Konjac Market

Konjac Market Outlook (2022-2032)

Konjac is a suitable diet meal since it has a large amount of fiber, nearly few calories, and glutin. Due to its high thickening and emulsifying properties, konjac containing glucomannan is primarily used as a food additive in products like fruit juices, jams, pasta, noodles, and others. It is also used as a nutritional supplement to prevent various health issues, including obesity, high cholesterol, constipation, diabetes, acne, and others. Due to its widespread use across numerous industries, konjac demand has seen a significant increase over the past few years and is predicted to increase significantly over the coming years.

The starchy corm of the plant, which is extremely rich in the dietary fiber glucomannan, is what gives the plant its name. About 40% of the glucomannan gum used as a dietary supplement and an ingredient in high-fiber flours and jellies can be found in the dried corm of the konjac plant.

The konjac market is anticipated to grow with a CAGR of 7.1% in the forecast period. The market is expected to expand and cross a valuation of USD 2101.08 Million by 2032. The market is at present valued at USD 1058.15 Million in 2022.

Report Attributes	Details
Market size (2022 A)	USD 1058.15 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 2101.08 Million
Global Market Growth rate (2022-2032 E)	CAGR of 7.1%
Key Companies Profiled	Hubei Yizhi Konjac Biotechnology Co. Ltd Zeroodle Miracle Noodle NAH Foods IHerbs Slendier Shanghai Brilliant Gum Co. Ltd Henan Xin Industry Co. Ltd. Baoji Konjac Chemical Co. Ltd. NOW Foods

What are the drivers for the growth of this market?

Consumers, nowadays, have become very conscious about their health and thus, have also become very particular about the food products they consume. Konjac fibers have been used in the APAC region for several years as traditional medicine. Konjac food products, such as flour, pasta, noodles, fruit jelly, and others, offer enormous health benefits, such as diabetes management, weight loss, cholesterol control, constipation, detoxification, cough, and acne.

The demand for Konjac products is also increasing on account of its prebiotic properties which help in improving intestinal functioning, integrity, and immune system. Other than its health benefits, konjac also exhibits thickening, stabilizing, food gelation, and emulsification properties.

Konjac powder is also used as an alternative to seafood in vegan food. Konjac flour is expected to witness strong growth over the forecast period on account of its increasing application scope in the food & beverages and pharmaceutical industries. Considering these diversified properties and benefits, the market potential for this plant is likely to be significant.

What are the challenges ahead of manufacturers in this industry?

Despite probiotic properties attracting customers to adopt it as part of diets, the high cost of these products affects penetration among customers. The rise in prices of products is effective of the increased cost of production which is likely to affect the margin profit of firms in the forecast period. This is anticipated to restrain the market in the upcoming time.

What are the opportunities in the market?

Propelling health concerns have been driving the market growth of these products over the past few years. Konjac products have resulted in strong demand for this from healthy foods, pharmaceuticals, food additives, and pet feed sectors in European and American countries.

The potential for the growth of the Konjac market is quite high, owing to its diverse applications, properties, and several health benefits. These plants can be easily grown in various environments. At present, the plant and its products are generally grown and produced in the APAC region. However, due to the increasing demand for high-fibrous, low-calorie, and low-gluten products, there are enormous opportunities for companies worldwide to grow significantly in the Market.

Segment wise Insights

On the basis of the end-user industry, the food and beverage sector is accounted for a major share of the market. The medical application of this plant is likely to boost the pharmaceutical industry. Due to the specific qualities and health benefits of this plant is anticipated to increase consumption in upcoming years. Furthermore, there is significant government support available in this domain which is likely to increase the inclusion of its usage in the food segment.

On the basis of product type, the flour segment dominates in market share at present. This dominance is due to the multivariate applications of flour in the medicines and food sector. This flour is preferred for longer shelf life. The keenness of people towards diet is now increasing than ever before which fuel up demand for healthy food options.

Based on the distribution channels, Supermarkets are dominant in the sector with the highest share. The hypermarkets provide customers variety of in-store options with assistance from salespersons. This facilitation was likely to increase store preferences in the upcoming period. The perishability of plants is another criterion for which consumers prefer visiting stores to buy them. However online sales are anticipated to gain traction owing to a rise in doorstep delivery amenities and penetration of online order applications.

Regional Outlook

Asia Pacific is the dominant region in terms of the market. Japan is dominant in terms of demand for konjac owing to its inclusion in the diet of people. This market is estimated to increase demand for food sector usage of konjac in upcoming years. However, the high prices of this plant have recently declined demand for gel products. Innovation in food products and additives is anticipated to increase their share in North America and Europe in the forecast period.

Konjac Market: Market Segmentation

• By Product Type :

  • Gum
  • Dietary fibers
  • Konjac flour
  • Gel
  • Sponge

• By Applications :

  • Food products
    • Noodles
    • Pasta
    • Flour
    • Fruit jelly
    • Rice
  • Pharmaceuticals
  • Skin care products
    • Sponge
    • Gel
    • Cream

• By End-use Industries :

  • Food
  • Pharmaceuticals
  • Personal care and cosmetics
  • Chemical
  • Nutritional industry

• By Region :

  • North America
  • Latin America
  • Europe
  • CIS & Russia
  • Japan
  • APEJ
  • Middle East & Africa