Global Konjac Market: Snapshot
The global konjac market is poised to grow at stupendous pace during the forecast period of 2019 to 2028. Key factor driving the market growth is the increased demand for konjac from food and beverages sector. Konjac is an herb generally found in parts of Asia. It is also known as glucomannan. Owing to its wide range of features, konjac is gaining demand avenues from various end-user industries such as agriculture, food, and medical & pharmaceutical.
An upcoming research report from TMR on the global konjac market gives complete study of vital elements showing positive or negative impact on the growth of the market. At the same time, a dependable data on volume, shares, revenues, key players, and probable growth avenues in the konjac market is precisely covered in this report. Thus, the report works as a helpful guide to get all data and analysis on the global konjac market for the forecast period of 2019 to 2028.
The global konjac market is segmented on the basis of various key factors such as product type, end-use industry, and region.
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Global Konjac Market: Growth Dynamics
Konjac is gaining traction of major worldwide population owing to its different uses. It is widely used in the form of gum, powder, flour, and dietary fiber. Of them, konjac flour is witnessing remarkable demand from all across the world. Key reason for this stupendous demand is increasing use of konjac in the food and beverages industry as a thickener, ingredient, and additive. Thus, with growing requirement for thickening, gelling and stabilizing agents, the market for konjac will witness upward graph of sales in the upcoming period.
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Konjac is in high demand in the healthcare sector owing to its various health benefits. It is found to be efficient in decreasing cholesterol levels in humans. Konjac holds fat reducing properties. As a result, it is widely used to minimize the obesity risks. Thus, it is safe to say that the growing number of people living with obesity and other health issues will stimulate the growth of the global konjac market in the upcoming years.
Global Konjac Market: Competitive Analysis
The global konjac market is fairly fragmented in nature. Presence of gamut of players indicates that the competitive landscape of the market for konjac is extremely intense. Vendors working in konjac market are using various tactics to maintain the leading market position. Some of the important strategies in trend today are partnerships, mergers, acquisitions, and collaborations. Apart from this, many vendors are focused on rolling out innovative products. These moves are helping them to attract new customer base while maintaining the existing ones. All these activities denote that the global konjac market will expand at a stupendous rate during the forecast period of 2019 to 2028.
The list of key players in the global konjac market includes:
- FMC Corporation
- Shaanxi Jintai Konjac Industrial Development Co., Ltd
- Henan Xin Industry Co. Ltd.
- Shanghai Brilliant Gum Co. Ltd.
- The Konjac Sponge Company
- Hubei Yizhi Konjac Biotechnology Co. Ltd
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Global Konjac Market: Regional Assessment
The global konjac market is spread across five key regions, namely, North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, Asia Pacific is one of the prominent regions of the market for konjac. Key reason supporting this prominence is the rising demand for konjac from Japan. Thus, the konjac market is estimated to witness increased demand in the upcoming period owing to increased inclination of major population from Japan to eat konjac on daily basis. However, owing to high prices of the products, the demand for konjac gel food products is declined in recent period.