Global Konjac Flour Market: Overview

Also known as glucomannan, Konjac refers to an herb that is cultivated in some parts of Asia. Konjac is known for its starchy corn, which is a tuber-like part of its stem and it stays under the ground. The corn from konjac is utilized in the making of a rich source of soluble form of dietary fiber. It also finds use as a substitute for gelatin and to add or thicken texture to various food items. Such varied use is likely to work in favor of the global konjac flour market in the years to come.

Konjac comes with several health benefits, thanks to its high content of fiber. Soluble fiber assists in lowering the level of blood glucose and cholesterol levels. A diet that has plentiful of fiber could also assist in preventing diverticular disease, controlling the movements of bowel, and assist in the prevention of hemorrhoids. Fiber is quite a filling component and regular intake of fiber assists in keeping one’s stomach fuller for longer period of time. This prevents a person form over-eating or snacking between meals. Konjac is also able to expand inside the stomach, thus keeping one full. With the increased prevalence of obesity, the global konjac flour market is likely to observe considerable growth over the period of assessment.

There has been a rise in the demand for konjac in the form of an additive, ingredient, and a thickener in food and beverage industry, which is likely to drive the demand for konjac flour in the years to come. With the rise in demand for stabilizing, gelling, and thickening agents, the demand for konjac flour is further expected to rise in the near future. As konjac helps in reducing the level of cholesterol and risk of obesity, it expected to find increasing use across the globe in present times.

The global konjac flour market is likely to be not much affected by the outbreak of global pandemic, Covid-19. The demand for essential items, such as food, medicines has remained steady and with lockdown period, there has been a rise in incidences of over-eating and less of physical activities. This has resulted in gaining of weight, which is likely to generate more demand for konjac flour during this period.

Application, function, and region are the three important parameters based on which the global konjac flour market has been categorized. The sole aim of such segmentation is to offer a clearer and detailed view of the global konjac flour market.

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Global Konjac flour Market: Notable Developments

One of the developments that offer a glimpse of the market dynamics about the global konjac flour market is mentioned below:

  • In September 2019, NOW Foods made an acquisition of the family-owned business, SuperNutrition Supplement Company. The latter makes an offering of a unique brand of multi-vitamin supplements. With this acquisition, NOW Foods make a move toward their objective to expand their distribution network through successful international distributors across the globe.

Some of the prominent organizations in the global konjac flour market include the below-mentioned:

  • Hubei Yizhi Konjac Biotechnology
  • Shaanxi Jintai Konjac Industrial Development
  • Baoji Konjac Chemcial Co., Ltd
  • The Konjac Sponge Company
  • Henan Xin Industry Co. Ltd.
  • NOW Foods

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Global Konjac flour Market: Key Trends

The global konjac flour market is characterized by the presence of the following restraints, drivers, and opportunities.

Growing Use as Food Supplements to Pave Way for Rapid Market Growth

Konjac is extensively utilized in the making of food supplements due to its low content of calorie, which fills stomach and encourages satiety, thereby further diminishing the absorption of fat in the body. Konjac comes with other properties such as diminishing the content of lipid and cholesterol in the blood and it also helps in controlling lipid metabolism. All these benefits of konjac is estimated to drive the growth of the global konjac flour market in the near future.

Growing tendency of consumers toward taking various types of digestive supplements due to their ability to ameliorate various digestive ailments such as bloating and diarrhea, heartburn, and constipation is likely to boost the growth of the global konjac flour market in the near future. Besides, growing geriatric population together with rising cost of healthcare is estimated to drive the demand for konjac flour in the years to come.

Global Konjac Flour Market: Geographical Analysis

Driven by rising demand from countries like China, Japan, and India, is likely to put Asia Pacific at the forefront of the market growth over the tenure of assessment. A rise in the per capita income of people in the region has led to increased consumption of various meat products is likely to surface as another growth impacting factor for the market in Asia Pacific. Growing awareness about protein intake for building muscles and for the requirements of the body is likely to foster growth of the konjac flour market in Asia Pacific.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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