The global konjac market was valued at USD 2,069 Million in 2019 and is projected to reach USD 3,711 Million by 2027, expanding at a CAGR of 8.3% during the forecast period. Konjac is obtained from the plant Amorphophallus konjac. The konjac plant consists 40% glucomannan, which is extracted from the tubers. Konjac is a popular plant in parts of Japan, South Korea, and China. Glucomannan is composed of long-chain carbohydrates, and are considered as fibers, which are difficult to digest. Glucomannan helps reduce cholesterol and blood pressure. Konjac plant is a tuber. The tuber finds its application in food preparation, including pasta, noodles, and flours. Additionally, Konjac is used as a thickening agent in the food industry and several traditional medicines. Rising awareness among consumers regarding the health benefits of dietary fibers has led to the rise in the adoption of konjac as a dietary supplement, which is one of the significant applications of the konjac plants. These plants are used for the manufacturing of several medicines, including the supplements for dietary fiber, capsules, gels, and others. The adoption of konjac has grown in food such as pastas, noodles, and ice creams. Konjac reduces cholesterol, which is a significant advantage of using konjac. The konjac provides the essential nutritional balance in food, and is used for stabilizing blood sugar. It is used as a prebiotic. Konjac promotes the growth of the healthy gut bacteria, which improves digestion and functions of the intestine and boosts immunity.
The market is driven by factors such as increasing health consciousness among consumers, growing demand for digestive supplements, rising demand for weight loss supplements, and surging research & development. Conversely, risks/side-effects associated with konjac hinder the growth of the market. Consumers are conscious about their health, which has led to the adoption of healthy food options. Konjac absorbs large amount of water and facilitates in the removal of toxic materials, which helps in improving digestive system. Moreover, konjac is a nutritious food with low calories and does not increase fats, which is a significant advantage of using konjac. Increase in prevalence of gastro intestinal diseases and rise in obesity due to high consumption of junk food and sedentary lifestyle has led to the rise in awareness among the consumers. People are cautious of improper diet, thereby increasing awareness of konjac-based food products. Increasing prevalence of obesity has led to the rise in the adoption of the weight loss supplements. According to the World Health Organization (WHO), in 2016, more than 1.9 billion adults, aged 18 years and above were overweight. Konjac is used as laxative, which helps in the elimination of toxic materials from the intestine, which facilitates weight loss. This has led to the rise in the adoption of the konjac-based weight loss supplements, thereby driving the growth of the konjac-based supplements. Rising inclination of consumers toward digestive supplements owing to their health benefits drives the demand for the konjac market. In the UK, over 13 million users of digestive problems. Konjac is used in the manufacturing of supplements to improve the quality of intestinal microflora and helps in the removal of bulk of roughage and removing toxins from alcohol and red meat, which boosts the growth of the market. The rise in demand for the dietary supplements are also some of the factors, which contributes for the growth of the market. Konjac has all the essential fibers which helps in the removal of toxic materials and reduces the hunger. This reduces the appetite of the consumers, thereby boosting the demand for the konjac market. The rising demand for loss of weight is also one of the major factors, which has led to the rise in the adoption of the konjac as a weight loss supplement is also one of the major factors, which boost the growth of the market. The rising popularity of konjac based noodles has also led to the rise in the adoption of the konjac in several food products, which contributes to the growth of the market.
On the basis of types, the market is segmented into flour, dietary fibers, gum and gels, and others. The flour segment accounted for 44.2% share of the market in 2019. Rising demand for konjac based food products has led to the adoption of konjac flour, thus boosting segment growth.
In terms of functions, the konjac market is segregated into gelling agent, thickener, film former, emulsifier, stabilizer and others. The thickener segment is anticipated to expand at a CAGR of 9.0% during the forecast period. Rise in demand for thickener for thickening agent in several food products has led to the adoption of thickeners, thereby boosting the segment.
In terms of application, the konjac market is classified as food products, pharmaceuticals, chemical and others. The pharmaceutical segment is anticipated to expand at a CAGR of 9.1% during the forecast period, as demand for the dietary supplements and weight loss supplements has increased, which drives the growth of the segment.
In terms of regions, the global Konjac Market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted market share of 43.2% in 2020. The market in the APAC region is projected to expand at a CAGR of 9.1% during the forecast period. Increasing demand for konjac based products and rise in presence of several manufacturers, is thereby boosting the growth of the konjac market in Asia Pacifica.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report gives the brief about the konjac market.
Yes, the report covers product specific information such as konjac flour, konjac thickeners, etc.
According to this Growth Market Reports report, the market from Konjac market shall probably to register a CAGR of 8.3% during forecast period 2020-2027, with an anticipated valuation of USD 3,771.1 million by the end of the 2027.
In addition to market size (in US$ Million) and Company Market Share (in % for base year 2019), other data such as recent advancements is available in final report.
The rising prevalence of obesity and rising awareness among consumers for dietary supplements, are expected to drive the market growth during forecast period.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness decline of over 4.0% between 2019 and 2020 owing to the negative impact of COVID-19 pandemic on the konjac market. The rising demand for the food konjac based supplements are expected to boost the growth of the market.
The base year considered for the global konjac market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major Manufactures include, Hubei Yizhi Konjac Biotechnology Co., Ltd, Zeroodle, Miracle Noodle, NAH Foods, Shanghai Brilliant Gum Co. Ltd and Henan Xin Industry Co. Ltd. And Baoji Konjac Chemcial Co., Ltd., NOW Foods among others are the key players operating in the market.
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