The
global Carob
Chocolate Market size is expected to reach USD 1.31 billion by 2028,
registering a CAGR of 6.4% over the forecast period, according to a new report
by Grand View Research, Inc. The growing product demand as a healthier
alternative, coupled with the growing expansion of online retail in the nutritional
foods sector is acting as a major driver. The growing consumer demand for foods
of higher nutritional and sensory quality has encouraged the introduction of
carob ingredients, in bakery products. Carob is a good source of
antioxidants, as one tablespoon of it processed into a powder has approximately
25 calories, no saturated fat, no cholesterol, and 6g of carbohydrate. As
compared to carob powder cocoa powder has more fat and caffeine.
Carob also contains three times as much calcium as cocoa powder, has a high
iron content, and is claimed to reduce cholesterol. Growing awareness regarding
such benefits is driving product sales.
The
increased consumer demand for organic products has prompted several
manufacturers to enter new industries with a slew of product launches. In this
regard, brands are coming up with organic carbo chocolates. For instance, in
January 2020, Carobou, the official importer and producer of The Australian
Carob Co., released organic carob chocolate bars under the brand Aussie USA,
which is USDA-certified organic, soy-free, and caffeine-theobromine-free. The
supermarkets & hypermarkets segment accounted for the maximum revenue share
in 2020. Supermarkets/hypermarkets offer a variety of products. Owing to the
increasing demand for healthy products, many of these stores have been
increasing shelf space and providing trained professionals that guide customers
about the quality of the products, offer food samples, and provide expert
recommendations. The market is characterized by the presence of small companies
owing to family businesses and startups. Key players are focusing on expanding
their portfolios by introducing new products.
Related Press
Release@ Carob
Chocolate Market Report
Carob Chocolate Market Report Highlights
- North
America accounted for the maximum share of the global revenue in 2020. The
rising number of health-conscious consumers in the region is boosting the
product demand as it is majorly promoted as a substitute
for chocolate with no caffeine or theobromine content
- The chips
product segment is projected to register the fastest CAGR during the
forecast period
- The rising
trend for preparing products using natural ingredients and clean-label
products is expected to boost the demand for carob chocolate products,
including carob chocolate chips
- The others
segment is expected to register the fastest CAGR during the forecast
period. The others segment includes independent grocery stores, airport
retail stores, gym stores, and e-commerce websites
- Companies
have been expanding their customer base by distributing products through
various distribution channels
Carob Chocolate Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 858.7 million |
|
Revenue forecast in 2028 |
USD 1.31 billion |
|
Growth rate |
CAGR of 6.4% from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2016 - 2019 |
|
Forecast period |
2021 - 2028 |
Related Reports@
Organic Chocolate Spreads Market
Carob Chocolate Market Segmentation
Grand
View Research has segmented the global carob chocolate market on the basis of
product, distribution channel, and region:
Carob Chocolate Product Outlook (Revenue, USD Million,
2016 - 2028)
- Bars
- Chips
- Others
Carob Chocolate Distribution Channel Outlook (Revenue,
USD Million, 2016 - 2028)
- Supermarkets
& Hypermarkets
- Convenience
Stores & Drug Stores
- Healthy
& Specialty Stores
- Others
Carob Chocolate Regional Outlook (Revenue, USD Million,
2016 - 2028)
- North
America
- U.S.
- Europe
- Germany
- U.K.
- France
- Belgium
- The
Netherlands
- Asia Pacific
- China
- Australia
- Central
& South America
- Brazil
- Middle East
& Africa
- South
Africa
List of Key Players of Carob Chocolate Market
- Missy J’s
- CAROBOU LLC
- The Carob
Kitchen
- Uncommon
Carob
- Foundations
Food
- D&D
Chocolates
- Iswari
- Caroboo
- Supertreats
U.K.
- Carob World
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-95196
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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