Konjac Market To Hit $1.8B By 2030, Growing At A 7.1% CAGR

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Konjac Market

Rising demand for health-conscious food drives the Konjac market's impressive growth.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, August 28, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Konjac Market by Product Type, End Use Industry, and Distribution Channel: Global Opportunity Analysis and industry Forecast, 2021–2030,” The global konjac market was valued at $922.5 million in 2020, and is projected to reach $1,800.0 million by 2030, registering a CAGR of 7.1% The flour segment was the highest contributor to the market, with $475.1 million in 2020, and is estimated to reach $991.2 million by 2030, at a CAGR of 7.8% during the forecast period. The food & beverages segment was the highest contributor to the market, with $373.7 million in 2020, and is estimated to reach $723.2 million by 2030, at a CAGR of 7.0% during the forecast period. North America was the highest revenue contributor, accounting for $321.0 million in 2020, and is estimated to reach $621.0 million by 2030, with a CAGR of 7.0%.

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Asia-Pacific is estimated to reach $615.6 million by 2030, at a significant CAGR of 8.1%. North America and Asia-Pacific collectively accounted for around 66.0% share in 2020, with the former constituting around 34.8% share.

Konjac is a plant that comprises of a starchy root called corm that is high in glucomannan, a type of dietary fiber. The dried corm of the konjac plant contains around 40% glucomannan gum, which is used as a dietary supplement and in high-fiber flours and jellies. Konjac is high in fiber and low in calories and glutin, making it an excellent diet food. Because of its high thickening and emulsifying properties, konjac containing glucomannan is commonly used as a food additive in products such as fruit juices, jams, pasta, noodles, and others, as well as a nutritional supplement for preventing various health problems such as obesity, high cholesterol, constipation, diabetes, acne, and others.

Consumers nowadays are particularly concerned about their health and, as a result, are very selective about the food products they consume. Konjac fibers have been utilized as a traditional medicine in the APAC region for many years. Konjac food products, including Konjac flour, pasta, noodles, fruit jelly, and others, provide numerous health benefits, including diabetes management, weight loss, cholesterol control, constipation, detoxification, cough, and acne.

Konjac products are also becoming more popular because to their prebiotic characteristics, which aid in the improvement of intestinal functioning, integrity, and immune system. Konjac has thickening, stabilizing, food gelation, and emulsification capabilities in addition to its health advantages.

Konjac powder is frequently used as a vegan substitute for seafood. Konjac flour is predicted to rise rapidly over the forecast period due to its expanding application scope in the food and beverage and medicinal industries. Given these diverse features and benefits, Konjac's commercial potential is anticipated to be enormous.

💡Konjac: A Versatile and Health-Conscious Ingredient
Konjac is a starchy root vegetable native to Asia, particularly Japan, China, and parts of Southeast Asia. It's most widely recognized for its ability to produce glucomannan, a water-soluble dietary fiber, which has gained popularity for its numerous health benefits and its use in a variety of food products. The plant itself is often referred to by its scientific name, Amorphophallus konjac, or by other names like konnyaku in Japan. The konjac root has been used for centuries in traditional Asian cuisine and medicine but has recently gained global attention for its role in weight management, digestion, and low-calorie foods.

💡Nutritional and Health Benefits
Konjac's main claim to fame is its high content of glucomannan fiber. Glucomannan has a unique ability to absorb large amounts of water, forming a gel-like substance that can help create a feeling of fullness and slow digestion. This makes konjac-based products particularly popular among those looking to manage their weight or reduce their calorie intake. The fiber in konjac can also help regulate blood sugar levels, improve cholesterol profiles, and promote digestive health by encouraging regular bowel movements. Additionally, konjac is low in calories, fat-free, and gluten-free, making it suitable for a wide range of dietary needs.

💡Common Uses in Food
Konjac is most often processed into various forms of low-calorie, high-fiber foods. One of the most well-known products made from konjac is shirataki noodles, sometimes called "miracle noodles" due to their near-zero calorie content. These noodles have a gelatinous texture and are often used as a substitute for traditional pasta in low-carb or keto diets. Konjac is also used to make konnyaku, a firm, jelly-like food that is popular in Japan, typically found in stews, soups, or skewered and grilled. Another growing trend is the use of konjac as a gelatin substitute in vegan recipes, as its gelling properties are similar to that of animal-based gelatin.

💡Konjac in Weight Loss and Diet Programs
Given its ability to expand in the stomach and promote satiety, konjac is frequently included in weight loss supplements and meal replacement products. Glucomannan from konjac root is often sold in capsule or powder form and marketed as an appetite suppressant or fiber supplement. When taken before meals, it can help reduce overall calorie consumption by making individuals feel full faster. Studies have shown that glucomannan can contribute to modest weight loss when combined with a balanced diet and exercise, although it's important to consume it with plenty of water to prevent digestive issues.

💡Potential Health Risks and Considerations
While konjac is considered safe for most people, there are some potential health risks to be aware of. Since konjac absorbs water and expands, it can cause blockages in the throat or digestive tract if not consumed with enough liquid. This is particularly a concern with konjac capsules, which should always be taken with plenty of water. Additionally, some people may experience mild digestive issues like bloating or gas due to the high fiber content. In some countries, such as Australia, certain konjac-based jelly products have been banned due to choking hazards, especially for young children.

💡Konjac in Skincare and Beauty Products
Beyond its culinary uses, konjac has also found a place in the beauty and skincare industry. Konjac sponges, made from the root of the konjac plant, have gained popularity as a natural, biodegradable exfoliating tool. These sponges are gentle enough for daily use and can help cleanse and exfoliate the skin without irritation. They are often infused with additional ingredients like charcoal or green tea to enhance their skincare benefits. Many users appreciate konjac sponges for their eco-friendliness and ability to break down naturally after use.

💡Sustainability and Environmental Impact
Konjac is considered a sustainable crop, as it is relatively easy to grow and requires minimal resources compared to other carbohydrate sources like rice or wheat. The plant grows well in a variety of soils and climates, making it an efficient option for farmers in many parts of Asia. Its versatility as a food and non-food product adds to its sustainability profile, as different parts of the konjac plant can be utilized across industries. Moreover, konjac products, particularly in the form of noodles or sponges, have become an eco-friendly alternative to synthetic or more resource-intensive options.

💡Global Market Trends
In recent years, the global demand for konjac products has increased, driven largely by trends in health and wellness. Consumers looking for low-calorie, low-carb, and high-fiber foods have helped propel konjac into mainstream markets, with products like shirataki noodles appearing in major grocery chains around the world. Additionally, the rise of plant-based diets and veganism has increased interest in konjac as a meat or gelatin substitute. The growing awareness of the benefits of dietary fiber has also led to an uptick in konjac-based supplements and functional foods.

💡The Future of Konjac
As the demand for healthier, more sustainable food options continues to grow, konjac is likely to become even more prominent in both food and non-food markets. Ongoing research into the health benefits of glucomannan may unlock new applications, particularly in the areas of weight management and digestive health. Innovations in konjac processing and formulation could also lead to new products that appeal to a broader range of consumers. Given its versatility and health benefits, konjac is poised to be a staple ingredient in the wellness movement for years to come.

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For the sake of the analysis, the konjac market is segmented on the basis of product type, end use industry distribution channel, and region. By product type the market is classified into gum, flour, dietary fiber, and sponge. By end use industry, the market is categorized into food, pharmaceutical, and cosmetic. By distribution channel, the market is divided into hypermarkets/supermarkets, specialty stores, online channels, and others. By region, the market is studied across North America, Europe, Asia-Pacific and LAMEA.

Based on konjac market forecast by product type, the flour segment accounted for the highest share in 2020. Konjac flour has a variety of applications in the food and medicinal industries. It possesses unique properties such as a longer shelf life, excellent water binding capabilities, the ability to inhibit synerisis, and the ability to slow crystal development. Konjac flour is predicted to rise fast over the forecast period due to its expanding application breadth in the food & beverage and medicinal industries.

On the basis of end use industry food & beverages industry accounted for the largest portion of the konjac market share in 2020, and is pharmaceutical industry is expected to dominate the market throughout the forecast period. Because of specific qualities that provide health benefits such as strengthened immune system, pharmaceuticals have emerged as the most important end-use. Furthermore, significant support from regulatory authorities, such as the FDA, for the use of konjac in various foods and medications is projected to boost the market's growth prospects.

Depending on konjac market analysis by distribution channels, the hypermarkets/supermarkets segment accounted for the highest share in 2020. Hypermarkets/supermarkets provide consumers with the ease of shopping for a range of things under one roof. Customers benefit from hypermarkets/supermarkets by having access to a vast choice of products, product discounts, sales person assistance, and speedy checkouts. Advantages are projected to propel hypermarket/supermarket growth in the predicted term.

Region wise, Asia-Pacific was the fastest growing regional segment throughout forecast period, followed by Europe. North America hold the highest share in base year. China and the U.S. were the most prominent country accounting for a sizeable share in the global market.

📍Key Findings Of The Study

)))) On the basis of product type, the flour segment is projected to witness the highest CAGR of 7.8% in terms of revenue during the forecast period.
)))) Depending on end use industry, pharmaceutical segment is expected to dominate the market through 2021–2030.
)))) By distribution channel, the hypermarkets/supermarkets segment occupied the largest market with maximum value share in 2020, and online segment is expected to grow at the significant CAGR during the forecast period.
)))) U.S. is the largest country in terms of demand and production of konjac market in 2020.
)))) Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 8.9% from 2021 to 2030.

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Key players in the eucalyptus oil market have relied on product launch as their key strategic move to stay relevant in the global market. The key players in the eucalyptus oil industry profiled in the report are Hubei Yizhi Konjac Biotechnology Co. Ltd, Shanghai Brilliant Gum Co. Ltd, Ishibashiya Konjac Company, Baoji Konjac Chemical Co. Ltd., NOW Foods, Slendier, Andi-Johnson Group, The Konjac Sponge Company, NAH Foods Ltd, and Zeroodle

📝 About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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