Latest News - Konjac Market: Food and beverages is expected to lead the End-user segment during 2024-2028

The Konjac Market is being driven by Increasing consumption of low-calorie food

The Konjac Market is expected to grow at a CAGR of 8.52% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 454.2 million. The global food industry has been adversely impacted by the COVID-19 pandemic, with trade restrictions, border closures, and confinement measures hindering farmers' ability to procure essential inputs and sell their produce. This disruption to international and domestic food supply chains has resulted in decreased access to a wide range of nutritious food options. The pandemic poses a heightened risk to overweight adults, who are more susceptible to hospitalization and severe illness. In response, many individuals are turning to dietary supplements as a means to manage their weight and mitigate these risks. The Konjac market, which specializes in the production and distribution of Konjac, a natural dietary fiber, is experiencing increased demand due to its proven weight loss benefits. This trend is expected to continue as consumers prioritize their health and wellness during these challenging times. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Food and beverages
  • Pharmaceutical
  • Cosmetics
• Product Type
  • Gum
  • Flour
  • Dietary fiber
  • Sponge
• Application
  • Konjac Root
  • Konjac Flour
  • Konjac Noodles
  • Konjac Supplements
• Consumer Segment
  • Health-Conscious Consumers
  • Vegans
  • Gluten-Free Diets
• Geography
  • North America
    • US
    • Canada
    • Mexico
  • APAC
    • Indonesia
    • Malaysia
    • South Korea
    • Thailand
  • Europe
    • France
    • Germany
    • UK
  • South America
    • Brazil
  • Middle East and Africa
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing consumption of low-calorie food
• Increasing usage of konjac sponges in cosmetic sector to meet demand for natural-products
• Increasing usage of animal-feed additives

However, the market also witnesses some limitations, which are as follows:

• Side effects on human health
• Rise in cost of konjac
• Usage prone to worsen health in case of an individual having medical conditions

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Market Scope in Konjac Market Research Report

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Research Analysis Overview

Amorphophallus konjac, also known as the elephant yam or konjac, is a root vegetable widely used in various industries due to its unique properties. The primary components of Amorphophallus konjac are soluble dietary fiber, specifically glucomannan. This fiber is widely used as an emulsifier, thickener, and stabilizer in various industries. In the culinary world, konjac is used to make snacks, noodles, and beverages. It is a gluten-free and low-calorie alternative to traditional starches. In the dietary supplement industry, konjac is used as a weight reduction supplement due to its ability to absorb water and expand in the stomach, making consumers feel full for longer periods. In the cosmetic industry, konjac is used in skincare products for its hydrating and smoothing properties. It is also used in medical formulations for treating digestive issues and diabetes. Konjac is often compared to psyllium, carrots, citrus fruits, apples, beans, oats, and other soluble fiber sources. However, its unique properties make it a popular choice for various applications. The flour segment of the konjac market is expected to grow significantly due to its versatility and health benefits. Konjac flour can be used as a replacement for wheat flour in various food applications, making it an attractive option for those with dietary restrictions. Overall, the konjac market is expected to grow significantly in the coming years due to its diverse applications and health benefits.

Market Research Overview

The global packaged foods and meats market encompasses vendors engaged in food processing to eliminate microorganisms and enhance shelf life. According to Technavio, the market's size is determined by the consolidated revenue generated by participating vendors, excluding those manufacturing food processing equipment. Notably, this market does not encompass producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Factors driving the market's growth include the health benefits associated with minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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