Konjac Market Size Worth $2.04 Billion By 2032 – PMR Study
The global konjac market size is expected to reach USD 2.04 billion by 2032, according to a new study by Polaris Market Research. The report “Konjac Market Share, Size, Trends, Industry Analysis Report, By Nature (Gum, Flour, Dietary Fiber, Sponge); By End Use Industry (Food & Beverages, Pharmaceutical, Cosmetics); By Distribution Channel; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Konjac is the primary root grown in the Asian region. It is well known for its starchy corm, a stem component that looks like a tuber that grows underground. Glucomannan, a valuable source of soluble dietary fiber, is produced from the corm. It is traditionally used in medical formulations and is also used in the food industry to produce noodles and snacks. The Konjac Sponge Company claims that it has been used as a food, beverage, and beauty product for more than 1,500 years. In addition to being marketed as a dietary supplement, it is also utilized as an emulsifier and thickener in food. Its ability to absorb liquid is fueling its use in weight-reduction supplements.
According to a recent Life Extension customer study of 3,356 men and women, 30 percent of respondents said they consume fiber at every meal, and nearly half (49%) said they consume it at least once a day. However, more than two-thirds (67%) claimed they do not get enough fibre daily, as recommended by the US Department of Agriculture. This demonstrates the need for healthy fibers, which can be provided by the consumption of konjac by consumers.
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Growing sales of konjac products have increased significantly in recent years, and there is significant room for market expansion. Over 85% of Yizhi’s income in the first half of 2022 came from its principal product, konjac powder. According to its offering prospectus, foods made from konjac contributed 12 percent of company revenue, while cosmetics only accounted for 2.2 percent. The restricted number of goods that can be produced using konjac, a root vegetable like a potato that is used to produce foods that are highly nutritious and low in calories, has also boosted competition by attracting various companies to this promising industry.
Konjac Market Report Highlights
- Dietary Fiber segment is anticipated to witness the highest growth in the coming years due to the ongoing deficiency of fiber.
- Food & Beverages segment accounted for the largest market share owing to the prevalence of konjac in food items like pasta and snacks.
- Online segment is projected to experience a larger revenue share due to the ongoing distributors efforts to create personalized consumer baskets with discounts.
- APAC is projected to register the largest growth rate in the study period owing to the ongoing research activities to increase its production.
- The global players include Baoji Konjac Chemical, IHerbs, Koyo Chemical, Matsutani Chemical Industry, Miracle Noodle & NAH Foods.
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Polaris Market Research has segmented the konjac market report based on nature, end use industry, distribution channel and region:
Konjac, Nature Outlook (Revenue – USD Billion, 2019 – 2032)
- Dietary Fiber
Konjac, End Use Industry Outlook (Revenue – USD Billion, 2019 – 2032)
- Food & Beverages
Konjac, Distribution Channel Outlook (Revenue – USD Billion, 2019 – 2032)
- Speciality Stores
- Online Channels
Konjac, Regional Outlook (Revenue – USD Billion, 2019 – 2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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