The konjac flour market is set to be valued at US$ 1,322.0 million in 2024 and is expected to reach US$ 1,683.0 million by 2034 due to increased consumer awareness of its health benefits. Manufacturers are exploring innovative product formulations and leveraging konjac’s versatility across various segments, resulting in a slow-paced CAGR of 2.4% from 2024 to 2034.
Konjac, a natural laxative, is gaining popularity as a weight-loss aid due to its water-absorbing and detoxifying properties. Brands like Knojac offer guilt-free indulgence, reducing appetites and quelling hunger. Consumers are shifting to healthier alternatives, with manufacturers focusing on producing healthy food that offers guilt-free indulgence without compromising taste.
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Konjac flour is emerging as a star player in the flour aisle, offering sustainable, cruelty-free credentials and adaptable solutions for baking and dietary preferences. It is revolutionizing culinary creations and driving industrialists to invest in research and development for various products.
The market growth is driven by the increasing number of obese individuals in the United States, with adults using dietary supplements at 57.6%. The aging population in North America and the demand for dietary supplements in the European population contribute to market growth. Unexploited market opportunities in Asia Pacific countries are also strengthening regional market expansion.
“The konjac flour market is experiencing growth due to health consciousness, regulatory approvals, and demand from the food and beverage industry. Despite high costs, technological advancements in the production process are expected to make konjac flour more affordable. The future of the konjac flour market is promising, with substantial growth expected in the coming years.” – Says an analyst at FMI.
Key Takeaways of Konjac Flour Market
- The konjac flour market in the United States is expected to experience a 5.9% CAGR through 2034 due to the growing demand for natural and nutritious food ingredients.
- Germany is experiencing a fiber-fueled renaissance, with konjac flour set to revolutionize the market by aiding weight loss and lowering cholesterol, registering a 4.2% CAGR.
- China is promoting the export of konjac flour, with a predicted 4.0% CAGR through 2034.
- Japan’s market is also set to progress at 4.0% due to its traditional use and the popularity of shirataki noodles.
- India’s konjac flour market is projected to rise at 4.3% through 2034 due to its health benefits and potential for weight management.
Competitive Landscape
The konjac flour market is highly competitive, with major players driving profitability and expanding their distribution networks. Manufacturers are focusing on research and development to unlock the full potential of konjac flour while also introducing new product ranges to ensure global adoption. The market is evolving, with emerging segments like sugar-free, vegan, and gluten-free products gaining prominence. Ready-to-use konjac shakes are a promising development, revolutionizing consumer choices and meal replacements.
Latest Development
- MoYu introduced a “Better for You” baked goods application in 2023, featuring a konjac-based mix for a healthier, low-calorie alternative to traditional treats. This eco-friendly approach reduces environmental impact and provides wholesome, nutritious products.
- Japanese food company Tsutomu has launched SoyNyack, a low-calorie Soybean Konjac Noodles with sesame dressing, in the US market. Tsutomu’s entry into the United States market is an important step for the company, which has a long history in the Japanese food industry.
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Key Segmentation
By Applications:
- Food & Beverages
- Agriculture
- The Medical & Pharmaceutical Industry
By Function:
- Gelling Agent
- Thickener
- Film Former
- Emulsifier
- Stabilizer
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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