of baked goods, while its low-fat and caffeine-free attributes align with health-conscious consumer preferences. Carob powder also shines in confectionery, where it's used to craft delectable chocolates, truffles, and caramels. As a dairy-free option, it forms the basis for vegan chocolate bars and candy, allowing those with dietary restrictions to enjoy sweet indulgences.

Segmental Analysis:

Regional Analysis: 

The corab powder market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Europe dominated the global corab powder market, which accounted for ∼US$ 10 million in 2022. North America is also a major contributor, holding a significant global corab powder market share. The North America corab powder market is expected to reach over US$ 12 million by 2030. Asia Pacific is anticipated to record a considerable CAGR of overt 5% from 2022 to 2030. The Asia Pacific corab powder market, by country, is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The market is driven by the growing demand for corab powder by the bakery and confectionary industry. While carob powder is not native to the region, it has gained traction due to the increasing demand for healthier and natural food alternatives. Health-conscious consumers in countries like Japan, Australia, and South Korea are turning to carob powder as a low-fat, caffeine-free, and allergen-free substitute for cocoa. The growing awareness of dietary restrictions, including gluten intolerance and lactose intolerance, has driven the market's expansion.

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the corab powder market are listed below:

  1. In 2023, Missy J’s Carob & Sweet Treats announced that it has been acquired by Azure Standard, America’s premier distributor of healthy foods and products for home, health and garden.

COVID-19 Pandemic Impact: 

The COVID-19 pandemic adversely affected almost all industries in various countries. Lockdowns, business shutdowns, and travel restrictions in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the food and beverage industry. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies reported delays in product deliveries and a slump in their product sales in 2020. Due to the pandemic-induced economic recession, consumers became cautious and selective in purchasing decisions. Consumers significantly reduced nonessential purchases due to lower incomes and uncertain earning prospects, especially in developing regions. Many corab powder manufacturers reported declining profits due to reduced consumer demand during the initial phase of the pandemic. However, by the end of 2021, many countries were fully vaccinated, and governments announced relaxation in certain regulations, including lockdowns and travel bans. All these factors boost the growth of the corab powder market across different regions.

Competitive Landscape and Key Companies:

Suntralis Foods; Creta Carob; Forest Whole Foods; Industrias Ralda; Medikonda Nutrients; NutriCargo LLC; Royal Nut Company; Ingredients UK Limited; Santos Organics; and are among the prominent players operating in the global corab powder market. These players offer high-quality corab powder and cater to many consumers across the world.

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Report Coverage
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Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
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Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

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The List of Companies

2. Alpine Herb Company Inc.
3. Barry Farm Foods
4. Frontier Co-op.
5. Ingredients UK Ltd.
6. Jedwards International, Inc.
7. NOW Foods
8. Oak Haven Inc.
10. The Carob Kitchen

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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