Carob Extract Market

Carob Extract Market Study by Powder and Gum Form for Bakery & Confectionery, Nutrition & Supplements, Dairy Products, and Pharmaceuticals from 2024 to 2034

Analysis of Carob Extract Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Carob Extract Market Outlook (2024 to 2034)

The global carob extract market is benefiting from its increasing use in bakery and confectionary projects, and, as such, is expected to increase from a value of US$ 241.2 million in 2024 to US$ 410.2 million by 2034, expanding at a CAGR of 5.4% along the way.

Extracted from the carob tree (Ceratonia siliqua), carob extract finds application across diverse industries, including food and beverage production, nutraceuticals, cosmetics, and pharmaceuticals. The supply side of the market encompasses manufacturers and suppliers of carob extract, and the demand side encompasses businesses and consumers procuring and utilizing carob extract in their products and formulations. Rising consumer preference for natural ingredients, versatility in applications, sustainability considerations, and innovation in product development are all contributing to the increasing sales of carob extract across the world.

Key Market Growth Drivers

  • Growing health consciousness among consumers is driving the demand for natural alternatives like carob extract, which is recognized for its natural origins and health benefits.
  • There is a rising awareness of the health advantages linked to carob extract, including its high fiber content, antioxidant properties, and potential for managing various health issues, thus contributing to market expansion.
  • The food and beverage sector's rising inclination toward incorporating natural ingredients to meet consumer preferences for healthier choices is fostering the carob extract market growth.
  • Carob extract serves as a natural sweetener, flavor enhancer, and functional ingredient in a variety of food and beverage products.
  • Increasing adoption of vegan and plant-based diets is driving the demand for plant-derived alternatives such as carob extract, replacing animal-derived ingredients.
  • Carob extract's perceived health benefits have made it a desirable ingredient in the nutraceutical and cosmetic sectors. It is utilized in supplements, skincare items, and other health and beauty formulations, boosting its demand.
Report Attributes Details
Carob Extract Market Size (2024E) US$ 241.2 Million
Forecasted Market Value (2034F) US$ 410.2 Million
Global Market Growth Rate (2024 to 2034) 5.4% CAGR
North America Market Value (2024E) US$ 49.2 Million
East Asia Market Value (2024E) US$ 52 Million
Sales of Gum Form (2024E) US$ 182 Million
Key Companies Profiled
  • Altrafine Gums
  • Savvy Foods
  • DuPont
  • Carob S.A
  • Stavros Parpis Foods Ltd.
  • Carob World
  • AEP Colloids
  • Australian Carobs Co.
  • Tate and Lyle
  • Cargill Pvt.
  • LBG Sicilia Ingredients

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What is Driving Global Carob Extract Sales?

“Increasing Adoption of Food and Personal Care Products with Plant-based Ingredients”Top of Form

Rise in vegan and plant-based dietary preferences has resulted in heightened demand for plant-based components such as carob extract, offering substitutes to animal-derived ingredients across a range of products.Top of Form More consumers are progressively opting for natural and plant-based substitutes in their food, beverages, and personal care items. Carob extract, sourced from the carob tree, aligns perfectly with this inclination towards natural ingredients. Carob extract is recognized for its numerous health advantages, characterized by its rich content of fiber, antioxidants, and polyphenols.

Carob trees are sustainable crops that thrive in arid regions with minimal water requirements. As a result, carob extract is regarded as an environmentally friendly ingredient choice, aligning with the concerns of manufacturers and consumers regarding sustainability. Businesses are progressively integrating carob extract into fresh product formulations to fulfill the consumer desire for natural and healthier choices. This advancement in product development is contributing to the expansion of the carob extract market size.

What are the Obstacles Faced by Producers of Carob Extract?

“Insufficient Scientific Evidence to Support Effectiveness and Safety of Carob Extract”

Regulatory authorities establish restrictions or require substantial evidence to support health claims related to carob extracts. Whenever it comes to the claimed advantages of carob extracts, some customers are skeptical, especially in the absence of solid scientific proof. This doubt is making people hesitant to purchase carob extracts, which is decreasing overall sales. Pharmaceutical alternatives are perceived as more potent or dependable, challenging the market position of carob extracts.

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Country-wise Insights

Why is the United States a Lucrative Market for Carob Extract Producers?

“Rising Incorporation of Carob Extract into Functional Food and Beverages”

Attribute United States
Market Value (2024E) US$ 41.9 Million
Growth Rate (2024 to 2034) 4.3% CAGR
Projected Value (2034F) US$ 63.9 Million

With the increasing adoption of veganism, there is a rising need for plant-derived ingredients. Carob extract's natural gluten-free composition and absence of common allergens such as dairy and nuts meet the rising demand for allergen-free and gluten-free food choices driven by sensitivities and dietary choices in the United States.

Carob extract is extensively incorporated into functional foods and beverages for its potential health advantages, including its high fiber, antioxidant, and vitamin content, all of which are sought-after nutritional attributes in many households in the country.

What are the Reasons for Rising Sales of Carob Extract in China?

“Educational Campaigns Promoting Use of Carob Extract”

Attribute China
Market Value (2024E) US$ 31.5 Million
Growth Rate (2024–2034) 7.6% CAGR
Projected Value (2034F) US$ 65.4 Million

With growing health awareness, more consumers in China are actively seeking healthier options to replace conventional ingredients. Carob extract is seen as a preferable alternative to chocolate because of its reduced fat content, inherent sweetness, and absence of caffeine. Consumers in China are expanding their culinary horizons and actively searching for novel ingredients to diversify their food choices.

Carob extract offers a unique flavor profile and nutritional advantages that can be incorporated into various food products, catering to consumers seeking innovative options. Manufacturers are actively involved in innovating carob extract products, exploring novel formulations, flavors, and functional ingredients to align with changing consumer preferences and setting carob extract market trends.

Promotional activities and educational campaigns regarding the advantages of carob extract are also bolstering its sales in China. As consumers are gaining a better understanding of the health benefits and applications of carob extract, their inclination to purchase products containing it is increasing.

Category-wise Insights

Why Gum Account for a Significant Share in Sales of Carob Extracts?

“Increasing Demand for Gluten-Free and Plant-Based Options”

Attribute Gum
Market Value (2024E) US$ 182 Million
Market Share (2024E) 75.36%
Projected Value (2034F) US$ 314 Million

Carob gum, also referred to as locust bean gum, serves as a natural thickener and binder in various food products, including sauces, dressings, dairy alternatives, and baked goods, enhancing their texture and consistency. With its gluten-free and vegan-friendly nature, carob gum caters to consumers adhering to dietary restrictions or preferences, aligning with the increasing demand for gluten-free and plant-based options. Regarded as a healthier and more natural substitute for some synthetic thickeners and stabilizers, carob gum is derived from the carob bean, appealing to consumers seeking clean-label products.

Featuring functional attributes like viscosity control, moisture retention, and stability enhancement, carob gum offers versatility across a broad spectrum of food and beverage formulations. Widely available in global markets, carob gum originates from regions cultivating carob trees, such as the Mediterranean region and parts of Asia, underscoring its substantial presence in sales of carob extracts.

Why is Carob Extract being Increasingly Used in Bakery & Confectionery Products?

“Extensive Use of Carob Extract as Natural Thickener, Binder, and Flavor Enhancer”

Attribute Bakery & Confectionery
Market Value (2024E) US$ 70 Million
Market Share (2024E) 29.12%
Projected Value (2034F) US$ 124 Million

Carob extract is a favored substitute for chocolate in bakery and confectionery products due to its naturally sweet taste and similar texture, making it appealing to those seeking caffeine-free or allergen-free options. Consumers are becoming more health conscious with an inclination toward more nutritious substances, such as carob extract, which contains a lesser fat content and is caffeine-free, under contemporary dietary habits.

Functional features of carob extract, including its use as a thickener, binder, and flavor enhancer, affect the way baked goods and confections taste. Being high in fiber, antioxidants, and vitamins, these extracts improve the nutritional content of baked goods and confections.

Available in various forms such as powder, syrup, and chips, carob extract offers versatility in bakery and confectionery recipes, providing a unique flavor profile and enhancing the appearance of products like baked goods, chocolates, and candies.

Know thy Competitors

Competitive landscape highlights only certain players
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Competitive Landscape

Key players in the carob extract market are Altrafine Gums, Savvy Foods, DuPont, Carob S.A, Stavros Parpis Foods Ltd., Carob World, AEP Colloids, Australian Carobs Co., Tate and Lyle, Cargill Pvt., and LBG Sicilia Ingredients. The carob powder market and the carotenes market are subsidiaries of this market.

  • Previous observations have noted the impact of carob supplements on lipid profiles, with theories proposing that their ability to reduce lipid absorption could be responsible. The phenolic compounds found in carob extract also account for its documented antioxidant and anti-inflammatory properties, potentially reducing circulating IL-6 due to the presence of compounds like quercetin and gallic acid.
  • Associate Professor Akiko Kojima from the Graduate School of Human Life Science at Osaka City University, along with collaborators, has demonstrated that carob powder extract, commonly substituted for cocoa and coffee powder, exhibits anti-obesity effects in both cellular and animal studies.

Key Segments of Carob Extract Market Research

  • By Form :

    • Powder
    • Gum
  • By Application :

    • Bakery & Confectionery
    • Nutrition & Supplements
    • Dairy Products
    • Pharmaceuticals
  • By Distribution Channel :

    • Online Retail
    • Retail Stores
    • Online B2B
    • B2B Direct Supply
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa (MEA)

- FAQs -

How big is the carob extract market in 2024?

The global carob extract market is estimated at US$ 241.2 million in 2024.

What are the forecasted sales value for carob extract in the United States?

Sales of carob extract in the United States are set to reach US$ 41.9 million in 2024.

What is the size of the market in China?

The China market for carob extract is calculated at US$ 31.5 million in 2024.

What are the sales projections for gum extract in 2024?

Worldwide sales of gum carob extract are valued at US$ 182 million in 2024.

What is the projected value of the bakery and confectionery segment for 2034?

The bakery and confectionery segment is projected reach US$ 124 million by 2034.

How is the market for carob extract faring in Japan?

The market in Japan has been forecasted to expand at 6.9% and reach US$ 29.9 million by 2034.

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Carob Extract Market

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