According to a new report Global Carob Market, published by KBV research, The Global Carob Market size is expected to reach $351.7 Million by 2027, rising at a market growth of 9.3% CAGR during the forecast period.
The retail store segment accounted for the largest share in the carob market in 2020 and is estimated to witness a substantial growth rate during the forecast period. Retail stores consist of supermarkets & hypermarkets and specialty stores that focus more on increasing product sales to raise their profit margins.
The bakery & confectionery segment acquired the largest share in the market in 2020 and is anticipated to procure a promising growth rate during the forecast period. In addition, the high growth potential of the baking & confectionery industry is estimated to give it a remarkable position in the food processing industry.
The Europe market dominated the Global Carob Market by Region in 2020, growing at a CAGR of 9.1 % during the forecast period. The North America market is experiencing a CAGR of 8.4% during (2021 - 2027). Additionally, The Asia Pacific market is poised to grow at a CAGR of 10.7% during the forecast period.
Full Report: https://www.kbvresearch.com/carob-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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