The Carob Powder Market is Predict to reach USD 72.6 Million by 2030, at a CAGR of 4.3%

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Carob Powder Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Carob Powder Market size is expected to reach $72.6 million by 2030, rising at a market growth of 4.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 4,067.0 tonnes, experiencing a growth of 4.0% (2019-2022).

Sustainability extends beyond sourcing to packaging. Innovations in sustainable and eco-friendly packaging solutions for carob powder contribute to reducing the environmental impact of the product, appealing to environmentally conscious consumers. Ongoing research into the nutritional benefits of carob contributes to its position as a functional food ingredient. Advancements in understanding the bioactive compounds present in carob and their potential health benefits drive innovation in product development. Culinary education and recipe development play a pivotal role in shaping the market. Brands are investing in educating consumers about the versatility of carob powder through online platforms, cooking classes, and recipe collaborations, fostering increased usage in home kitchens.

The Natural segment is leading the Global Carob Powder Market, By Product in 2022; thereby, achieving a market value of $42.9 million by 2030. Carob powder, a naturally derived product from the carob tree pod, aligns with this trend. Consumers seek alternatives to conventional cocoa powder and chocolate products, favoring those with a clean label and fewer additives. The clean label movement, characterized by the preference for products with transparent and easily understandable ingredient lists, has influenced carob powder demand. Thus, these factors will boost the demand in the segment.

The B2C segment is experiencing a CAGR of 6% during (2023 - 2030). B2C transactions provide consumers with convenience and accessibility. The ease of online purchasing carob powder products and doorstep delivery enhances the overall customer experience. This convenience is particularly appealing to busy consumers seeking healthy alternatives. Therefore, the segment will grow rapidly in the coming years.

Full Report: https://www.kbvresearch.com/carob-powder-market/

The Europe region dominated the Global Carob Powder Market, By Region in 2022 thereby, achieving a market value of $27.8 million by 2030, growing at a CAGR of 3.8 % during the forecast period. The Asia Pacific region is experiencing a CAGR of 4.9% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 3.9% during (2023 - 2030).

List of Key Companies Profiled

Carob Powder Market Report Segmentation

By Product (Volume, Tonnes, USD Million, 2019-2030)

Natural
Organic

By Application (Volume, Tonnes, USD Million, 2019-2030)

B2B
- Bakery
- Confectionary
- Others
B2C

By Geography (Volume, Tonnes, USD Million, 2019-2030)

North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA