Carob Bars Market to be Dominated by European Region through 2026
Growing demand for healthy and vegan supplements and
increasing adoption of a healthy lifestyle is driving the growth of the Global
Carob Bars Market in the forecast period, 2022-2026.
According to TechSci Research report, “Carob
Bars Market - Global Industry Size, Share, Trends, Opportunity and
Forecast, 2016-2026 Segmented By Category (Tablets, Countlines, Pouches &
Bags, Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience
Stores, Online, Others), and By Region”, the Global Carob Bars
market is anticipated to grow at a rate of significant CAGR for the forecast
period, 2022-2026. Carob bars are considered an excellent alternative to
chocolates for people who are unable to consume chocolate due to intolerance
for dairy and cocoa products.
Carob products are in high demand among the people
who are aware of their health and maintain an individual's weight. These are
sold as health food stores as they are high in protein and phytonutrients,
which helps in the prevention of cardiovascular problems. Carob bars market
players are making efforts to surge awareness about the health benefits by
adopting attractive marketing strategies. They are investing in developing an
efficient supply chain to meet the growing demand across the globe.
The availability of carob bars through online
platforms is expected to increase its reach in different economies. Market
players are offering carob bars at discounted rates and providing the facility
of quick and doorstep delivery to boost the sales of the carob bars. The
growing demand for carob bars is fueling the number of market players to
introduce new products with attractive packaging and materials, which in turn
is expected to create huge potential for market growth.
However, limited availability and high cost than
chocolate of carob bars may restrain the Global Carob Bars market growth in the
forecast period.
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The Global Carob Bars market is segmented on the
basis of category, distribution channel, regional distribution, and competition
landscape.
On the basis of category, the Global Carob Bars
market is divided into tablets, countlines, pouches & bags, and others. The
tablet category of carob bars is expected to hold the largest market share for
the forecast period, 2022-2026. Carob tablets are used for the treatment of
diarrhea, heartburn, and the inability of the intestine to absorb nutrients
from the food.
It is also used for the treatment of obesity, high
cholesterol, and feeling of vomit during pregnancy. Easy availability and
accessibility of carob bars in retail stores and the rise in consumers'
awareness about the health benefits of the intake of carob tablets are
influencing the market demand.
On the basis of distribution channel, the Global
Carob Bars market is divided into supermarket/hypermarkets, convenience stores,
online, and others. The supermarket/hypermarket distribution channel is
expected to account for major market share in the next five years.
Supermarkets/hypermarkets display a variety of products of different brands in
a single place and display a large number of retail stores for the purchase of
consumer goods.
Retail stores are located in a single place, giving
the customers ample opportunity for exploration and choosing the product
according to their range and requirements. An increase in the working
population, rapid urbanization, and competitive pricing among the market
players are expected to create lucrative opportunities for the global carob
bars market growth in developing countries.
On the basis of regional analysis, the European
region is expected to hold the largest global carob bars market share in the
next five years. The improvement in the expenditure capacity and the growing
health consciousness of the consumers is driving the demand for healthy edible
products market demand. The high consumption of bakeries, confectioneries, and
dairy products is expected to fuel the demand for items containing natural
ingredients and additives to prevent health issues. With the growing demand
from consumers, the market players are making efforts to launch healthy
products.
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“The rise in the number
of vegan populations around the globe is fueling the demand for vegan-free
products. Change in the lifestyle and consumption patterns and increasing carob
bars to satisfy the high demand contribute to the high market growth. The shift
in the inclination of the consumers towards sugar-free alternatives and the
growing prevalence of diabetes and other chronic diseases is fueling the
adoption of healthy food items, which is turn is expected to propel the robust
growth of the global carob bars market till 2026” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Carob Bars Market -
Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented
By Category (Tablets, Countlines, Pouches & Bags, Others), By Distribution
Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, Others), and By
Region”,
has evaluated the future growth potential of Global Carob Bars and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Carob Bars market.
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