Carob Protein Market Outlook
The increasing awareness of healthy foods with more nutritional values and rising consumer awareness is leading to the growing demand for convenience & functional food is further driving the carob protein market. The carob is a pod of a tree especially found in the Middle East countries, the rip pods have sweet pulp that is then dried, roasted, and then crush into powder which look-alike cocoa powder.
Carob powder is used as a natural sweetener in baked goods owing to its sweet, no fat content and has a unique taste. Furthermore, carob is low in sodium, it contains calcium, but no oxalates, high in fiber, a good source of antioxidants, caffeine-free making carob protein popular in the pharmaceuticals industry. The carob powder is used as a sprinkle on yogurt or ice cream, as carob drink, creamy carob pudding, and candy bars among others.
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The Increasing Demand for Carob Proteins in Pharma Industry and Growing Market for the Dietary Supplement is Anticipated to Increase the Demand for Carob Protein Market
The rising urbanization and increasing hectic lifestyle are leading to growing market prospects for functional food. Carob proteins are a rich source of fibers as they contain polyphenol antioxidants. Carob protein contains properties including anti-inflammatory, anticancer, anti-diabetic, and neuroprotective abilities that are attracting the demand for carob protein in dietary supplements and pharmaceutical industry.
Carob with a protein content of more than 95 percent protein isolate, also with a well-balanced amino acid composition, can be an attractive ingredient for use in human dietary food processing. Carob protein is also used as thickening & stabilizing agent, and gelling agent in the food industry.
Besides, carob pod meal is a rich source of energy and serves as livestock feed particularly for ruminants. The carob protein does not contain caffeine and theobromine therefore it is widely used in animal pet foods especially dog pet food. Growing demand for animal feed and increasing awareness concerning animal welfare is thus creating market prospects for carob protein market.
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Carob Protein market: Market Segmentation
On the basis of application, the carob proteins market can be segmented as:
- Food and Beverage
- Bakery products
- Sauces, soups, and dressings
- Jams and jellies
- Meat products
- Animal Feed and Pet Food
- Cosmetic and Personal Care
- Dietary Supplements
Based on form, the carob proteins market can be segmented as:
Based on distribution channel, the carob proteins market can be segmented as:
- Store-Based Retailing
- Convenience Stores
- Specialty Stores
- Grocery Stores
Carob protein Market: Regional Analysis
Europe is dominant player in the carob proteins market followed by the Asia Pacific owing to increasing demand for carob powder in confectionery and bakery products. Investments and new products launches are strategy adopted by key players to expand on the potential growth for carob proteins. The growing supply of carob powder in supermarkets and hypermarkets will also fuel demand in the coming years. In addition, the change in customer inclination towards sugar-free protein including carob protein is projected to increase in Asian regions due to the growing prevalence of diabetes.
Carob proteins Market: Key Participants
- FMC Corporation
- Gum Technology Corporation
- Cargill, Incorporated
- TIC Gums, Inc.
- Fiberstar Inc.
- Scalzo Trading Co Pty Ltd
- CP Kelco
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