Konjac Market Size, Share, Industry, Forecast and outlook (2024-2031)

Konjac Market Overview

The Global Konjac Market reached USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 7.1% during the forecast period (2023-2030). Konjac is a root vegetable that has an unusual potato-like appearance.

Glucomannan, a soluble fiber, is found in the plant's bulb, which is its underground portion. A gel-like substance is created when soluble fiber absorbs water, preventing digestion. It can help lower blood cholesterol and glucose levels. 

Konjac Market Scope and Summary

Konjac Market Dynamics and Trends

Increased Consumer Awareness of Konjac Foods With Health Benefits

Healthy eating options have increased as a result of consumer concern for their health. The digestive system is improved by the konjac's ability to absorb a significant amount of water and help remove harmful chemicals. The fact that konjac is a nutrient-dense food with few calories and no fat-raising effects is another advantage of eating it. 

Due to increased consumption of fast food and sedentary lifestyles, gastrointestinal disorders and obesity are becoming more common, which has increased consumer awareness. The Konjac industry is expanding as a result of this increased consumer awareness. 

According to the World Health Organization (WHO), more than 1.9 billion persons aged 18 years and above were overweight in 2016. Konjac is used as a laxative, which aids in the evacuation of toxins from the colon and so aids in weight loss. This has increased the acceptance of konjac-based weight reduction pills, fueling the konjac market growth in further supplements segments.

Increasing Demand for Dietary Supplements Drives the Market

The elements that contribute to the market's expansion include the rise in demand for dietary supplements. All of the necessary fibers are present in konjac, which aids in the removal of toxins and suppresses hunger. 

Due to the consumers' decreased appetite, the konjac market is in higher demand. One of the main reasons for the rise in the use of konjac as a supplement for weight loss is also the rising demand for weight loss, which also serves to support the market's expansion. 

The High Cost of Konjac Products is Hampering the Market Growth

The high cost of konjac products has an impact on penetration among consumers, despite the fact that probiotic properties encourage consumers to include it in their diets. Affecting the margin profit of businesses in the forecast period is likely to be the increase in product prices, which are a result of rising production costs. On account of this, market growth is expected to restrain the market in the forecasting period.

Konjac Market Segment Analysis

The global konjac market is segmented based on form, application and region.

Increasing Demand for Konjac Flour with Wide Consumption in Food and Pharmaceutical Industries

In 2020, the flour segment accounted for the largest share of the global konjac market. The food and pharmaceutical industries both use konjac flour for a variety of purposes. It has exceptional water-binding binding abilities, a longer shelf life, the capacity to prevent syneresis, and the capacity to slow crystal growth, among other special qualities. The expansion of Konjac flour's application breadth in the food and beverage and pharmaceutical industries is expected to cause its demand to rise rapidly during the forecast period.

Source: DataM Intelligence Analysis (2023)

Konjac Market Geographical Penetration

Increasing Demand for Konjac Foods it Became a Daily Staple Among Consumers in Asia-Pacific

The Asia Pacific region is anticipated to contribute significantly to the increase in market share. Due to Konjac foods being a common daily staple in Japan, there will be a strong demand for them there in particular. 

Konjac plants are currently primarily grown in APAC regions, providing lucrative opportunities for business enterprises. Konjac chips are highly sought after in many countries, including China. The konjac facilities in these countries would be used to dry and grind the chips. 

Numerous uses exist for konjac powder, also referred to as glucomannan powder. Some countries have the ability to export konjac chips abroad. One of the top suppliers of konjac chips in Indonesia. The high quality of this country's chips suggests that it could produce excellent glucomannan powder.

Source: DataM Intelligence Analysis (2023)

Konjac Companies and Competitive Landscape

The major global players are Hubei Yizhi Konjac Biotechnology Co., Ltd, Zeroodle, Miracle Noodle, NAH Foods, IHerbs, Slendier, Shanghai Brilliant Gum Co. Ltd, Henan Xin Industry Co. Ltd., Baoji Konjac Chemical Co., Ltd., and NOW Foods.

Key Developments

• On January 1st, 2021, Tsutomu Foods Co., Ltd. Introduced its products, SoyNyack Gluten-Free Konjac Noodles Containing Soybeans, to the United States. In Gunma Prefecture, which is the Konjac production region, the product was meticulously made using the traditional method. For a wide range of consumers, the Soybean Konjac Noodles are simple to prepare, delectable, and healthy. 
• On September 14, 2022, CJ CheilJedang expanded its instant rice line by launching two new Hetbahn Konjac Rice products: Konjac Rice with Brown and Oat Rice and Konjac Rice with Oat and Black Rice. Hetbahn’s Konjac Rice products are made with a combination of konjac, brown rice, oats, and black rice. They have the texture, flavor, and nutritional value of konjac as well as a well-balanced mixture of every type of grain.
• On January 14, 2022, Growthwell Foods introduced its brand HAPPIEE. This plant-based line, with the tagline "Eat Good, Feel Good," aims to inspire people to adopt active lifestyles and spread positivity to the world. The range consists of four items. The HAPPIEE! Plant-Based Chickiee Nuggets and HAPPIEE! Soy is used to making Plant-Based Chickiee Popcorn. The fish options include HAPPIEE! Plant-Based Fishiee Sticks and HAPPIEE! Plant-Based Fishiee Patties, both of which are made from konjac. 

Why Purchase the Report?

• To visualize the global konjac market segmentation based on form, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of konjac market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global konjac market report would provide approximately 53 tables, 52 figures and 105 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies