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According to a new report, published by KBV research, The Global Konjac Market size is expected to reach $1.5 illion by 2028, rising at a market growth of 7.4% CAGR during the forecast period.
The Food & Beverages segment is leading the Global Konjac Market by End Use in 2021, and would achieve a market value of $575.9 million by 2018. This is because of its emulsifying and food gelation capabilities, as well as its use as a food component and additive joining the ranks of the food industry. The FDA and other government agencies are promoting the use of konjac in biologics and biosimilar, which will help the market flourish and grow the market of the Konjac plants.
The Gum segment is showcasing a CAGR of 7.6% during (2022 - 2028). The root of the konjac plant, grown in countries such as China, Korea, Taiwan, and Japan, is used to make konjac gum. It's composed of 85-90 percent Glucomamman which is used to make flour and a high-viscosity jelly in Asia. It forms thermoreversible, elastic gels when combined with kappa karrageenan and xanthan gum. It's used as a thickener and gelation agent in a range of foods, such as a vegan gelatin substitute.
The Hypermarkets/Supermarkets segment acquired maximum revenue share in the Global Konjac Market by Distribution Channel in 2021, thereby, achieving a market value of $670 million by 2018. It allows customers to shop for a variety of products all in one location. Increases consumers from hypermarkets/supermarkets since they have a large selection of products, salesperson assistance, product discounts, and quick checkouts. In the long term, advantages are expected to promote hypermarket/supermarket growth in the Konjac market.
The North America market dominated the Global Konjac Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $572.5 million by 2018, growing at a CAGR of 6.8 % during the forecast period. The Europe market is estimated to witness a CAGR of 6.9% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/konjac-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hubei Yizhi Konjac Biotechnology Co. Ltd., FMC Corporation, Baoji Konjac Chemical Co. Ltd., NOW Foods, Inc., Slendier Health Food and Wellness, Shanghai Brilliant Gum Co., Ltd. (BLG), Andi-Johnson Group, The Konjac Sponge Company, and NAH Foods Ltd. (Konjac Inov)
By End Use
By Product Type
By Distribution Channel