Carob Market Size, Share, and Analysis By Product Type (Powder, Gum, and Others), By Application (Food & Beverages, Dietary Supplements & Nutraceuticals, Pharmaceuticals, and Others), and Regional Forecast till 2032

Carob is a leguminous evergreen shrub. The carob extract is gaining traction as a natural sweetener and functional ingredient in a wide array of industries, including food and beverage, pharmaceuticals, cosmetics, and others. The demand is primarily driven by growing consumer preference for natural and plant-based ingredients. The carob is sweet in taste, low in fat, and high in vitamins, minerals, and fiber. Furthermore, carob powder can be used as a substitute for cocoa in cakes, tarts, candies and energy bars. Increasing bakery product manufacturing across the world is likely to impact the ingredients demand such as carob.

According to the American Bakers Association, the wholesale bakery industry provides nearly 800,000 jobs and contributes nearly USD 186 billion to the American economy. The bakery industry is expanding with a promising growth rate with emerging trends such as the infusion of natural ingredients, new flavor expansion, and convenience product trends. It is likely to drive the natural ingredients demand from the bakery industry.

Carob Market Driver

Increasing Awareness Regarding Health Benefits of Carob

The carob extract exhibits high fiber content and natural sweetness. Increasing awareness about the health benefits of carob is one of the major factors propelling the market growth. Moreover, the growing demand for clean-label and vegan-friendly products influences manufacturers to incorporate carob extract with food items and dietary supplements. Furthermore, processed food manufacturers focus on adopting natural alternatives to traditional sweeteners and additives to meet emerging “natural” and “free-from” trends in food products, further accelerating the market growth. Additionally, increasing technological advancements in extraction methods and product formulation promote the expansion of applications in the food & beverage and pharmaceutical industries.

Carob Market Restraint

Volatility in Raw Material Production May Hamper the Market Growth 

The primary challenges faced by the carob market are seasonal variability in carob production and disruptions in the supply chain. Market instability is attributed to fluctuations in agricultural yields and processing costs, which poses several challenges to maintaining consistent product supply. Additionally, the imposition of stringent regulations and certification standards for food and pharmaceutical-grade carob cause barriers to market entry and lead to operational compliance, affecting market penetration and expansion strategies.

Carob Market Opportunity

Increasing Product Application in Nutraceuticals and Functional Foods to Offer New Growth Opportunities

The carob market reflects promising growth opportunities driven by the expansion of applications in functional foods, nutraceuticals, natural cosmetics, and other potential growth segments. Manufacturers are increasingly integrating carob extract in product formulations, including dietary supplements, sugar substitutes, skincare formulations, and others. Furthermore, increasing industrial investment in research and development activities is one of the major factors creating lucrative growth opportunities. 

For instance, in June 2024, the leading research service provider, TKI Agri & Food, funded the CAMPIONE project to advance the chocolate industry by using carob pods to create a healthier chocolate substitute. This initiative is a collaboration between the Netherlands and Lebanon and aims to harness the potential applications of carob pods to serve the growing demand from the chocolate industry and carob farming.

Key Insights

The report covers the following key insights:

• Overview of the Parent Market


• Supply Chain Analysis


• Regulatory Analysis


• Industry SWOT Analysis


• Key Industry Developments


• Qualitative Analysis Related to COVID-19

Segmentation

Analysis by Product Type

Based on product type, the market is segmented into powder, gum, and others.

The powder segment is expected to hold the largest market share. Carob powder is used in various food and beverage products, including baked goods, confectioneries, and hot drinks. The versatility of carob powder and its natural sweetness make it an appropriate ingredient for manufacturing food products that incorporate nutritious and natural ingredients. The carob powder consists of insoluble fiber, which effectively promotes digestive health and prevents constipation.

The gum segment is anticipated to show significant growth over the forthcoming years. Carob gum is utilized as a stabilizer and thickener to provide ice cream with a creamy mouthfeel. Increasing ice cream production and ice cream companies' focus and R&D to develop new products using natural ingredients is likely to drive the carob gum demand. 

Analysis by Application

Based on application, the market is classified as food & beverages, dietary supplements & nutraceuticals, pharmaceuticals, and others.

The food & beverages segment is expected to hold the largest share of the market. Carob is prominently used as a healthier alternative to cocoa powder in the food & beverage industry. The carob extract is caffeine-free, which makes it a suitable option for consumers opting to reduce their caffeine intake without evaluating the chocolatey flavor. Furthermore, it is also used as a thickening agent in multiple food applications such as soup, sauces, and condiments.

The pharmaceuticals segment is anticipated to show significant growth during the forecast period. In pharmaceuticals, the carob is employed as a natural excipient, formulated in medication that requires long-term stabilization, distended solid formulations, and enhanced drug absorption.

Regional Analysis

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Based on region, the market has been studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Europe is expected to hold the largest market share. The regional market growth is attributed to the increasing consumer preference for natural and organic food products. Growing consumers' preference for sugar-free alternatives due to the prevalence of lifestyle diseases such as obesity, diabetes, and others is expected to increase the market growth. Moreover, the presence of individuals consistently catering to the versatile applications of carob in bakery products, healthy food items, chocolate substitutes, and others is projected to drive the industry expansion.

Asia Pacific is anticipated to show significant growth during the forecast period due to the rising awareness regarding health and nutrition in the region. The demand for ice cream and frozen dessert in Asian countries such as India, China, and Indonesia is rapidly rising. This will create an opportunity for the product as it is used as a cocoa substitute or natural thinking agent in ice cream. The growing popularity of food and beverage products with low fat and sugar content is further accelerating the regional market expansion.

Key Players Covered

The key manufacturers in the global carob market are expanding their businesses through new product developments. Some of the players are actively developing market strategies to gain a competitive advantage and expand their consumer base.

The report provides the profiles of the following key players:

• OliveNation (U.S.)


• NOW® Foods (U.S.)


• The Australian Carob Co. (Australia)


• Frontier Co-op. (Norway)


• The Carob Kitchen (Australia)


• PANOS Brands (New Jersey)


• CAROB S.A. (Spain)


• Carob Algeria (Algeria)


• Tate & Lyle (U.K.)


• EURODUNA Americas Inc. (Germany)

Key Industry Developments

• In October 2023, an Italy-based food tech startup, Foreverland announced the launch of its cocoa free chocolate brand Freecao, which is made from Italian carob. The new brand is said to have 80% less carbon emissions and requires 90% less water compared to cocoa.


• In January 2023, Azure Standard, the leading distributor of organic and non-GMO food products, acquired Missy J’s Carob & Sweet Treats, the manufacturer of carob products. The company aimed to enhance retailers’ access to carob products and expand its online marketing business through this strategic acquisition.