Konjac Market

Konjac Market Size:

The global konjac market size reached US$ 1.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.1% during 2024-2032. The increasing demand for clean label and natural ingredients, the rising focus on weight management and digestive health, the shift towards plant-based diets, and the growing influence of social media and digital marketing in promoting sustainable and eco-friendly practices are some of the factors propelling the market.

Konjac Market Analysis:

• Major Market Drivers: The increasing consumer awareness about the health benefits of konjac, the growing preference for natural and organic food products, the shift towards vegetarian and vegan diets, and the rising government regulations promoting the use of konjac in food products are some of the major market drivers.
• Key Market Trends: The development of new konjac-based products, the increasing online sales of konjac products, the rising incorporation of konjac in functional foods and dietary supplements, and the growing trend towards the use of eco-friendly and sustainable packaging for konjac products are some of the key market trends.
• Geographical Trends: Asia Pacific holds the largest konjac market share due to the high consumption of konjac in countries like China, Japan, and South Korea. The rising health consciousness, the growing vegan population, the increasing demand for low-calorie and gluten-free food products, and the escalating demand for konjac in emerging markets further drive this trend.
• Competitive Landscape: Some of the key market players include Andi-Johnson Group, Baoji Konjac Chemcial Co. Ltd., Ishibashiya Co. Ltd., Kalys SA, NOW Foods, Slendier, and The Konjac Sponge Company.
• Challenges and Opportunities: The supply chain issues, the regulatory hurdles, and the limited awareness about konjac in certain regions pose a challenge to market growth. The opportunities lie in market expansion, product diversification, increasing health and wellness trends, and rising sustainability initiatives.
   

Konjac Market Trends:

Increasing product demand in the food and beverage industry

The increasing demand for konjac in the food and beverage industry is propelling the market. The rising usage of the product as a thickener, ingredient, and additive in the food and beverage industry is one of the key factors stimulating market growth over the forecast period. The growing demand for thickening, gelling, and stabilizing agents is further expected to bolster the market growth over the coming years. Konjac is also used in reducing cholesterol levels and obesity risks due to its fat-reducing properties, thereby propelling the konjac market revenue. The development of health functions in konjac foods has resulted in high demand for konjac flour in healthy foods and food additives, which is projected to drive market expansion in the coming years.

Rising demand for Clean Label and Natural Ingredients

The global market has experienced a demand expansion for clean label and natural ingredients. Increasingly, customers want easily readable and transparent product labels that are not contaminated by artificial additives and chemical substances. Konjac's origin from nature and its versatile qualities make it ideal for use in clean label products, thereby promoting the konjac market growth. It is also an excellent substitute to synthetic additives as it can improve the texture, viscosity, and stability of various food items. The clean label trend goes beyond the food industry into personal care and cosmetics where there is an increasing demand for natural ingredients too. Such derived chemicals as glucomannan which have gentle properties are included in many skin care preparations as they are nourishing. The emerging preference towards clean label and natural ingredients will significantly increase product sales across sectors, thereby catalyzing the konjac demand.

Rising awareness regarding the health benefits offered by the product

The rising awareness among consumers regarding the health benefits offered by the konjac is positively influencing the market. Consumers nowadays are very concerned about their health, and as a result, they are very selective about the foods they consume. Konjac fibers have long been utilized as traditional medicine in the APAC region. Konjac food products such as flour, pasta, noodles, fruit jelly, and others have numerous health benefits, including diabetes management, weight loss, cholesterol control, constipation, detoxification, cough, and acne. This, in turn, is creating a positive konjac market outlook. The demand for Konjac products is also increasing due to its prebiotic characteristics, which aid in the improvement of intestinal functioning, integrity, and immunity. Apart from its health benefits, konjac has thickening, stabilizing, food gelation, and emulsifying capabilities.

Konjac Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, end use industry, and distribution channel.

Breakup by Product Type:

• Gum
• Flour
• Dietary Fiber
• Sponge
   

Flour dominates the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes gum, flour, dietary fiber, and sponge. According to the report, flour represented the largest segment.

According to the konjac market forecast, konjac flour is expected to witness strong growth due to its increasing application in the food & beverages and pharmaceutical industries. The development of health functions in konjac foods has resulted in high demand for konjac flour from healthy foods, pharmaceuticals, food additives, and pet feeds in European and North American countries, which is likely to drive market expansion over the next few years. Konjac flour is witnessing high demand due to its gluten-free nature and high fiber content, which is expanding the konjac industry. The flour is used to replace regular wheat flour in gluten-free baking, providing structure, moisture retention, and superior texture in gluten-free bread, cakes, and pastries.

Breakup by End Use Industry:

• Food and Beverages
• Pharmaceutical
• Cosmetics
   

Food and beverages hold the largest share in the market

A detailed breakup and analysis of the market based on the end use industry have also been provided in the report. This includes food and beverages, pharmaceutical, and cosmetics. According to the report, food and beverages accounted for the largest market share.

According to the konjac market report, the food and beverage industry is one of the major end-use industries of the Konjac market over the past few years and this trend is expected to continue over the next coming years due to its widespread application in the food and beverage industry as a thickener, additive, and food ingredient. Increasing demand for thickening, gelling, and stabilizing agents in the food and beverage industry is propelling the product demand. Konjac is also used to make low-calorie desserts, vegan meat alternatives, and gluten-free pasta, which is an important part of the konjac market overview.

Breakup by Distribution Channel:

• Supermarket and Hypermarket
• Specialty Stores
• Online Channels
• Others
   

Supermarket and hypermarket hold the maximum share in the market

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarket and hypermarket, specialty stores, online channels, and others. According to the report, supermarket and hypermarket accounted for the largest market share.

Based on distribution channels, supermarket and hypermarket have the largest market share, thereby offering various konjac market recent opportunities. Supermarkets and hypermarkets operate as one-stop shops for customers. Customers can choose from a selection of in-store options while being assisted by salespeople. This facilitation is predicted to increase store preferences in the coming months. Another reason why consumers prefer to buy products in stores is they are perishable. Furthermore, the strong presence of known brands, as well as the capacity to compare and select from various possibilities, helps drive the segment's growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest konjac market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for konjac.

Asia Pacific is the dominant region in terms of konjac market recent developments. Japan is dominating in terms of high demand for konjac due to its inclusion in the traditional diet. This market is expected to witness an increase in demand for konjac in the food industry in the upcoming years. Innovation in food products and additives is also expected to contribute to the increasing market share of konjac in Asia Pacific during the forecast period. Moreover, the presence of many pharmaceutical and cosmetic companies in the region supports the demand for konjac in these sectors.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Andi-Johnson Group
• Baoji Konjac Chemcial Co. Ltd.
• Ishibashiya Co. Ltd.
• Kalys SA
• NOW Foods
• Slendier
• The Konjac Sponge Company
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

The major konjac companies are investing in research and development activities to explore new applications and product formulations. They are developing innovative byproducts that cater to the changing consumer preferences and trends. For instance, NOW launched NOW Kids + NOW Baby Clean Care. This brand will be available DTC and at select retailers nationwide. It offers quality supplements, toothpastes, and body care products that are formulated with clean and functional ingredients. The players are also establishing production facilities, distribution networks, and sales channels in emerging markets. They are forging strategic alliances with suppliers, distributors, retailers, and other industry stakeholders to enhance their market penetration and distribution capabilities. Furthermore, the major players are investing in marketing campaigns, advertising, and digital marketing to educate consumers about the product’s benefits and uses, leveraging social media platforms, influencers, and online content.

Konjac Market News:

• August 24, 2023: NOW Foods, the largest independent and family-owned manufacturer of natural products in the U.S. health food store channel, announced that its newest manufacturing facility has been awarded LEED Silver certification.
• June 03, 2024: Kalys SA announced the launch of its new website, featuring a revamped logo and updated graphic charter, enhancing user experience and showcasing the latest projects and services.

Konjac Market Report Scope:

Key Questions Answered in This Report:

• How has the global konjac market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global konjac market?
• What is the impact of each driver, restraint, and opportunity on the global konjac market?
• What are the key regional markets?
• Which countries represent the most attractive konjac market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the konjac market?
• What is the breakup of the market based on the end use industry?
• Which is the most attractive end use industry in the konjac market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the konjac market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global konjac market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the konjac market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global konjac market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the konjac industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.