Vitamin K2 Market
Vitamin K2 Market - Global Industry Assessment & Forecast
- 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, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 450.5 Million|
|Revenue 2028:||USD 705.8 Million|
|Revenue CAGR (2022 - 2028):||25.8%|
|Fastest Growing Region (2022 - 2028)||Europe|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
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- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
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Global Vitamin K2 Market is valued at USD 450.5 Million in 2021 and is projected to attain a value of USD 705.8 Million by 2028 at a CAGR of 25.8% 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, 2021 To 2028 (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.
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:
Regions & Countries Covered
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
Vitamin K2 Market is tabulated as follows:
Frequently Asked Question
The global Vitamin K2 valued at USD 450.5 Million in 2020 and is expected to reach USD 705.8 Million in 2028 growing at a CAGR of 25.8%.
The prominent players in the market 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..
The market is project to grow at a CAGR of 25.8% between 2021 and 2028.
The driving factors of the Vitamin K2 include
- Increasing Patient Pool Suffering From Vitamin Deficiency
North America was the leading regional segment of the Vitamin K2 in 2020.