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Carob Chocolate Market

Carob Chocolate Market Size, Share and Segmentation by Product (Bars, Chips), by Distribution Channel (Health & Specialty Stores, Supermarkets & Hypermarkets), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/F&B/1720 | June 2022 | Region: Global | 120 Pages

Report Scope & Overview:

The Carob Chocolate Market Size was esteemed at USD 0.99 billion out of 2021 and is supposed to arrive at USD 1.6 billion by 2028, and develop at a CAGR of 6.92% over the forecast period 2022-2028.

Carob (Ceratonia siliqua) is a local plant in the eastern Mediterranean, particularly in the Middle East nations. Carob is additionally called grasshopper bean and is essentially developed for its palatable units in a significantly Mediterranean locale that incorporates Southern Europe, Northern Africa, and the Canary Islands. Carob powder is likewise utilized as a substitute for cocoa powder in different bread shop items.

Carob Chocolate Market Revenue Graph

Carob-based bars are consumed as a choice rather than chocolate-based bars all over the planet. Carob doesn’t contain caffeine and theobromine (which is bigoted to certain creatures) and accordingly is generally utilized in chocolate enhanced pet nourishment for canines and different creatures. Carob unit dinner is generally utilized as a rich wellspring of energy for animals, especially for ruminants. Carob in the food business is used as a thickening subject matter expert, gelling trained professional, offsetting a trained professional, or as a substitute for low-calorie food things.

Carob is sans fat, well off in gelatin, and contains a high proportion of proteins. Carob is fundamentally utilized in the creation of sweet shop and bread kitchen items and an assortment of drinks. Carob is likewise utilized for making flour, molasses, and subs for espresso.

Barley and carob. These are the fixings utilized in a fresh out the plastic new sort of chocolate whose assembling cycle depends on maturation to try not to utilize cocoa. The London-based organization WNWN FoodLabs has chipped away at a moral idea to take the issue of young workers in Côte d'Ivoire and Ghana, as well as deforestation created by the development of cacao, out of the situation.

Market Dynamics:

Driving Factors:

  • Rising wellbeing mindfulness among customers.

  • Different medical advantages of carob.

Restraining Factors:

  • Significant expense and restricted accessibility.

Opportunities:

  • Expanded instances of stoutness.

  • Expanding amazing open doors in the bread kitchen and candy store industry.

Challenges:

  • Less accessibility of unrefined components.

Impact of Covid-19:

The spread of COVID-19 has influenced practically all ventures. Coronavirus has caused a circumstance of a health-related crisis which brought about the ascent in the interest for clinical and cleanliness items. Because of this pandemic, a great many people are worried about eating dependable and quality food items which is the justification for expanded interest in conventional and good food items. Utilization of foods grown from the ground, entire grains, heartbeats, eggs, and other such things have gotten momentum among the purchasers.

Impact of the Ukraine – Russia war:

Significant cocoa processors and chocolate brands have tasks in these nations. Amidst this tactical show, it is hard to imagine the effect on the activity of offices, possible harm, and obvious security of faculty of these companies. The importation of cocoa beans and cocoa semi-completed items to Ukraine (40,000 tons in cocoa beans identical in 2020/21) and the Russian Federation (165,000 tons in cocoa beans same) are supposed to decrease in the remainder of the 2021/22 season for various reasons.

Market Estimations:

Product:

In light of Products, the market is divided into Bars, Chips, and Others. The chips portion is expected to show a promising development rate in the carob chocolate market over the estimated period. A significant number of cocoa chip buyers are moving to carob chips, a better option with low fat and sugar.

Distribution Channel:

In light of the Distribution Channel, the market is divided into Supermarkets and Hypermarkets, Convenience Stores and Drug Stores, Healthy and Specialty Stores, and Others. Corner shops and pharmacies fragment earned a huge income share in the market in 2020. Corner shops and pharmacies are the retail locations that have a restricted scope of things like pressed food varieties and pharmacy things and are open till late for the accommodation of buyers. These stores have a high reach and consequently, carob chocolate organizations are focusing on these stores to arrive at additional expected clients.

Key Market Segmentation:

By Product:

  • Bars

  • Chips

  • Others

By Distribution Channel:

  • Supermarkets & Hypermarkets

  • Convenience Stores & Drug Stores

  • Healthy & Specialty Stores

  • Others

Carob Chocolate Market Segment Chart

Regional Analysis:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Geologically, the worldwide carob industry can be isolated by significant areas which incorporate North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and the Middle East, and Africa. Around the world, among all areas, Europe has been created as the predominant locale in the worldwide carob market followed by the Asia Pacific. Expanding interest for carob powder in different pastry kitchen items and candy parlors has reinforced the development of the worldwide carob market and thus is projected to extend the income commitment of the market over the gauge period essentially.

Key Players:

Missy J’s, CAROBOU LLC, The Carob Kitchen, Uncommon Carob, Foundations Food, D&D Chocolates, Iswari, Caroboo, Supertreats U.K., Carob World

Carob Chocolate Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 0.99 Billion
Market Size by 2028 US$ 1.6 Billion
CAGR CAGR 6.92% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Product (Bars, Chips)
• by Distribution Channel (Health & Specialty Stores, Supermarkets & Hypermarkets)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Missy J’s, CAROBOU LLC, The Carob Kitchen, Uncommon Carob, Foundations Food, D&D Chocolates, Iswari, Caroboo, Supertreats U.K., Carob World
Key Drivers •Rising wellbeing mindfulness among customers.
•Different medical advantages of carob.
Market Challenges •Less accessibility of unrefined components.


Frequently Asked Questions (FAQ) :

Ans: Product Type and Distribution Channel segments are covered in the Carob Chocolate Market.

Ans: Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.

Ans: Europe has the biggest offer in the Carob Chocolate market.

Ans: Significant expense and restricted accessibility and Less accessibility of unrefined components are the restraining factors and challenges faced by the Carob Chocolate market.

Ans: The Global Carob Chocolate Market Size is supposed to arrive at USD 1.6 billion by 2028, and develop at a CAGR of 6.92% over the forecast period 2022-2028.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 Covid 19 Impact Analysis

4.2 Impact of the Ukraine and Russia war

 

5. Value chain analysis

 

6. Porter’s 5 forces model

 

7. PEST analysis

 

8. Global Carob Chocolate Market segmentation, by Product:

8.1 Bars

8.2 Chips

8.3 Others

 

9.  Global Carob Chocolate Market segmentation, by Distribution Channel:

9.1 Supermarkets & Hypermarkets

9.2 Convenience Stores & Drug Stores

9.3 Healthy & Specialty Stores

9.4 Others

 

10. Global Carob Chocolate Market, by region/ country

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

11. Company profiles

11.1 Missy J’s

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 Swot Analysis

11.1.4 The SNS View

11.2 AlternaScript

11.3 CAROBOU LLC

11.4 The Carob Kitchen

11.5 Uncommon Carob

11.6 Foundations Food

11.7 D&D Chocolates

11.8 Iswari

11.9 Caroboo

11.10 Supertreats U.K.

11.11 Carob World

 

12. Competitive Landscape

12.1 Competitive Bench Marking

12.2 Market Share Analysis

12.3 Recent Developments

 

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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