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Konjac Market is to grow at 7.2 Percentage CAGR, with Europe leading the market through 2030
Konjac Market
The Konjac Market size was valued at USD 1.25 Billion in 2023 and the total Konjac Market size is expected to grow at a CAGR of 7.2% from 2024 to 2030, reaching nearly USD 2.03 Billion in 2030. Konjac, a root vegetable cultivated in Asia, is commonly known as elephant yam. Konjac, rich in glucomannan, aligns with these health objectives, boosting its popularity, it is a soluble fiber that promotes intestinal health and weight management and is found in rice, konjac noodles, and dietary supplements. Incorporating Konjac-based items into everyday meals is becoming increasingly popular as Asian cuisine gains popularity worldwide. the U.S. Konjac market was valued at approximately $321 million in 2020.
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Konjac Market Segmentation
By Product Type: Konjac flour holds the largest market share, at about 44.7%. Konjac flour is composed of glucomannan, a soluble fiber that promotes weight loss. Konjac Sponge: Native to East Asia, the Konjac plant has a high fiber content that, when processed, turns it into a sponge. Konjac Gum is used particularly in the food, pharmaceutical, and cosmetic industries as a thickening, gelling, and stabilizing agent.
By Distribution Channel: The online retail channels Amazon, eBay, health-related retailers, and brand-specific websites where customers may buy items made from Konjac. Supermarket and Hypermarket chains including Walmart, Costco, and Target have a large stock of Konjac noodles, flour, and gum. Pharmacies also carry nutritional supplements containing Konjac including CVS, Walgreens, and Rite Aid.
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Konjac Market Regional Analysis
The United States shows a steady growth in the Konjac Market. Align with modern dietary trends the consumer shift towards healthier food options that are low-calorie, gluten-free, and vegan is rapidly growing in the US. Supplements based on konjac, including glucomannan, holds about 15-25% of the market, which reflects growing interest in digestive health and weight reduction.
In Germany, as more people adopt dietary habits, there is a sizable increase in the market for vegan and gluten-free goods. German consumers are renowned for being ecologically sensitive and favouring sustainable, green items. The Konjac market in Germany was valued at approximately €80 million in 2023.
China is a major player in the Konjac Market because of its long history of utilizing Konjac products for a variety of food, medicine, and health applications. For generations, konjac has been utilized in traditional Chinese medicine. The Konjac market in China was valued at approximately CNY 3.5 billion in 2023.
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Konjac Market Competitive Landscape
Vita Coco in 2018 acquired Runa, a natural energy drink. Also acquired Sipp an Organic sparkling beverage company in 2020. In 2022, Vita Coco acquired Coconut Collaborative, a producer of coconut-based dairy alternatives.
Green Giant (General Mills) acquired Annie's Inc. for approximately $820 million in 2014. In 2006 General Mills acquired Gardetto's. In 2001, By acquiring Pillsbury, General Mills combined the two companies and increased the variety of food items in its line.
Konjac Foods the possible mergers or acquisitions, Konjac Foods may look to enter into joint ventures or strategic alliances. These collaborations are often less publicized as they may impact on the market position of the company.
Conclusion
Healthy, natural, and functional foods are becoming more and more popular among consumers, which is ideal given the advantages of konjac root for digestion and weight control.
The demand for plant-based meals and healthier substitutes is rising in the North American and European markets.
Despite the numerous health advantages of Konjac products, suppliers and manufacturers may face difficulties because to high production costs and scarce raw ingredients.
For additional reports on related topics, visit our website:
♦ Super Foods Market https://www.maximizemarketresearch.com/market-report/global-super-foods-market/97319/
♦ Dairy Product Market https://www.maximizemarketresearch.com/market-report/global-dairy-product-market/26811/
♦ Food Enzymes Market https://www.maximizemarketresearch.com/market-report/global-food-enzymes-market/30517/
♦ Global Frozen Yogurt Market https://www.maximizemarketresearch.com/market-report/frozen-yogurt-market/122850/
♦ Olive Oil Market https://www.maximizemarketresearch.com/market-report/global-olive-oil-market/27227/
♦ Essential Oils Market https://www.maximizemarketresearch.com/market-report/global-essential-oils-market/657/
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