According to Stratistics MRC, the Global Carob market is expected to grow from $XX million in 2016 to reach $XX million by 2022 with a CAGR of XX%.

GAITHERSBURG, MARYLAND, US, June 5, 2017 /EINPresswire.com/ -- Some of the factors propelling the market growth are raising demand of carob powder which is used in curing cancer, diarrhea and lowering cholesterol levels. Growing usage of carob in bakery and confectionery industry is fuelling the market driving the forecast period.

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Based on the application, food and beverages segment is leading the market globally during the forecast period. The growth is contributed to raising usage of carob in bakery products such as pancakes, bread, cookies etc. Carob pod meal is extensively used for livestock. Europe accounted for the largest share in global carob market followed by Asia Pacific. Growing demand for carob powder in several bakery items and confectionery are fuelling the market growth in this region.

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Some of the key players in global carob market include Australian Carobs Pty Ltd, Carob S.A, Euroduna Americas Inc, CyberColloids Ltd, The Hain Celestial Group, Inc , Savvy Foods Ltd, Carobs Australia Inc, Creta Carob, Lewis Confectionery Pty Ltd and Madanargan.

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