Carob Market 2021 Re

iCrowdNewswire   Jan 12, 2021  11:50 AM ET

Carob Market Highlights

Carob Market is harvested from Ceratonia siliqua or the carob tree which belongs to the legume household. Carob pods are wealthy in calcium, sodium, potassium, magnesium, fiber, and protein, leading to its growing software within the meals business. Carob is a pure sweetener and is used as a more healthy substitute for chocolate because it accommodates low quantities of fats and sugar and doesn’t include caffeine.          

The worldwide Carob Market has been segmented primarily based on class, kind, software, and area.

Based mostly on kind, the worldwide Carob Market has been divided into powder, gum, and others. The gum phase is predicted to dominate the worldwide carob market throughout the evaluation interval owing to the rising software of carob gum within the meals business as an alternative choice to guar gum. Nevertheless, the powder phase is predicted to exhibit the best CAGR throughout the forecast interval with rising software within the bakery and prescription drugs industries.

The worldwide marketplace for carob has additionally been categorized, by software, as bakery and confectionery, dairy merchandise, snacks, and others. The bakery and confectionery phase is predicted to dominate the market. Nevertheless, the snacks phase is predicted to register the best CAGR throughout the forecast interval. Rising demand for wholesome snacks is driving the expansion of the phase.

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Key Gamers

Among the key gamers within the international Carob Market are Australian Carobs Pty Ltd. (Australia), Tate & Lyle (UK), DuPont (US), Carob S.A. (Spain), Stavros Parpis Meals Ltd (Cyprus), Altrafine Gums (India), Pedro Perez (Spain), Savvy Carob Co Ltd (UK), AEP Colloids (US), and TIC Gums, Inc. (US)

Regional Evaluation

Based mostly on area, the worldwide Carob Market has been segmented into North America, Europe, Asia-Pacific, and RoW. Europe is predicted to dominate the worldwide carob market with the presence of key cultivation areas in Italy, Spain, and Portugal. North America is predicted to carry a significant share of the worldwide carob market with the US being the key contributor to the expansion of the market. The rising demand for carob in breakfast cereal is contributing to the expansion of the regional market. Asia-Pacific additionally held a major share of the worldwide carob market in 2018 and the regional market is predicted to register the best CAGR throughout the forecast interval. In the remainder of the world, Africa is projected to carry the bulk share of the carob market.

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