Global Vitamin K2 Market is valued at USD 564.75 Million in 2022 and is projected to attain a value of USD 3475.41 Million by 2030 at a CAGR of 25.50% during the forecast period, 2022–2028. Vitamin K2 deficiency is becoming more common as people's lifestyles and eating habits change. Bacteria in the human stomach spontaneously create Vitamin K2. Vitamin K2 is in short supply in the western diet, so it must be supplemented through diet and pharmaceutical medications. The increasing patient pool suffering from vitamin insufficiency, increased demand for nutraceutical goods containing Vitamin K2, and rising incidences of osteoporosis and arthritis are all contributing to market expansion. Nutraceutical restrictions, on the other hand, may stifle market growth throughout the projection period. Multifunctional ingredients, on the other hand, provide potential for market participants to produce innovative products.
Vitamin K2 Market Size, 2022 To 2030 (USD Million)
COVID-19's increased prevalence is expected to have an impact on market growth over the projection period. The COVID-19 dilemma has had a significant and immediate impact on the healthcare industry. Because of the unexpected impact on the supply chain and the limits imposed on manufacturing and supply operations during the early stages of the coronavirus pandemic, most pharmaceutical and nutraceutical companies suffered a minor loss in the first few quarters. COVID-19, on the other hand, has raised demand for nutraceuticals, especially Vitamin K2, and some important players have seen favourable sales growth as a result of the increased demand.
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Increasing Patient Pool Suffering From Vitamin Deficiency is Expected to Drive Growth of the Vitamin K2 Market
The number of cases of vitamin insufficiency has been steadily rising in recent years. The rising demand for vitamin-containing nutraceuticals is due to the rise in vitamin deficient illnesses. Vitamin K2 Deficiency is also a problem. VKDB (Vitamin K2 Deficiency Bleeding) is a disorder in which babies can't stop bleeding because their blood lacks enough Vitamin K2 to form a clot. Healthcare experts split VKDB into three categories, according to the Centers for Disease Control and Prevention (CDC): early, classical, and late. Early and classical VKDB are more prevalent, occurring in 1 in 60 to 1 in 250 babies, while late VKDB is more uncommon, occurring in 1 in 14,000 to 1 in 25,000 births.
Stringent Regulations for Nutraceuticals
To meet the government's criteria, key companies in the nutraceuticals market must follow the laws and regulations put forth by the government. Controlling permits, establishing restrictions for the admission of new participants, residual management concerns, and inspecting expiry dates for particular products such as dietary supplements are all responsibilities of the relevant authorities. The FDA is in charge of overseeing the production and distribution of functional foods and nutraceuticals in the United States.
The Global Vitamin K2 Market can be segmented by product type, into MK-7, MK-4, and Others. Based on Source, Natural and Synthetic. In terms of form, Oil, Powder, and Others. Based on application, Nutraceutical & Food and Pharmaceuticals. Based on Region, the Market is segmented into North America, Europe, Asia Pacific, Latin America And Middle East & Africa.
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The MK-7 segment is projected to account for large market share due to increase in usage of dietary supplements. The synthetic segment is anticipated to capture major market share because of high production. The powder segment is expected to dominate the global market in terms of share, as powdered form of vitamins dissolve quickly in water and other liquids. The nutraceutical & food segment is likely to grow at a rapid pace due to high demand for nutritional and food supplements among customers to take care of different deficiencies.
North America to Continue Dominating the Vitamin K2 Market
The North American market is expected to increase at an annual rate of roughly 8.1% in the next years. The rising frequency of Vitamin K2 -related disorders such newborn haemorrhage, osteoporosis, arthritis, diabetes, and vascular calcification would have a significant positive impact on the industry's growth. Sedentary lifestyles, bad food consumption, and a lack of exercise will activate the risk factors connected with the diseases indicated above, boosting regional expansion.
In 2020, the European Vitamin K2 Market was worth more than USD 170 million, and it is expected to increase significantly in the following years. According to the US Institute of Medicine, Europeans consume far less menadione and phytonadione. Vitamin deficiency causes postmenopausal bone loss and vascular calcification, especially in people with chronic kidney disease.
USD 181.1 Million
Some of the players are 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.,
Vitamin K2 Market is segmented as follows:
- Product (MK-7, MK-4, Others)
- Source (Natural, Synthetic)
- Form (Oil, Powder, Others)
- Application (Nutraceutical, Food, Pharmaceuticals)
- Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- Kappa Bioscience
- GNOSIS S.p.A.
- Viridis BioPharma
- Seebio Biotech
- Geneferm Biotechnology Co. Ltd.
- International Flavors & Fragrances Inc.
- and KYOWA HAKKO BIO CO. Ltd.
||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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Vitamin K2 Market is tabulated as follows: