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.
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However, limited availability and high cost than chocolate of carob bars may restrain the Global Carob Bars market growth in the forecast period.
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.
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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.
“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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