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Konjac Flour Market Size
- Report ID: GMI11271
- Published Date: Sep 2024
- Report Format: PDF
Konjac Flour Market Size
Konjac Flour Market size was valued at USD 1.28 Billion in 2023 and is projected to grow at 2.6% CAGR from 2024 to 2032. In recent years, the market has experienced notable growth, primarily fueled by heightened consumer awareness and a surging demand for health-centric, plant-based foods. Hailing from Southeast Asia, Konjac Flour is a tuber celebrated for its high fiber content and minimal caloric value. This makes it a favored ingredient in dietary products, particularly in Western markets.
A prominent trend in the global konjac flour market is the increasing consumer preference for natural, organic, and minimally processed foods. This shift is largely driven by heightened health awareness, a surge in lifestyle-related diseases, and a growing inclination towards vegan and vegetarian diets. Products derived from konjac flour, such as konjac flour noodles and supplements, are now staples in health food stores and online platforms, resonating with the global movement towards sustainable and health-oriented eating habits.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Konjac Flour Market Size in 2023: | USD 1.28 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 2.6% |
| 2032 Value Projection: | USD 1.61 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 172 |
| Segments covered: | By Grade, By Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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According to a survey, the Indian nutraceuticals market is estimated at a compound annual growth rate of 21%, from USD 4 billion in current value to USD 10 billion by 2022. In both developed and emerging nations, the aging population is estimated to USD 1 billion by 2020, according to a report released by MRSS India for the trade association, Assocham.
Global business trends in the konjac flour market are evolving, with a focus on innovative product formulations and an expanded product portfolio to meet diverse consumer demands. Manufacturers are venturing into new product lines that prominently feature konjac flour, including low-calorie snacks, gluten-free baking items, and plant-based meats. This strategy aims to harness konjac flour's versatility and its myriad functional benefits. Furthermore, there's a pronounced shift towards utilizing e-commerce platforms, a trend accelerated by the pandemic, allowing manufacturers to bolster brand visibility and engage directly with consumers.
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Konjac Flour Market Scope
