Carob is currently being examined as a protein source. Research indicates that the flour made from the germ of carob has a high protein content, 46%. By isolating the germ further, protein content percentages, in a laboratory setting, have reached as high as 95% according to studies currently being done at the Universidad de Sevilla, Instituta de la Grassia. This isolate is of interest because it would offer an alternative to soy or dairy proteins for protein shake formulas created for athletes and for diabetics.
In addition to the higher levels of protein, the germ flour also yields higher levels of arginine, an essential amino acid that is important for healing wounds, immune function, and hormone release among other physiological functions.
Carob flour and carob bean gum are also useful for people with Celiac Disease or gluten intolerance as carob contains no gluten.
Another health benefit is the effect of carob fiber, taken from the pulp of the fruit, in lowering cholesterol. According to a study published in the European Journal of Nutrition "Daily consumption of food products enriched with carob fibre shows beneficial effects on human blood lipid profile and may be effective in prevention and treatment of hypercholesterolemia." The fiber is also high in phenolic antioxidant substances and there are studies underway looking into the chemopreventive qualities of carob.
To rephrase all of that in a less confusing way carob is great as a sweetener substitute, it is high in protein and will probably be coming soon to a protein supplement near you. Useful for people who can not ingest gluten, it is also showing promise as a functional food that may help lower cholesterol and help prevent oxidative cell damage.
Consider adding carob to your diet but please remember to read the labels. If you start seeing wonderful health claims that's fine but always check what other ingredients are in your food before you unthinkingly purchase something because of the marketing on the package.