Carob Market Size was valued at USD 0.5 Billion in 2022. The carob market industry is projected to grow from USD 0.5227 Billion in 2024 to USD 0.7462 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.55% during the forecast period (2024 - 2032). The caffeine-free characteristic of carob, which makes it appropriate for customers who cannot handle caffeine, is one of the important carob market drivers fueling expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to its ability to gel and bind water, stabilize products, reduce syneresis, improve freeze-thaw consistency, and even strengthen the gel characteristics of some gums, carob gum has several uses in various sectors. Carob gum is used in stable water jellies by combining it with other gums to provide the desired consistency and stability. Additionally, carob gum is frequently combined with xanthan as a gelling agent in various sweets and mousses. Along with providing an excellent, smooth meltdown and heat shock tolerance, it is also employed as a stabilizer in ice cream, along with carrageenan and guar gum, to prevent the release of sugar and ice crystals. In addition, carob gum is frequently used in kebabs, hot sauce, mayonnaise, and broths as a thickening and stabilizer. The multiple uses of carob gum in the food and beverage industry propel the carob market CAGR expansion.
Furthermore, the harmful effects of chemicals on human health are becoming more widely known among consumers. They are now more health conscious due to this growing understanding and favor items containing little or no chemicals. The rising prevalence of lifestyle diseases including diabetes, osteoporosis, obesity, and cardiovascular disease is one reason consumers emphasize their health and wellness more. This has altered consumers' food preferences and views on natural ingredients. A movement to products grown and processed organically has occurred due to consumer concern over the effects of chemicals on the environment and health. As a result, the market demand for carob products is being driven by consumers' growing preference for natural and clean-label products. Thus, driving the carob market revenue.
The carob market segmentation, based on application includes food & beverages, animal feed and personal care. The food & beverages segment dominated the market. The food and beverage business is expected to grow rapidly and take a commanding position in the food processing industry. This is due to increased demand for food and drink products brought on by a busy lifestyle and a preference for fresh, ready-to-eat convenience foods with excellent nutritional content.
The carob market segmentation, based on form, includes powder and gum. The gum category generated the most income. Due to its therapeutic advantages, including its ability to lower cholesterol, improve blood sugar, treat gastro reflux illness, treat diarrhea, and help prevent colon cancer, carob gum has gained significant popularity in the pharmaceutical business. The market for carob gum is primarily driven by the baking, confectionary, and nutrition and supplement industries because carob gum is a great substitute for cocoa gum.
The carob market segmentation, based on category includes conventional and organic. The organic segment dominated the market due to consumers' growing desire for natural and clean-label products. Due to the increased demand for organic and natural food items, this demand is particularly strong in North America and Europe.
Figure 1: Carob Market, by Category, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American carob market area will dominate this market. The WHO and health influencers are raising awareness of the negative effects of excessive sugar intake, influencing consumers' preference for healthier meals. Thanks to this movement, people are switching to healthier sugar replacements without sacrificing flavor. In 2021, more than 141 million Americans will be utilizing sugar replacements as a result of this. As a natural sugar substitute and a substitute for cocoa, carob extract and powder are likely to see an increase in popularity in the United States.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CAROB MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe carob market accounts for the second-largest market share. The market for carob in Europe is primarily driven by the region's strong consumption of dairy and bread goods. To prevent health problems, consumers in this region look for products with natural additives and chemicals. The carob market has been expanding as a result of increased usage of carob in pet food and other animal feed in Europe. Further, the German carob market held the largest market share, and the UK carob market was the fastest growing market in the European region
The Asia-Pacific Carob Market is expected to grow at the fastest CAGR from 2023 to 2032. Major market participants are expanding their efforts and launching new products in an effort to take advantage of the potential growth in carob sales. Due to its high nutritional content, carob powder is becoming increasingly popular in China, which is the main driver boosting demand for carob. The manufacturing of carob gum products is anticipated to face competition as the export of carob to South East Asian nations rises dramatically. During the forecast period, this will accelerate the expansion of the carob market in the area. Moreover, China’s carob market held the largest market share, and the Indian carob market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the carob market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, carob industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the carob industry to benefit clients and increase the market sector. In recent years, the carob industry has offered some of the most significant advantages to market. Major players in the carob market attempting to increase market demand by investing in research and development operations include Australian Carobs pty ltd in Australia, Tate, and Lyke of United Kingdom, DuPont of United States, Starvos Papis Food ltd of Cyprus, Altrafine Gums of India, and Pedro Perez of Spain.
Tate & Lyle PLC, a worldwide company with its headquarters in Britain, sells food and beverage ingredients to industrial markets. It began as a business that processed sugar but started diversifying in the 1970s. It sold its sugar business in 2010. It focuses in transforming raw materials like corn and tapioca into components that provide food and beverages flavor, texture, and nutrients.
A company called Altrafine Gums is engaged in producing and exporting premium natural gum goods like guar gum powder, cassia tora powder, fenugreek gum, sesbania gum powder, and others. The business has established a reputation as an industry leader in manufacturing and selling high-quality gums. It has been around for more than 39 years and has a tonne of experience manufacturing the things that the company does. The company's success has been made possible by investing much in research and developing extraction and processing techniques that produce high-quality products at a reasonable cost.
Carob Industry Developments
November 2021: CarobWay, an Israeli agritech business, partnered with Israeli farms for research and development to create a new line of carob products.
November 2020: To promote the use of organic carob gum in creams and sauces, CAROB S. A. opened its first online store and conducted a demonstration event at Miquel Calent's Can Calent restaurant.
October 2020: The Carob Kitchen has launched Australia's first premium Carob Milk Bar collection, made with sustainably cultivated Australian Carob and real Cocoa Butter. This variety contains no added sugar and is theobromine-free, caffeine-free, and gluten-free. It is also environmentally friendly and free of Palm Kernel Oil.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.5 Billion |
| Market Size 2024 | USD 0.5227 Billion |
| Market Size 2032 | USD 0.7462 Billion |
| Compound Annual Growth Rate (CAGR) | 4.55% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Form, Category and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Australian Carobs pty ltd in Australia, Tate, and Lyke of United Kingdom, DuPont of United States, Starvos Papis Food ltd of Cyprus, Altrafine Gums of India, and Pedro Perez of Spain |
| Key Market Opportunities | Growing health awareness in consumers |
| Key Market Dynamics | Increased health benefits of carob |
Carob Market Highlights:
Frequently Asked Questions (FAQ) :
The carob market size was valued at USD 0.5 Billion in 2022.
The market is projected to grow at a CAGR of 4.55% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Australian Carobs pty ltd in Australia, Tate, and Lyke of United Kingdom, DuPont of United States, Starvos Papis Food ltd of Cyprus, Altrafine Gums of India, and Pedro Perez of Spain.
The food & beverage category dominated the market in 2022.
The gum had the largest share in the market.
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