Carob Powder Market Size Is Projected To Reach USD 69.8 Million By 2027: Grand View Research Inc.

Posted on
by

Carob Powder Market Size Is Projected To Reach USD 69.8 Million By 2027: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Shifting consumers’ inclination towards healthier alternatives to cocoa powder is expected to expand the market scope over the next few years.

Carob Powder Market Growth & Trends

The global carob powder market size is expected to reach USD 69.8 million by 2027, expanding at a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. Growing popularity of carob powder as a healthier alternative to cocoa powder in the bakery and confectionery sector is expected to remain a key factor driving the industry. Furthermore, growing demand for gluten-free diet in developed economies, including U.S., Germany, France, and U.K., is projected to promote the spending on carob powder as a natural ingredient in the commercial and household sectors in the near future.

Over the past few years, the buyers have been shifting their focus towards the incorporation of healthier ingredients, including carob powder, which contains fiber, calcium, protein, and no saturated fats. These features are expected to promote the utility of carob powder as an ingredient for manufacturing various confectionery products.

The B2C (Business-to-Consumer) segment is expected to expand at the fastest CAGR of 6.7% from 2020 to 2027. As consumers worldwide are becoming more interested in healthier food options, they are practicing baking at home to avail the actual nutrition benefits. Moreover, increasing demand for artisanal bakery and confectionery products is expected to contribute to the segment growth in the coming years.

Asia Pacific is expected to expand at the fastest CAGR of 6.1% from 2020 to 2027. Millennials have been increasingly adopting a healthy lifestyle in the countries, including China, Japan, and South Korea, owing to which they are shifting towards healthier food products. Moreover, shifting consumer preferences for the consumption of sugar-free alternatives owing to growing prevalence of diabetes in countries, such as India and China, are expected to increase popularity of carob powder in the upcoming years.

U.S. carob powder market size, by product, 2016 - 2027 (USD Million)

Request a sample Copy of the Carob Powder Market  Research Report @ https://www.grandviewresearch.com/industry-analysis/carob-powder-market/request/rs1

Carob Powder Market Report Highlights

  • Organic products are expected to expand at the fastest CAGR of 5.5% from 2020 to 2027. This growth is attributed to increased importance of organic-labelled products in the food and beverage industry at the global level

  • The B2C application segment is expected to register the highest CAGR of 6.7% from 2020 to 2027. Growing consumer awareness regarding the health benefits of carob flour, coupled with high visibility of these products, is expected to contribute to the segment growth

  • Europe held the largest share of 40.2% in 2019. Strong presence of health-conscious consumers in key countries, including Germany, U.K., and France, is expected to prompt the consumption of carob powder as an alternative intermediate for manufacturing confectionery products at the domestic level

  • Key market players include THE AUSTRALIAN CAROB CO.; The Carob Kitchen; Frontier Co-op.; Oak Haven Inc.; Barry Farm Foods; NOW Foods; Ingredients UK Ltd; Jedwards International, Inc.; OUASDI INTERNATIONAL; and Alpine Herb Company Inc.

Global carob powder market share, by application, 2019 (%)

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/450278/ibb

Carob Powder Market Segmentation

Grand View Research has segmented the global carob powder market on the basis of product, application, and region:

Carob Powder Product Outlook (Revenue, USD’000, 2016 – 2027)

  • Natural

  • Organic

Carob Powder Application Outlook (Revenue, USD’000, 2016 – 2027)

  • B2B

    • Bakery

    • Confectionery

    • Others

  • B2C

Carob Powder Regional Outlook (Revenue, USD’000, 2016 – 2027)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

Browse Related Report:

Coconut Milk Powder Market : https://www.grandviewresearch.com/industry-analysis/coconut-milk-powder-market

Kefir Market : https://www.grandviewresearch.com/industry-analysis/kefir-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/carob-powder-market