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Konjac Market Size
Konjac market size is likely to grow substantially between 2024 and 2032, driven by the escalating utilization as a novel substrate for improving the stability and viability of probiotics. Glucomannan, a sugar made from konjac root, has been widely used as medicine. Powder, capsules, and tablets made from this plant root are consumed to treat constipation and type 2 diabetes and lower weight, cholesterol, and blood sugar levels, thus promoting industry demand.
Amorphophallus konjac flour is also gaining prominence as a thickener in gluten-free bread. In the cosmetic sector, konjac sponges are increasingly used to cater to the robust demand for nature-based products. Furthermore, the growing adoption of konjac powder as a gentle skin cleanser will contribute to the market growth in the foreseeable future.
Konjac Industry Trends
The major trends impelling the konjac industry outlook are increasing health-consciousness among consumers and rising consumption of low-calorie and carbohydrate products like shirataki noodles. According to credible reports, around two out of three U.S. adults are overweight or obese (69%), and one out of three is obese (36%). The focus on addressing the weight-related health issues will propel the market demand.
In recent years, the konjac industry has seen a significant increase in demand and usage across several important applications and end-use sectors. However, the Russia-Ukraine war, rising inflation, and increasing interest rates are predicted to cause the slow economic growth. Besides, the high cost of products and the presence of alternatives are expected to act as a significant barrier, negatively impacting the overall market potential.
Konjac Market Analysis
Based on product type, the flour segment is projected to hold a considerable market share from 2024 to 2032, impelled by the use in the food and medicinal industries. The product boasts of properties such as excellent water-binding capabilities, a longer shelf life, the ability to slow crystal development and inhibit syneresis.
The pharmaceutical segment is poised to hold a considerable valuation by 2032, attributed to the increasing use of konjac glucomannan in drug delivery and biomedical applications, alongside its potential to treat diabetes and obesity.
Asia Pacific konjac market will witness a notable growth trajectory through 2032, owing to the strong presence of konjac product exporters in the region, including Indonesia International Konjac. The growing popularity of Japanese foods like shirataki or konjac noodles, driven by a paradigm consumer shift toward healthy eating habits, which will further bolster the regional industry growth.
Konjac Market Share
Some of the leading companies involved in the konjac industry include;
- Henan Xinchun Food Industry
- Shaanxi Jintai Konjac Industrial Development
- Shanghai Brilliant Gum
- The Konjac Sponge Company
- Hubei Yizhi Konjac Biotechnology
- FMC Corporation.
These companies are focusing on varied strategies like innovative product launches and mergers & acquisitions to diversify their product portfolio and gain a competitive edge over rivals.
Konjac Industry News
- In 2022, FMC Corporation, an agricultural sciences company, announced the acquisition of BioPhero ApS, a Denmark-based pheromone research and production company.