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Carob Powder Market Size, Share & Trends Analysis Report by Product (Natural, Organic), Application (B2B, B2C), Region (North America, Europe), and Segment Forecasts, 2024-2030

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    Report

  • 80 Pages
  • January 2024
  • Region: Global
  • Grand View Research
  • ID: 5853824
Description Jump to:
The global carob powder market size was estimated to reach USD 75.10 million in 2030 and is anticipated to expand at a CAGR of 4% from 2024 to 2030. Growing demand for healthier food options as a result of rising health and wellness awareness. As carob powder is naturally sweet, low in fat, and free of caffeine, it is frequently seen as a healthier alternative to cocoa powder. Additionally, it is fiber-rich and gluten-free. Carob powder is also used in the bakery, confectionery, and pet food industries because of its naturally sweet flavor and high dietary fiber content. Such factors are driving the global market.

The natural segment dominated the market by holding the major share in 2023. The widespread use, popularity, and accessibility of natural carob powder, specifically used as a key ingredient in chocolate. Furthermore, natural carob powder is inexpensive and accessible, which is a key component driving the industry. Additionally, the preference of consumers for plant-based or vegan food ingredients has boosted the demand for carob powder. As a natural substitute for cocoa powder, carob powder is made from the carob tree. Such factors are driving the growth of the segment.

The B2B segment held the larger market size in 2023. The rising use of carob powder in confectionery and pastry goods as well as sauces, spreads, drinks, and other products is contributing to the growth of the segment. The development of premium artisanal products and nutritious baked goods has increased spending among industry participants over the past several years, leading to a rise in the worldwide bakery market. Therefore, it is anticipated that carob powder will be useful as a functional component in the creation of these baked items.

Europe accounted for a significant share of the market in 2023. One of the world's biggest consumers of baked goods and chocolate is Europe. Additionally, customers are gravitating more and more towards plant-based or plant-derived products owing to the increasing vegan population. Eventually, this will increase the demand for carob powder in Europe. Moreover, With the growing popularity of vegan and plant-based diets in Europe, carob powder has gained attention as a suitable ingredient.

Carob Powder Market Report Highlights

  • Asia-Pacific is expected to grow with the fastest CAGR over the forecast period from 2024 to 2030. The rising prevalence of diabetes in nations like India and China is predicted to change consumer preferences towards sugar-free options, which would boost the appeal of carob powder.
  • The organic segment is estimated to grow with a higher CAGR over the forecast period. The demand for organic goods, including carob powder, has increased as consumers’ awareness of health and wellness has increased thus driving the demand for organic carob powder.
  • The B2C segment is anticipated to grow with a faster CAGR over the forecast period. The increasing trend of at-home baking among consumers to gain maximum nutritional benefits is resulting in increased use of carob powder thus driving the market growth.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Application Outlook
2.4. Regional Outlook
Chapter 3. Carob Powder Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Sales/Retail Channel Analysis
3.2.2. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.4. Business Environment Analysis
3.4.1. Industry Analysis - Porter’s
3.4.1.1. Supplier Power
3.4.1.2. Buyer Power
3.4.1.3. Substitution Threat
3.4.1.4. Threat from New Entrant
3.4.1.5. Competitive Rivalry
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Carob Powder Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2023 & 2030
5.2. Natural
5.2.1. Natural carob powder market estimates and forecast, 2018-2030 (USD Thousand)
5.3. Organic
5.3.1. Organic carob powder market estimates and forecast, 2018-2030 (USD Thousand)
Chapter 6. Carob Powder Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2023 & 2030
6.2. B2B
6.2.1. B2B market estimates and forecast, 2018-2030 (USD Thousand)
6.2.2. Bakery
6.2.2.1. Carob powder market estimates and forecast for bakery, 2018-2030 (USD Thousand)
6.2.3. Confectionary
6.2.3.1. Carob powder market estimates and forecast for confectionary, 2018-2030 (USD Thousand)
6.2.4. Others
6.2.4.1. Carob powder market estimates and forecast for other application, 2018-2030 (USD Thousand)
6.3. B2C
6.3.1. B2C market estimates and forecast, 2018-2030 (USD Thousand)
Chapter 7. Carob Powder Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2023 & 2030
7.2. Regional Movement Analysis & Market Share, 2023 & 2030
7.3. North America
7.3.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.3.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.3.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.3.4. U.S.
7.3.4.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.3.4.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.3.4.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.3.5. Canada
7.3.5.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.3.5.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.3.5.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.3.6. Mexico
7.3.6.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.3.6.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.3.6.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.4. Europe
7.4.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.4.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.4.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.4.4. U.K.
7.4.4.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.4.4.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.4.4.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.4.5. Germany
7.4.5.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.4.5.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.4.5.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.4.6. France
7.4.6.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.4.6.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.4.6.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.4.7. Italy
7.4.7.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.4.7.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.4.7.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.4.8. Spain
7.4.8.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.4.8.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.4.8.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.5. Asia-Pacific
7.5.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.5.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.5.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.5.4. China
7.5.4.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.5.4.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.5.4.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.5.5. India
7.5.5.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.5.5.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.5.5.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.5.6. Japan
7.5.6.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.5.6.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.5.6.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.5.7. South Korea
7.5.7.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.5.7.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.5.7.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.5.8. Australia & New Zealand
7.5.8.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.5.8.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.5.8.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.6. Central & South America
7.6.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.6.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.6.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.6.4. Brazil
7.6.4.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.6.4.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.6.4.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.7. Middle East & Africa
7.7.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.7.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.7.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
7.7.4. South Africa
7.7.4.1. Market estimates and forecast, 2018-2030 (USD Thousand)
7.7.4.2. Market estimates and forecast, by product, 2018-2030 (USD Thousand)
7.7.4.3. Market estimates and forecast, by application, 2018-2030 (USD Thousand)
Chapter 8. Competitive Landscape
8.1. Recent developments & impact analysis, by key market participants
8.2. Company Categorization
8.3. Participant’s Overview
8.4. Financial Performance
8.5. Product Benchmarking
8.6. Company Market Share Analysis, 2023 (%)
8.7. Company Heat Map Analysis
8.8. Strategy Mapping
8.9. List of key companies analyzed in this section include:
8.9.1. THE AUSTRALIAN CAROB CO.
8.9.2. The Carob Kitchen
8.9.3. Frontier Co-op.
8.9.4. Chatfield’s
8.9.5. OliveNation
8.9.6. NOW Foods
8.9.7. Ingredients UK
8.9.8. Jedwards International, Inc.
8.9.9. Eurl Ouasdi International
8.9.10. Healthworks
List of Tables
1. Carob Powder market- Driving factor market analysis
2. Carob Powder market- Restraint factor market analysis
3. Carob Powder market estimates & forecast, by product (USD Thousand)
4. Carob Powder market estimates & forecast, by application (USD Thousand)
5. U.S. macro-economic outlay
6. Canada macro-economic outlay
7. Mexico macro-economic outlay
8. U.K. macro-economic outlay
9. Germany macro-economic outlay
10. France macro-economic outlay
11. Italy macro-economic outlay
12. Spain macro-economic outlay
13. China macro-economic outlay
14. Japan macro-economic outlay
15. India macro-economic outlay
16. Australia macro-economic outlay
17. South Korea macro-economic outlay
18. Brazil macro-economic outlay
19. South Africa macro-economic outlay
20. Recent developments & impact analysis, by key market participants
21. Company market share, 2023 (Value % Share)
22. Company heat map analysis
List of Figures
1. Information procurement
2. Primary research pattern
3. Primary research approaches
4. Primary research process
5. Market Snapshot
6. Segment Snapshot
7. Segment Snapshot
8. Competitive Landscape Snapshot
9. Carob Powder market size, 2018 to 2030 (USD Thousand)
10. Carob Powder market: Value chain analysis
11. Carob Powder market: Profit-margin analysis
12. Carob Powder market: Dynamics
13. Carob Powder market: Porter’s five forces analysis
14. Factors affecting buying decisions for carob powder
15. Carob Powder market, by product: Key takeaways
16. Carob Powder market, by product: Market share, 2023 & 2030
17. market estimates and forecast, 2018-2030 (USD Thousand)
18. Natural carob powder market estimates and forecast, 2018-2030 (USD Thousand)
19. Organic carob powder market estimates and forecast, 2018-2030 (USD Thousand)
20. Carob Powder market, by application: Key takeaways
21. Carob Powder market, by application: Market share, 2023 & 2030
22. Carob powder market estimates & forecast for B2B, 2018-2030 (USD Thousand)
23. Carob powder market estimates & forecast for bakery application, 2018-2030 (USD Thousand)
24. Carob powder market estimates & forecast for confectionery, 2018-2030 (USD Thousand)
25. Carob powder market estimates & forecast for other application, 2018-2030 (USD Thousand)
26. Carob powder market estimates & forecast for B2C, 2018-2030 (USD Thousand)
27. Carob Powder market revenue, by region, 2023 & 2030 (USD Thousand)
28. Regional marketplace: Key takeaways
29. Regional marketplace: Key takeaways
30. North America Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
31. U.S. Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
32. Canada Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
33. Mexico Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
34. Europe Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
35. U.K. Carob Powder market estimates & forecasts, 2018-2030 (USD Thousand)
36. Germany Carob Powder market estimates & forecasts, 2018-2030 (USD Thousand)
37. France Carob Powder market estimates & forecasts, 2018-2030 (USD Thousand)
38. Italy Carob Powder market estimates & forecasts, 2018-2030 (USD Thousand)
39. Spain Carob Powder market estimates & forecasts, 2018-2030 (USD Thousand)
40. Asia-Pacific Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
41. China Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
42. Japan Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
43. India Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
44. Australia Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
45. South Korea Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
46. Central & South America Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
47. Brazil Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
48. Middle East & Africa Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
49. South Africa Carob Powder market estimates & forecast, 2018-2030 (USD Thousand)
50. Key company categorization
51. Company market share analysis, 2023

Companies Mentioned

  • THE AUSTRALIAN CAROB CO.
  • The Carob Kitchen
  • Frontier Co-op.
  • Chatfield’s
  • OliveNation
  • NOW Foods
  • Ingredients UK
  • Jedwards International, Inc.
  • Eurl Ouasdi International
  • Healthworks

Methodology

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Table Information

Report AttributeDetails
No. of Pages80
PublishedJanuary 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 56.57 Million
Forecasted Market Value ( USD ) by 2030 $ 75.1 Million
Compound Annual Growth Rate4.0%
Regions CoveredGlobal
No. of Companies Mentioned10

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About the Carob Powder Market

Carob powder is a food ingredient made from the dried and ground pods of the carob tree. It is naturally sweet and contains no caffeine, making it a popular alternative to cocoa powder. Carob powder is used in a variety of food products, including baked goods, cereals, and confectionery. It is also used as a natural sweetener and flavor enhancer in many health foods. Carob powder is high in dietary fiber, calcium, and other essential minerals, making it a nutritious addition to any diet. Carob powder is widely available in health food stores, supermarkets, and online retailers. It is also used as an ingredient in many commercial food products. Companies that produce carob powder include Navitas Organics, Bob's Red Mill, and Sunfood Superfoods. Show Less Read more

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