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The konjac market size is forecast to increase by USD 454.2 billion at a CAGR of 8.52% between 2024 and 2028. There is a notable increase in the consumption of low-calorie foods, driven by growing health consciousness among consumers. Simultaneously, the cosmetic sector is witnessing rising demand for natural products, leading to increased usage of konjac sponges. These sponges are valued for their eco-friendly and gentle exfoliating properties. Additionally, the agricultural industry is seeing a surge in the usage of animal-feed additives to enhance nutritional value and promote healthier livestock. These trends reflect a broader shift towards sustainable and health-oriented practices in both consumer and industrial sectors. As awareness grows about the benefits of natural ingredients and nutritional enhancements, industries are responding by innovating and adapting to meet evolving consumer preferences and regulatory standards.
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The flour segment is diversifying with alternatives like glucomannan, a soluble fiber derived from the starchy corm of Amorphophallus konjac. Known for its gluten-free and low-calorie properties, glucomannan is gaining popularity in the culinary world for its thickening abilities in noodles, snacks, and beverages. Beyond food, it is also utilized in cosmetic industry formulations, particularly in skincare products and beauty products where its soluble dietary fiber content offers beneficial effects.
In the health sector, glucomannan is recognized as a potent dietary supplement for weight reduction, owing to its ability to promote a feeling of fullness. It's commonly found in dietary fiber supplements alongside sources like oats, beans, apples, citrus fruits, carrots, and psyllium, all known for their contributions to digestive health and overall wellness. This versatile ingredient is increasingly integrated into medical formulations and weight reduction supplements, highlighting its multifaceted role in promoting health and nutrition.
Key Konjac Market Driver
Significant Konjac Market Trend
Major Konjac Market Challenge
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Andi Johnson Group - Andi Johnson Group is a privately held company headquartered in China. It is a country company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global konjac market is a key component of its overall revenues.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The food and beverages segment is estimated to witness significant growth during the forecast period.The food and beverages industry will absolutely witness an expeditious growth during the forecast period because of its emulsifying and food gelation properties and its application of konjac in food and additive too. The ever-developing food and beverage enterprise is propelling the growth of the worldwide marketplace, and it is expected that it will continue to witness growth during the forecast period. Thanks to a wide variety of product packages of konjac, which include meal additives, thickeners, and meal jams, a number of the others, which might be used widely within the market in focus.
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The food and beverages segment accounted for USD 382.50 million in 2023 and showed a gradual increase during the forecast period. In addition to this, the developing demand for stabilizing and gelling sellers has been similarly boosting market growth. Konjac has very excessive nutritional fibers because it includes 40% glucomannan, which bestows the consumers with nutritional value and prevents health problems, which include excessive cholesterol and diabetes, and enhances the general immune system. Owing to such factors, the food and beverage segment is expected to grow which in turn will drive the growth of the global konjac market.
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North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Konjac flour has been used in the US for more than a century, most lately as a thickening or gelling agent in processed foods. When used in this way, it is far more commonly identified as safe as per the FDA. With the addition of a mild alkali, which includes calcium hydroxide, konjac flour will be a strong, elastic gel that resists melting even at prolonged heating conditions. It may also shape gels upon interactions with different hydrocolloids, which include starch, xanthan gum, or carrageenan. These gels may be used to bind water in surimi, meats, or vegetarian foods or to behave as a fat replacer in many kinds of processed foods.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Root vegetables are increasingly favored in diets driven by consumer health consciousness, particularly for their rich dietary fiber content and low-calorie profiles. They play a crucial role in digestive supplements and weight loss supplements, addressing issues such as gastrointestinal disorders and obesity. One notable root vegetable gaining prominence is konjac, renowned for its laxative properties and ability to support colon health.
In the agricultural environment, root vegetables are cultivated sustainably to meet demand from specialty stores, superstores, and convenience stores catering to diverse dietary needs like veganism, gluten-free diets, and ketogenic diets. Konjac, available in forms like konjac rice, konjac pasta, and konjac wraps, serves as a natural and healthful food substitute, fitting into functional foods and sustainable meal substitutes.
Its derivatives, such as Konjac Flour and Konjac Gum are widely used in medical and pharmaceutical applications, as well as in beauty products as an emulsifier and thickener. Root vegetables like potatoes further enhance nutritious diets, contributing to efforts in promoting overall wellness and supporting healthy lifestyles.
Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.52% |
Market growth 2024-2028 |
USD 454.2 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
7.67 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 30% |
Key countries |
US, China, Japan, Malaysia, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Andi Johnson Group, Baoji Konjac Chemical Co. Ltd., BLG, Hubei Tongyi Konjac Biotechnology Co. Ltd, Ishibashiya Konjac Co., Miracle Noodle, NAH Foods Ltd, NOW Health Group Inc., Slendier, The Konjac Sponge Co., and Zeroodle USA |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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