PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421635
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421635
The global konjac market size is expected to reach USD 2.04 billion by 2032, according to a new study by Polaris Market Research. The report "Konjac Market Share, Size, Trends, Industry Analysis Report, By Nature (Gum, Flour, Dietary Fiber, Sponge); By End Use Industry (Food & Beverages, Pharmaceutical, Cosmetics); By Distribution Channel; By Region; Segment Forecast, 2024- 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Konjac is the primary root grown in the Asian region. It is well known for its starchy corm, a stem component that looks like a tuber that grows underground. Glucomannan, a valuable source of soluble dietary fiber, is produced from the corm. It is traditionally used in medical formulations and is also used in the food industry to produce noodles and snacks. The Konjac Sponge Company claims that it has been used as a food, beverage, and beauty product for more than 1,500 years. In addition to being marketed as a dietary supplement, it is also utilized as an emulsifier and thickener in food. Its ability to absorb liquid is fueling its use in weight-reduction supplements.
According to a recent Life Extension customer study of 3,356 men and women, 30 percent of respondents said they consume fiber at every meal, and nearly half (49%) said they consume it at least once a day. However, more than two-thirds (67%) claimed they do not get enough fibre daily, as recommended by the US Department of Agriculture. This demonstrates the need for healthy fibers, which can be provided by the consumption of konjac by consumers.
Growing sales of konjac products have increased significantly in recent years, and there is significant room for market expansion. Over 85% of Yizhi's income in the first half of 2022 came from its principal product, konjac powder. According to its offering prospectus, foods made from konjac contributed 12 percent of company revenue, while cosmetics only accounted for 2.2 percent. The restricted number of goods that can be produced using konjac, a root vegetable like a potato that is used to produce foods that are highly nutritious and low in calories, has also boosted competition by attracting various companies to this promising industry.
Polaris Market Research has segmented the konjac market report based on nature, end use industry, distribution channel and region: