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Carob Market According to a new report published by Allied Market Research, titled, “Carob Market by Type, Application and Distribution channel: Global Opportunity Analysis and Industry Forecast, 20212030,” The carob market size is expected to reach $384,882.3 thousand by 2030, registering a CAGR of 6.2% from 2021 to 2030. Carob powder is used as a natural sweetener in baked goods owing to its sweet, no fat content and has a unique taste. Furthermore, carob is low in sodium, it contains calcium, but no oxalates, high in fiber, a good source of antioxidants, caffeine-free making carob popular in the pharmaceuticals industry. The carob powder is used as a sprinkle on yogurt or ice cream, as carob drink, creamy carob pudding, and candy bars among others. Increasing use of organic and plant-based food additives, ingredients, flavors and color in food processing industries is expected to generate demand for carob. Increasing use of healthy ingredients including carob in nutrition and supplements products further accelerates the growth of the carob market
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Carob Market Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/12749 Frontrunners in the industry
Altrafine Gums
Pedro Perez
Savvy Carob Co. Ltd.
DuPont
Carob S.A.
Stavros Parpis Foods Ltd
AEP Colloids
TIC Gums Inc
Australian Carobs Pty Ltd
Tate & Lyle
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Carob Market Market Segment: On the basis of product type, the gum segment was the highest contributor to the carob market and is expected grow at a CAGR of 5.5% during the forecast period. Carob gum has been gaining major traction in the pharmaceutical industry owing to its medicinal benefits such as lower cholesterol level, improved blood sugar, beneficial for the treatment of gastro reflux disease, diarrhea and help to reduce colon cancer. According to the carob market trends, on the basis of application, the bakery and confectionery segment has gained major share in global carob market and is estimated to reach $72,756.1 thousand by 2030, at a CAGR of 5.5%. The bakery & confectionery industry possesses high growth potential, and is anticipated to garner a remarkable position in the food processing sector. On the basis of distribution channel, the retail stores segment was the highest contributor to the market, with $105,002.1 thousand in 2020, and is estimated to reach $190,698.7 thousand by 2030, at a CAGR of 5.5% during the forecast period.
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Carob Market Region wise, Europe garnered a major share in product market in 2020, and is expected to maintain its dominance throughout the carob market forecast period. The carob products market in Europe is primarily driven by high consumption of bakery & confectioneries and dairy products. Purchase this Report (Price 6,169 USD for single user license): https://www.alliedmarketresearch.com/checkout-final/7065361373c7c3ef57ef777e817e43b6 Key findings of the study
The carob market was valued at $198,363.8 thousand in 2020, and is estimated to reach $384,882.3 thousand by 2030, registering a CAGR of 6.2% from 2021 to 2030.
In 2020, depending on product type, the gum segment acquired $111,419.6 thousand, garnering 56.2% of the global carob market share .
On the basis of application, the dairy products segment acquired $27,062.2 thousand, exhibiting 13.6% of the global market share.
Greece was the most prominent market in Europe in 2020, and is projected to reach $11,062.7 thousand by 2030, growing at a CAGR of 8.5% during the forecast period.
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Carob Market
Covid-19 scenario
The outbreak of Covid-19 led to the enforcement of lockdown in almost all the countries across the world. It caused significant hardship to several industrial verticals along with the Carob Market. There were huge disruptions in the supply chain as well.
Nevertheless, the government bodies are now coming up with relaxations on the existing regulations to help different sectors get back on their feet yet again.
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Carob Market About Allied Market Research: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Carob Market Contact Us: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1(855)550-5975 help@alliedmarketresearch.com Web: https://www.alliedmarketresearch.com Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
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