Konjac Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3861
Konjac Market size is expected to witness significant growth over the projected timespan owing to rising consumer consciousness, inclination towards healthy lifestyles and growing penetration of food supplements. Italy health supplement market was valued at over USD 2 billion in 2017 owing to increasing prevalence of autoimmune diseases and obesity. Konjac is widely used in manufacturing food supplements owing to its low calorific content, which takes up space in stomach & promotes satiety, further reducing fat absorption. The product’s characteristics such as regulation of lipid metabolism, reduction of cholesterol and lipid content in blood may stimulate market share.
Rising inclination of consumers towards digestive supplements owing to their health benefits in ameliorating digestive ailments such as constipation, heartburn, bloating & diarrhea, increasing healthcare costs, and growing geriatric population may foster konjac market share. In UK, there were over 13 million users of digestive problem products of which approximately 8 million were using it for heartburn or ingestion owing to increasing intake of alcohol and meat products. Konjac is widely used in manufacturing supplements to improve the quality of intestinal microflora and removes bulk of roughage mixed with impurities thus removing toxins from alcohol and red meat which may foster konjac market growth.
Increasing consumer inclination to try different cuisines and rise in busy schedules may increase market demand for noodles cakes made from Konjac. It has excellent binding properties and can be easily shaped into thick or thin noodle cakes. South Korean demand for instant noodles was valued at over 3.8 billion servings in 2018 owing to rise in young college going population as instant noodles are widely consumed in dorms due to quick preparation time. Noodles made from Konjac has very less calorific value compared to alternatives such as wheat and can be consumed by people with gluten allergies. Konjac noodle cakes are high in glucomannan content which helps in weight loss & regulation of blood sugar and insulin levels. Konjac noodles are compatible with fast food preparation methods suitable for both vegetarian and non-vegetarians, highly concentrated with fiber, low carbohydrate and fat content which may stimulate market demand.
North America konjac market size demand led by U.S., Canada, and Mexico should observe a significant market growth during projected period owing to increasing demand for high quality and organic ingredients in cosmetics. U.S. sales of natural care products grew by over 8.5% in 2016 owing to rising consumer awareness regarding harmful chemicals in cosmetics and their dermatological side effects such as acne, blackheads, cold sores, and scars. Konjac powder is majorly used in manufacturing a wide variety of cosmetic products such as shampoo, conditioners, lotions, face masks, and soaps owing to rich concentration of protein, lipids, vitamins such as A,B,C,D, & E, and fatty acids. It is also used in manufacturing face packs owing to its deep pore cleaning nature which may accelerate market share.
Europe driven by UK, France, Germany, and Italy konjac market may witness moderate growth during forecasted period. Rising demand for healthy bakery & confectionary products and increasing instances of gluten allergy may increase product demand. It can be utilized to manufacture low calorie pasta, jelly, and bread owing to its excellent binding properties and antioxidant characteristics. Konjac flour is a pure soluble non gluten fiber with low protein, sugar, starch, and fat content. In Italy, sale of gluten free pasta was valued at over USD 6 billion in 2018 owing to rising consumer preferences for natural & organic food products and increasing awareness of the harmful effects of daily gluten enriched diet. It is an odorless & natural product and contains about 10 times the viscosity level of cornstarch which makes it an effective alternative to thicken gravies and sauces for various food preparations such as pasta and non-vegetarian curry dishes which may accelerate market share.
Asia Pacific konjac market size demand led by India, Japan and China, may see a significant growth in the forecasted timeframe. Increasing consumption of meat products owing to rise in per capita income and changing consumer perception on protein intake for muscle bulk up which may foster product demand. In Japan, value of veal & beef meat was valued at over USD 11 billion in 2017 owing to increased demand for exotic red meat and high quality wagyu beef indigenous to Japan. Konjac feeds are widely used to maintain livestock health as it helps in regulating gut health which improves the quality of milk, eggs, and meat. Inclusion of konjac flour in ruminant diet improves the quality of microbiota, alleviates oxidative stress and improves insulin sensitivity which may foster market share.
Global konjac market share is consolidated as market consist of limited players. Companies such as FMC Corporation, Hubei Yizhi Konjac Biotechnology, Henan Xin Industry, The Konjac Sponge Company, Shanghai Brilliant Gum, and Shaanxi Jintai Konjac Industrial Development key players in this market and are engaged in research to diversify product portfolio to meet strict regulatory conditions in U.S. and European Union.
Konjac Market, By Product, 2014-2025 (Tons) (USD Million)
- Dietary fibers
- Konjac flour
Konjac Market, By Application, 2014-2025 (Tons) (USD Million)
- Cosmetics & personal care
- Food and beverage
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Now Foods
- FMC Corporation
- Won Long Konjac
- Hubei Yizhi Konjac Biotechnology
- Henan Xin Industry
- The Konjac Sponge Company
- Shanghai Brilliant Gum
- Shaanxi Jintai Konjac Industrial Development
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