Glucomannan Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1276
Glucomannan Market size is set to witness a substantial growth in the forecast period on the account of its extensive usage as a food additive and for thickening and blending. The product is a water soluble polymeric carbohydrate, measured as a dietary fiber.
The product is widely used as a weight management supplement making it a major driver for the global glucomannan market. Increasing occurrences of obesity and associated diseases throughout the world, especially in North America, will have a positive impact on the industry. According to a WHO study, more than 600 million adults throughout the world were suffering from obesity as of 2014 and it has more than doubled in the past 35 years. Increasing health awareness and prescription of obesity curing drugs will propel the overall glucomannan market in the coming years.
Glucomannan market demand is also driven by its use as a nutritional supplement for events such as type 2 diabetes, acne vulgaris, high cholesterol, and constipation. It helps in improving the blood sugar levels in people suffering from diabetes. Also, it helps in the bowel health issues and reducing the cholesterol levels. It is highly absorbent and absorbs huge amount of water and works in the stomach and intestines to form a large fiber for treating patients suffering from constipation. Due to these major uses the glucomannan market demand worldwide is expected to witness a robust growth over the estimated timespan.
The product is mainly used in the form of flour or powder with an excellent thickening property and is used in various canned meat products. The demand for such canned meat products is increasing in the market as it serves the convenience of the customers. Increasing busy schedule of dual income families and the ease of consuming canned food will augment the global glucomannan market growth.
Glucomannan market growth may face hindrance due to its high cost as it is made from the roots of the konjac plant. The product also has several health adversaries as sudden increase in the dosage amount may cause gastrointestinal side effects. Also, there has been several issues of choking and blockage of throat reported in the Canadian market due to excessive consumption before going to bed.
Global glucomannan market is classified on the basis of its application based on the use of glucomannan as a thickening and emulsifying agent in several food products. These include sweets such as jellies, gummies, chocolates, and candies; beverages such as soups, soft drinks and fiber drinks; bakery products such as sausages, canned meat products, cakes, ice creams, pastries, pancakes and breads; spreads such as cheese spreads, honey spreads and fruit spreads, pet foods and other frozen foods.
Glucomannan market can also be segmented on end user basis in weight management supplement for weight loss programs and curing obesity, and in pharmaceuticals for curing high diabetes, skin diseases, high cholesterol, etc. Prevalence of diabetes has risen to 8.5% in 2014 from 4.7% in 1980 and had an estimated death toll of 1.5 million in 2012. Growing demand for anti-diabetic medication to avoid the dismal consequences will propel the global glucomannan market in the estimated timespan.
The glucomannan market can be globally divided by primary regions which include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among all these regions, North America glucomannan market is most prominent, followed by the Asia Pacific region. High number of obese population in North America and their constant requirement for medication will bolster the regional industry in the next few years. Also, geographically varying risk factors of diabetes and high blood cholesterol level will increase the medication demand in Asia Pacific, where the risk is higher than other regions.
Some of the major players of the glucomannan market include multinational companies such as Green Fresh Group, FMC Biopolymer, Precision Nutrition Inc., TIC Gums Inc., Baoji Konjac Chemicals Company Ltd., Kowa India Pvt. Ltd., Greenutra Resource Inc., AuNutra Industries Inc. and Konjac Foods to name a few. These key competitors are expected to go through business expansions by widening their product portfolio with constant R&D activities to mitigate the adverse effects of the product.
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