The North America Carob Market would witness market growth of 8.4% CAGR during the forecast period (2021-2027).
Carob powder does not contain sodium, which makes it a perfect product for people who consume a low-sodium diet. In addition, the high consumption of sodium can lead to a high risk of elevated blood pressure, osteoporosis, stroke, heart attack, and kidney problems. For example, as per the Mayo Clinic, the average American receives 3,400 mg of sodium on the daily basis. This quantity is more than the required and recommended dietary allowance (RDA) of 2,300 mg. Additionally, the American Heart Association states that 1,500 mg of sodium is enough for a person’s daily consumption. Hence, carob is estimated to gain more momentum in the North American region over the forecast period.
The high disposable income of the consumers in this region is motivating consumers to spend more on healthy food substitutes, which would support the growth of the regional carob market. The increasing health awareness among the consumers and the high prevalence of chronic diseases are among the major factors fueling the growth of the regional market. The increasing number of people with caffeine intolerance and sodium intolerance would create more demand for carob in this region.
Moreover, the trend of consuming a gluten-free diet is also supporting the growth of the regional carob market. There are numerous health benefits offered by carobs like low cholesterol, more antioxidants, and high fiber that are attracting more consumers towards it. Carob is increasingly used in the manufacturing of pet food items, which is propelling the regional market growth due to the increasing population of pets across the region.
The US market dominated the North America Powder Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $25,026.9 Thousands by 2027. The Canada market is experiencing a CAGR of 11.5% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 10.6% during (2021 - 2027).
Based on Product, the market is segmented into Gum, Powder, and Others. Based on Application, the market is segmented into Bakery & Confectionery, Nutrition & Supplements, Dairy Products, Pharmaceuticals, and Others. Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Direct Supply, E-commerce, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Carob Market is Estimated to Reach USD 351.7 Million by 2027 at a CAGR of 9.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TIC Gums, Inc. (Ingredion Incorporated), DuPont de Nemours, Inc., The Hain Celestial Group, Inc., Tate & Lyle PLC, Euroduna Americas, Inc. The Carob Kitchen, NOW Foods, Inc., Jedwards International, Inc., Alpine Herb Company, Inc., and Barry Farm Foods.
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