Konjac Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Konjac Market: Overview
Konjac market has gathered momentum on the back of keto lifestyle and low-carb diet. Consumers have been attracted by its nutritional value. A growing body of research has been focused on evaluating its effect lowering blood cholesterol levels. In various parts of the world, the Konjac market continue to intrigue populations, due to its interventional value in managing gut health and preventing constipation. In most countries, konjac is being adopted as thickener in various recipes, such as in Asia. The overall growing acceptance of its flavor has also propelled the demand in the konjac market. In developed regions of North America and Europe, konjac flour has gathered some steam. Apart from this, key product types in the konjac market are konjac powder, gum, flour, and dietary fiber.
The report provides a comprehensive and in-depth assessment of the opportunities and the factors driving these prospects in the global konjac market. Further, the study offers insights into what constitutes key trends influencing the demand in various end-use industries such as pharmaceutical and food and beverages. Another key application area is in agriculture.
Konjac Market: Competitive Landscape and Recent Developments
Several players in the konjac market are pinning hopes on prebiotic properties to spur sales in various regions. Several of them are also trying to enter the dietary fiber segment with new flavors of konjac, after it has been approved by the Food and Drug Administration (FDA) to be generally recognized as safe (GRAS). Companies who want to earn a steady revenue stream in the konjac market, contend experts, should back their therapeutic claims through clinical studies. Top players are focusing on increasing the shelf life of konjac when used in food and beverages and biopharmaceuticals industry.
Some of the well-entrenched players trying relentlessly to tap into lucrative avenues in the konjac market are Shaanxi Jintai Konjac Industrial Development Co., Ltd, The Konjac Sponge Company, Hubei Yizhi Konjac Biotechnology Co. Ltd., Henan Xin Industry Co. Ltd., Shanghai Brilliant Gum Co. Ltd., and FMC Corporation.
Konjac Market: Growth Dynamics
The global konjac market has made strides on the back of its vast purported therapeutic benefits, propelling its use as ingredient or additive in pharmaceutical, food, beverages, and biopharmaceutical industries. Konjac has gained popularity due to its numerous physiological benefits. In recent slew of studies, interested stakeholders in the konjac market pin their hopes on its effect on modifying intestinal microbial metabolism. Rising usage as a stabilizer and thickener in biopharmaceuticals, chemicals, and food applications has reinforced the growth prospects of the konjac market.
Of all the industries, pharmaceutical has emerged as remarkable promising, and researchers around the world are optimistic about the role of konjac as one of the superfoods. However, increasing prices has led to the reduction of demand. It has dampened the demand in cost-sensitive markets. Research on the role of konjac on human health is boosting the market’s prospects. Growing range of dietary fiber ingredients is also fueling new avenues in the konjac market.
Konjac Market: Regional Outlook
On the regional front, Asia Pacific is emerging as lucrative market over recent years. This is due to the growing demand for plant-based functional additives in managing various health conditions. Meanwhile, North America and Europe have seen sizable revenue contributions. A large part of the growth has come from the uptake in the food and beverages industry. Key players are trying to tap into the potential of konjac as an additive in pharmaceutical in all top revenue generating regions.
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