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Global Konjac Market Expected to Reach USD 3,771 Million by 2027


Global Konjac Market

iCrowdNewswire   Jan 12, 2021  11:00 AM ET

Global Konjac Market Summary

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Konjac Market by Product Types, By Functions, By Applications and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 2,069 Million in 2019 and is expected to grow at a growth rate of 8.3% by the year 2027. The global Konjac market is anticipated to grow owing to surge in the rise in demand for nutritional foods, which contributes for the growth of the market. The rising adoption of new cuisines has led to the rise in demand for the konjac based products, thereby boosting the growth of the market.

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The global konjac market is fragmented based on product types, by functions, by applications and region. Based on product types, the konjac market is segmented into konjac flour, dietary fibers, gum and gels, and others. Based on functions, the konjac market is segmented into gelling agents, thickener, film former, emulsifier, stabilizer and others. Based on application, the market is classified as food products, pharmaceuticals, chemicals, and others. Based on region, the global konjac market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as US, and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).

In the year 2020, the konjac market is expected to witness the sluggish growth due to COVID 19 pandemic. In year 2020, The market is expected to grow at year-on-year growth rate of 4.1% between 2019 and 2020 owing to Covid-19 situation and slowdown in the economic activities. The shutdown of production activities, restrictions on transportation activities, are some of the prime reasons responsible for this market trend. However, the market is expected to grow at a slow pace in future. Increase in manufacturing and processing companies along with increasing demand for dietary supplements and low-calorie food products around the world boosts the demand for the product.

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As per GMR industry analyst Akshay Udavant and Akshata Ahire, “The Global Konjac market is anticipated to witness significant growth during forecast period 2020-2027 driven by driven by growth of the e-commerce industry which provides opportunities for the local players to expand their presence through the warehouses and distribution facilities globally, which has resulted in a significant increase in the demand for konjac in the food industry. Moreover, the growth of the retail store and supermarket chains is creating opportunities for local players in the market.”.

Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

USD 2,069 Million

Market Growth Rate (from 2021 to 2027)

8.3%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (US$ Million)

Market Segments

By Products, By Functions, By Applications

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

US., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, Australia, South East Asia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

Aunutra Industries Inc., Baoji Konjac Chemical Co., Ltd, BLG, Henan Xin Industry Co. Ltd., Hubei Yizhi Konjac Biotechnology Co., Ltd, Konjac Innov (NAH Foods), Miracle Noodle, NOW Foods, The Konjac Sponge Company, Xi’an Yuensun Biological Technology Co., Ltd., and Zeroodle

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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