Vitamin K2 Market is expected to grow with a CAGR 25.8% from 2022 to 2028
The Global Vitamin K2 market accounted for USD 450.5 Million in 2021.
The Vitamin K2 market is mainly driven by, a rise in vitamin deficiency disorders, the surge in consumer demand for nutritional supplements. In the past few years, especially since the COVID-19 outbreak, the awareness regarding health among the population has increased hastily and increased with every passing day. Owing to this surge, the demand for dietary supplements is also increasing.
Additionally, changing trend towards gymnasium and sports as careers is further propelling the demand for dietary supplements. To grasp this opportunity and reduce the supply and demand gap, supplements manufacturers are increasing their production. As vitamin K2 is used in dietary supplements, mounting demand for supplements is surging the demand for vitamin K2 further propelling the market growth over the forecast period.
Additionally, the population across the globe is increasing swiftly. In addition, the number of people suffering from osteoporosis is also increasing. According, to the Centers for Disease Control and Prevention (CDC), About 1 in 4 US adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis. Arthritis prevalence increases with age. Especially, with the rising geriatric population. Vitamin K2 reduces inflammation in rheumatoid arthritis by lowering the CRP levels. Thus, the demand for vitamin K2 is increasing from the pharmaceutical as well as nutraceuticals and food sectors. Thus, further propelling the market growth over the forecast period.
Furthermore, increasing demand for synthetic vitamin K2 as well as high production capacity is further anticipated to fuel the market growth over the forecast period.
North America is projected to hold the largest market share for the Vitamin K2 market. This is attributed to the increasing demand for Vitamin K-based dietary supplements. The growing prevalence of osteoporosis, arthritis, and cardiovascular diseases in the region is further projected to drive market growth in the region.
Europe is projected to grow at the fastest CAGR over the forecast period. The presence of emerging economies, as well as the availability of a large base of the population in the region, are some of the factors driving the vitamin K2 market gr3woth over the forecast period.
Some of the key players in the vitamin K2 market include - Kappa Bioscience, NattoPharma, GNOSIS S.p.A., Viridis BioPharma, Seebio Biotech, DSM, DuPont, Geneferm Biotechnology Co. Ltd., International Flavors & Fragrances, Inc., and KYOWA HAKKO BIO CO., LTD..
Browse the full Report - Vitamin K2 Market by Product (MK-7, MK-4, Others), by Source (Natural, Synthetic), by Form (Oil, Powder, Others), by Application (Nutraceutical, Food, Pharmaceuticals), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)