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Carob Powder Market Size, Share & Trends Analysis Report By Application (B2B, B2C), By Product (Natural, Organic), By Region (Europe, Asia Pacific, North America)), And Segment Forecasts, 2023 - 2030

July 2023 | 80 pages | ID: CA302BE0E3E0EN
Grand View Research, Inc.

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Carob Powder Market Growth & Trends

The global carob powder market size is expected to reach USD 75,101.5 thousand in 2030 and is anticipated to register a CAGR of 4.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. There is a growing demand for healthier food options owing to growing health and wellness awareness. As carob powder is naturally sweet, low in fat, and free of caffeine, it is considered a healthier alternative to cocoa powder. In addition, it is fiber-rich and gluten-free. It is used in the bakery, confectionery, and pet food industries due to its naturally sweet flavor and high dietary fiber content. These factors are driving the global market growth. The natural product segment held the major share of the market in 2022. The widespread use, popularity, and accessibility of natural carob powder, specifically used as a key ingredient in chocolate, are the factors driving market growth.

Furthermore, natural carob powder is inexpensive and easily available, which also contributes to the industry's growth. In addition, the preference of consumers for plant-based or vegan food ingredients has boosted product demand. It is made from the carob tree as a natural substitute for cocoa powder. These factors are driving the growth of the segment. The B2B segment held the largest revenue share in 2022. The rising product usage in confectionery and pastry goods, as well as in 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 the spending among industry participants over the past several years, leading to a rise in the worldwide bakery market.

Therefore, it is anticipated that the product will be useful as a functional component in the creation of these baked items. In terms of region, Europe held a significant share of the market in 2022. Europe is among the world's biggest consumers of baked goods and chocolates. In addition, customers are gravitating more and more toward plant-based or plant-derived products owing to the increasing vegan population. This, in turn, is boosting the demand for carob powder in Europe. Moreover, with the growing popularity of vegan and plant-based diets in Europe, the product has gained attention as a suitable ingredient. Key players adopt various strategies, such as partnerships, M&A, and global expansions, to gain higher industry share.

Carob Powder Market Report Highlights
  • Asia Pacific is expected to grow at the fastest CAGR over the forecast period. The rising prevalence of diabetes in nations like India and China is predicted to change consumer preferences toward sugar-free options, which would boost the product appeal
  • The organic product segment is estimated to grow at the fastest CAGR over the forecast period. The demand for organic goods has increased with the rising awareness about health and wellness, thus driving the demand for organic carob powder
  • The B2C segment is anticipated to grow at the fastest CAGR over the forecast period. The increasing trend of at-home baking among consumers to gain maximum nutritional benefits is resulting in increased product usage. This, in turn, is driving the segment growth
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. GVR’s 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. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations

CHAPTER 5. CAROB POWDER MARKET: PRODUCT ESTIMATES & TREND ANALYSIS

5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Natural
  5.2.1. Natural carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
5.3. Organic
  5.3.1. Organic carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)

CHAPTER 6. CAROB POWDER MARKET: APPLICATION ESTIMATES & TREND ANALYSIS

6.1. Application Movement Analysis & Market Share, 2022 & 2030
6.2. B2B
  6.2.1. B2B market estimates and forecast, 2017 - 2030 (USD Thousand)
  6.2.2. Bakery
    6.2.2.1. Carob powder market estimates and forecast for bakery, 2017 - 2030 (USD Thousand)
  6.2.3. Confectionary
    6.2.3.1. Carob powder market estimates and forecast for confectionary, 2017 - 2030 (USD Thousand)
  6.2.4. Others
    6.2.4.1. Carob powder market estimates and forecast for other application, 2017 - 2030 (USD Thousand)
6.3. B2C
  6.3.1. B2C market estimates and forecast, 2017 - 2030 (USD Thousand)

CHAPTER 7. CAROB POWDER MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

7.1. Regional Movement Analysis & Market Share, 2022 & 2030
7.2. Regional Movement Analysis & Market Share, 2022 & 2030
7.3. North America
  7.3.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
  7.3.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
  7.3.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.3.4. U.S.
    7.3.4.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.3.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.3.4.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.3.5. Canada
    7.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.3.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.3.5.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.3.6. Mexico
    7.3.6.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.3.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.3.6.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
7.4. Europe
  7.4.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
  7.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
  7.4.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.4.4. UK
    7.4.4.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.4.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.4.4.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.4.5. Germany
    7.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.4.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.4.5.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.4.6. France
    7.4.6.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.4.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.4.6.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.4.7. Italy
    7.4.7.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.4.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.4.7.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.4.8. Spain
    7.4.8.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.4.8.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.4.8.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
7.5. Asia Pacific
  7.5.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
  7.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
  7.5.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.5.4. China
    7.5.4.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.5.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.5.4.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.5.5. India
    7.5.5.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.5.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.5.5.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.5.6. Japan
    7.5.6.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.5.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.5.6.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.5.7. South Korea
    7.5.7.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.5.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.5.7.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.5.8. Australia & New Zealand
    7.5.8.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.5.8.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.5.8.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
7.6. Central & South America
  7.6.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
  7.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
  7.6.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.6.4. Brazil
    7.6.4.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.6.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.6.4.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
7.7. Middle East & Africa
  7.7.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
  7.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
  7.7.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)
  7.7.4. South Africa
    7.7.4.1. Market estimates and forecast, 2017 - 2030 (USD Thousand)
    7.7.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Thousand)
    7.7.4.3. Market estimates and forecast, by application, 2017 - 2030 (USD Thousand)

CHAPTER 8. COMPETITIVE ANALYSIS

8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
  8.3.1. Key company market share analysis, 2022

CHAPTER 9. COMPANY PROFILES

9.1. Recent developments & impact analysis, by key market participants
9.2. Company Categorization
9.3. Participant’s Overview
9.4. Financial Performance
9.5. Product Benchmarking
9.6. Company Market Share Analysis, 2022 (%)
9.7. Company Heat Map Analysis
9.8. Strategy Mapping
9.9. List of key companies analyzed in this section include:
  9.9.1. THE AUSTRALIAN CAROB CO.
  9.9.2. The Carob Kitchen
  9.9.3. Frontier Co-op.
  9.9.4. Chatfield’s
  9.9.5. OliveNation
  9.9.6. NOW Foods
  9.9.7. Ingredients UK
  9.9.8. Jedwards International, Inc.
  9.9.9. Eurl Ouasdi International
  9.9.10. Healthworks
LIST OF TABLES

1. Carob Powder - Key market driver analysis
2. Carob Powder - Key market restraint analysis
3. Global natural carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
4. Global organic carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
5. Global carob powder market estimates and forecast for B2B application, 2017 - 2030 (USD Thousand)
6. Global carob powder market estimates and forecast for bakery application, 2017 - 2030 (USD Thousand)
7. Global carob powder market estimates and forecast for confectionary application, 2017 - 2030 (USD Thousand)
8. Global carob powder market estimates and forecast for other application, 2017 - 2030 (USD Thousand)
9. Global carob powder market estimates and forecast for B2C application, 2017 - 2030 (USD Thousand)
10. North America carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
11. North America carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
12. North America carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
13. U.S. carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
14. U.S. carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
15. U.S. carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
16. Canada carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
17. Canada carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
18. Canada carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
19. Mexico carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
20. Mexico carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
21. 35. Mexico carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
22. Europe carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
23. Europe carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
24. Europe carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
25. Germany carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
26. Germany carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
27. Germany carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
28. UK carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
29. UK carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
30. UK carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
31. France carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
32. France carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
33. France carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
34. Italy carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
35. Italy carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
36. Italy carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
37. Spain carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
38. Spain carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
39. Spain carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
40. Asia Pacific carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
41. Asia Pacific carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
42. Asia Pacific carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
43. China carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
44. China Carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
45. China Carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
46. India carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
47. India carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
48. India carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
49. Japan carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
50. Japan carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
51. Japan carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
52. Australia & New Zealand carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
53. Australia & New Zealand carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
54. Australia & New Zealand carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
55. South Korea carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
56. South Korea carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
57. South Korea carob powder market estimates and forecast by application, 2017 - 2030
58. Central & South America carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
59. Central & South America carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
60. Central & South America carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
61. Brazil carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
62. Brazil carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
63. Brazil carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
64. Middle East & Africa carob powder market estimates and forecast, 2017- 2030 (USD Thousand)
65. Middle East & Africa carob powder market estimates and forecast by product, 2017 - 2030 (USD Thousand)
66. Middle East & Africa carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
67. South Africa carob powder market estimates and forecast, 2017 - 2030 (USD Thousand)
68. South Africa carob powder market estimates and forecast by Product, 2017 - 2030 (USD Thousand)
69. South Africa carob powder market estimates and forecast by application, 2017 - 2030 (USD Thousand)
70. Vendor landscape
LIST OF FIGURES

1. Carob powder market snapshot
2. Carob powder market segmentation & scope
3. Carob powder market penetration & growth prospect mapping
4. Carob powder market value chain analysis
5. Carob powder market dynamics
6. Carob powder market Porter's analysis
7. Carob powder market: Product share (%) analysis, 2022 & 2030
8. Carob powder market: Application share (%) analysis, 2022 & 2030
9. Carob powder market: Regional share (%) analysis, 2022 & 2030
10. Key carob powder company market share analysis, 2022


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