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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
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)
Carob Chocolate Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Carob Chocolate Regional Outlook (Revenue, USD Million, 2016 - 2028)
List of Key Players of Carob Chocolate Market
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