Global Carob Powder Market Size & Outlook, 2023-2030
Global carob powder market, 2018-2030 (US$M)
Related Markets
Global carob powder market highlights
- The global carob powder market generated a revenue of USD 56.6 million in 2023 and is expected to reach USD 75.1 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.1% by 2030.
- In terms of segment, natural accounted for a revenue of USD 31.8 million in 2023.
- Organic is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Europe was the largest revenue generating market in 2023.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 56.6 million |
| Market revenue in 2030 | USD 75.1 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Natural |
| Fastest growing segment | Organic |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Natural, Organic |
Other key industry trends
- In terms of revenue, the North America accounted for 25.8% of the global carob powder market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 4.9 million by 2030.
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Carob Powder Market Scope
Carob Powder Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global carob powder market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to carob powder market will help companies and investors design strategic landscapes.
Natural was the largest segment with a revenue share of 56.18% in 2023. Horizon Databook has segmented the Global carob powder market based on natural, organic covering the revenue growth of each sub-segment from 2018 to 2030.
More consumers become aware of the nutritional advantages of carob powder, there is a growing demand for products that contain this ingredient. This has led to an expansion in the variety of food and beverage products that incorporate carob powder, including snacks, drinks, and baking ingredients.
Additionally, the rise in health-conscious consumer behavior has prompted food manufacturers to promote carob powder as a natural, plant-based alternative to traditional cocoa powder, which has contributed to its increased use in the food industry.
Furthermore, the perception of carob powder as a healthier option due to its low-fat content, high fiber content, and lack of caffeine has influenced consumer purchasing decisions, leading to a surge in the market demand for carob-based products.
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Our clientele includes a mix of carob powder market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global carob powder market , including forecasts for subscribers. This global databook contains high-level insights into Global carob powder market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global carob powder market size, by region, 2018-2030 (US$M)
Top 10 countries: Carob powder market size, 2023 (US$M)
Global carob powder market share, by product, 2023 & 2030 (%, US$M)
Carob powder market: Opportunity assessment by country
Global carob powder market, by region, 2023 (US$M)
Related regional statistics
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