IMARC Group's report titled "Carob Powder Market Report by Product (Natural, Organic), Application (B2B, B2C), and Region 2024-2032". The global carob powder market size reached US$ 60.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 91.9 Million by 2032, exhibiting a growth rate (CAGR) of 4.68% during 2024-2032.

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Factors Affecting the Growth of the Carob Powder Industry:

• Rising Demand for Healthy and Natural Ingredients:

The growing demand for carob powder due to increasing consumer preferences for natural and healthier alternatives is offering a positive market outlook. Carob powder has a low-fat content, high fiber, and the absence of caffeine and theobromine, which makes it appealing to a wider consumer base. Its nutritional profile aligns with dietary preferences, emphasizing wholesome and minimally processed food items that are free from various chemicals. Apart from this, the rising focus on healthier consumption habits among individuals is bolstering the market growth. 

• Increasing Focus on Plant-Based Diet:

The rising focus on vegan and plant-based diets is catalyzing the demand for plant-derived alternatives like carob powder. Consumers are increasingly seeking alternatives to animal-derived products. In addition, carob emerges as an attractive option due to its plant-based origin and versatile applications in vegan recipes. Its use in dairy-free chocolates, desserts, and beverages caters to the needs of individuals adhering to plant-based lifestyles. Besides this, the increasing utilization of carob powder as an essential ingredient in the formulation of vegan-friendly food products, along with innovations in plant-based food sector, is supporting the market growth.

• Growing Awareness About Food Allergies and Intolerances:

The escalating demand for carob powder on account of the increasing awareness among individuals about food allergies and intolerances is propelling the market growth. The rising adoption of allergen-free ingredients like carob powder among individuals is impelling the market growth. Besides this, carob powder is a safer option for individuals with dietary restrictions, such as gluten and lactose intolerance. Furthermore, consumers are increasingly seeking allergen-friendly alternatives to maintain their health. Additionally, manufacturers are leveraging the allergen-free properties of carob to meet the needs of consumers with food sensitivities.

Leading Companies Operating in the Global Carob Powder Industry:

• Alpine Herb Company Inc.
• Bob’s Red Mill Natural Foods
• Frontier Co-op.
• Ingredients UK Limited
• Lewis Confectionery Pty Ltd
• NOW Foods
• OliveNation
• PANOS Brands LLC
• The Australian Carob Co.
• The Carob Kitchen
• Tootsi Impex Inc.

Carob Powder Market Report Segmentation:

By Product:

• Natural
• Organic

Natural represents the largest segment on account of rising preferences for wholesome alternatives.

By Application:

• B2B
  • Bakery
  • Confectionary
  • Others
• B2C

B2B holds the biggest market share due to the thriving food and beverage (F&B) sector.  

Regional Insights:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Europe enjoys a leading position in the carob powder market, which can be attributed to the increasing focus on eco-friendly practices.      

Global Carob Powder Market Trends:

Carob powder is widely employed in various food and beverage applications. Moreover, manufacturers are prioritizing natural and functional ingredients like carob powder as a viable alternative to cocoa powder and other additives. It is used in numerous confectionery, bakery, beverages, and dairy alternatives. Besides this, ongoing product innovation is leading to the development of new formulations and blends, which is impelling the market growth.

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