Request Sample Inquiry
Vitamin K2 Market

Vitamin K2 Market

Vitamin K2 Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

182

Base Year:

2022

Date

Jan - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1222

Segments Covered
  • By Product By Product MK-7, MK-4, Others
  • By Source By Source Natural, Synthetic
  • By Form By Form Oil, Powder, Capsules & Tablets
  • By Application By Application Pharmaceuticals, Nutraceuticals and Food, Cosmetics, Feed, Others
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 1097.4 Million
Revenue 2030Revenue 2030: USD 3834.4 Million
Revenue CAGRRevenue CAGR (2023 - 2030): 14.9%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Europe
Largest Region Largest Region (2022): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Vitamin K2 Market Share

The global Vitamin K2 Market is valued at USD 1097.4 Million in 2023 and is projected to reach a value of USD 3834.4 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 14.9% between 2024 and 2032.

Key Highlights of Vitamin K2 Market

  • North America predominantly led the Vitamin K2 market in 2023, with 35.6% of the total market share
  • Europe is projected to remain the second most revenue-generating region during the forecast period
  • The MK-7 segment significantly contributed to the market’s expansion, constituting over 71.7% of the overall revenue share in 2023
  • Natural segment took the lead in the market, contributing 60.7% of revenue share in 2023
  • The Powder segment took the lead in the market in 2023, constituting over 53.2% of the market share
  • In 2023, the Nutraceuticals and Food segment played a crucial role in the market’s growth, representing the majority of the revenue share, i.e., 58.4%
  • In many countries, Vitamin K2 is classified as a dietary supplement. Regulatory agencies, such as the U.S. Food and Drug Administration (FDA) in the United States and the European Food Safety Authority (EFSA) in Europe, oversee the regulation of dietary supplements, including Vitamin K2

Vitamin K2 Market Size, 2022 To 2030 (USD Million)

AI (GPT) is here !!! Ask questions about Vitamin K2 Market
Loading....

Vitamin K2 Market: Regional Overview

The North America Vitamin K2 market exhibited significant dominance in 2023, with 35.6% of revenue share. North America stands as a significant and dynamic market for Vitamin K2, encompassing the United States, Canada, and Mexico. This region is characterized by its substantial demand for dietary supplements, functional foods, and fortified products, reflecting a growing emphasis on health and wellness among consumers. In the United States, the largest market within North America, Vitamin K2 enjoys widespread utilization in dietary supplements tailored to address various health concerns. Particularly, Vitamin K2 is prominently featured in formulations targeting bone health, cardiovascular support, and overall well-being. As consumers become increasingly proactive about their health, the demand for products containing Vitamin K2 continues to rise.

U.S. Vitamin K2 Market Overview

The Vitamin K2 market in the United States, with a valuation of USD 366.3 Million in 2023, is projected to reach around USD 1256.7 Million by 2032. A significant Compound Annual Growth Rate (CAGR) of 14.7% from 2024 to 2032 is projected in this forecast. The United States stands as a formidable force in the global arena for Vitamin K2, propelled by a confluence of factors that underscore its significance. Foremost, the nation's expansive and diverse populace furnishes an extensive consumer base for dietary supplements and fortified foods, among which Vitamin K2 finds its place. This demographic is increasingly health-conscious, with a burgeoning inclination toward preventive healthcare and nutrition, fueling a surging demand for products offering health advantages like Vitamin K2.

U.S. Vitamin K2 Market

The global Vitamin K2 market can be categorized as Product, Source, Form, and Region.

Parameter Details
Segments Covered

By Product

  • MK-7
  • MK-4
  • Others

By Source

  • Natural
  • Synthetic

By Form

  • Oil
  • Powder
  • Capsules & Tablets

By Application

  • Pharmaceuticals
  • Nutraceuticals and Food
  • Cosmetics
  • Feed
  • Others

By Region

  • North America
    • U.S.
  • Europe
  • Asia Pacific
  • Latin America
  • 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)
Companies Covered
  • Novozymes A/S
  • Glanbia plc
  • Anderson Global Group LLC
  • LONZA GROUP AG
  • International Flavors & Fragrances (IFF)
  • Balchem Corporation
  • BASF SE
  • Lesaffre
  • SEEBIO BIOTECH (SHANGHAI) CO. LTD.
  • Royal DSM N.V.
Report Coverage 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 impact analysis
Pricing and purchase options Avail of customized purchase options to meet your exact research needs. Explore purchase options

Vitamin K2 Market: Product Overview

In 2023, substantial expansion was observed in the Global Vitamin K2 market within the MK-7 category, i.e., 71.7%. Based on the Product, the Vitamin K2 market is divided into MK-7, MK-4, and Others.MK-7, or menaquinone-7, stands out as a pivotal player in the Vitamin K2 market due to its significant market size and impressive CAGR. This form of Vitamin K2 has garnered substantial attention and adoption, primarily owing to its unique properties and diverse applications across various industries. Menaquinone-7, also known as MK-7, is a naturally occurring form of Vitamin K2 found in fermented foods and certain animal products. The growing awareness and research surrounding the health benefits of Vitamin K2 have propelled the demand for this essential nutrient. Studies have highlighted its role in bone health, cardiovascular health, and even potential benefits for skin health. As consumers become more health-conscious and seek preventive measures against chronic diseases, the demand for supplements containing MK-7 has surged.

Vitamin K2 Market: Source Overview

There was remarkable growth in the Natural segment, with 60.7% of the market share in 2023. Based on the Source, the Vitamin K2 market is bifurcated into Natural and Synthetic. The category of "Natural" within the Vitamin K2 market represents products derived from natural sources, such as fermented foods, plant extracts, or other organic sources. This segment holds a significant market share, indicating a strong preference among consumers for naturally sourced Vitamin K2 products. The prominence of natural Vitamin K2 underscores the growing demand for wholesome, minimally processed ingredients in the dietary supplement and functional food industries. One of the primary sources of natural Vitamin K2 is fermented foods, with natto, a traditional Japanese dish made from fermented soybeans, being one of the most well-known sources.

Vitamin K2 Market: Form Overview

In 2023, the global Vitamin K2 market experienced significant growth, with a 53.2% share in the Powder segment. Based on the Form, the Vitamin K2 market is segmented into Oil, Powder, and Capsules & Tablets. Powdered formulations of Vitamin K2 offer numerous advantages, making them convenient and practical for a wide range of applications, including dietary supplements, food additives, and cosmetics. Powdered Vitamin K2 is particularly well-suited for use in dietary supplements. By encapsulating or compressing the powder into tablets or capsules, manufacturers can create convenient and easily consumable dosage forms for consumers. These supplements can be formulated to provide precise doses of Vitamin K2, allowing for accurate dosing and consistent delivery of the nutrient. Moreover, powder form allows for flexibility in dosage customization, making it suitable for products targeting different age groups, health conditions, or nutritional requirements. Whether formulating supplements for children, adults, or seniors, manufacturers can adjust the concentration of Vitamin K2 in powder form to meet specific dosage requirements and health recommendations.

Key Trends

  1. Growing Trend Towards Personalized Nutrition: Technological progress and a more accurate understanding of individuals' health needs are leading to an increase in the use of personalized nutrition. A growing number of consumers are looking for custom dietary solutions that are tailored to their specific nutritional needs, lifestyle and health objectives. This trend has led to the development of individualized supplement formulations, e.g. Vitamin K2 supplements that are tailored for each user's particular needs and preferences. In order to create personalised nutrition plans and supplements, manufacturers are using data analysis, genetic testing, and artificial intelligence to provide consumers with a more tailored approach to achieving optimal health and well-being.
  2. Clean Label and Transparency: In particular in the supplement sector, consumers are increasingly interested in transparency and clean label products. They actively seek products that do not contain artificial additives, fillers or unnecessary additives, with clear and concise ingredient lists. As a result, transparency in the supply chain, production processes, and labelling practices is becoming a priority for manufacturers. With a view to ensuring that their products satisfy consumer expectations of purity, safety and quality, numerous natural supplements brands are taking steps towards clean labelling initiatives.
  3. Digital Health and Wellness: Digitalization of health and wellness is revolutionizing how consumers are accessing information, tracking their health indicators as well as managing their quality of life. Consumers have unprecedented access to personal health information and resources due to the proliferation of digital health applications, wearable devices or internet platforms. This trend is also reflected in the supplement sector, where consumers are turning to digital platforms for product research, comparing options and making informed purchasing choices. In order to engage consumers, provide educational content and offer personalized recommendations based on individual health profiles, manufacturers are using digital technologies.

Premium Insights

Regulatory agencies often regulate health claims associated with Vitamin K2 products. Claims related to the health benefits of Vitamin K2, such as its role in bone health or cardiovascular function, may be subject to scrutiny and approval by regulatory authorities. Companies must provide scientific evidence to support these claims and comply with regulatory guidelines to avoid misleading consumers. Vitamin K2 gains Novel Foods approval in the EU, expected to boost production levels. Approval by SCFCAH follows EFSA's positive opinion, allowing usage in supplements and functional foods. Derived from natto, K2 shows promise in heart, skin, and bone health, as well as cancer prevention. NattoPharma's application for its proprietary K2 Torm, MenaQ/ paves the way for widespread use. Moreover, the regulatory bodies establish quality and safety standards for Vitamin K2 products to ensure they meet specific criteria for purity, potency, and safety. Compliance with standards such as ISO 9001 (Quality Management Systems) and ISO 22000 (Food Safety Management Systems) is often required to demonstrate product quality and safety throughout the manufacturing process.

Report Coverage & Deliverables

PDF report & online dashboard will help you understand:

  • Real-Time Data Updates:
  • Competitor Benchmarking
  • Market Trends Heatmap
  • Custom Research Queries
  • Market Sentiment Analysis
  • Demographic and Geographic Insights

Get Access Now

Track market trends LIVE & outsmart rivals with our Premium Data Intel Tool: Vantage Point

Market Dynamics

Consumers around the world are becoming more and more aware of the importance to maintain optimum health and wellbeing, which is driving Vitamin K2 market growth, due to growing emphasis on proactive healthcare and preventive measures. Various factors, including greater access to health information via the Internet, increasing education on nutrition and nutritional supplements as well as an ageing population which is more interested in older people's health problems, have contributed to this enhanced awareness. Demand for Vitamin K2 has also been significantly increased, driven by its essential role in maintaining bone homeostasis and regulating calcium levels together with vitamin D3.

As Vitamin K2 producers seek to meet the changing needs and preferences of consumers, product innovation is a key factor that drives growth in this market. A wide range of Vitamin K2 supplements offering improved efficacy, convenience and consumer appeal has been developed as a result of constant innovation in product formulations, delivery methods and bioavailability enhancing techniques. The improvement of the bioavailability of Vitamin K2 supplements is one area of innovation. Bioavailability refers to the extent and rate at which a nutrient is absorbed or used by the body. Various strategies to improve the bioavailability of Vitamin K2, such as incorporation of bioactive carriers, use of novel delivery systems like liposomal encapsulation and optimization of formulation parameters in order to enhance absorption and efficacy are being explored by manufacturers.

Competitive Landscape

Players focus on exploring new sources of Vitamin K2, improving extraction methods, and understanding its health benefits. High performance analytical instruments, including chromatography systems (e.g., HPLC), mass spectrometers, and NMR spectrometers, are used for product characterization and quality control. These technologies enable accurate quantification and identification of Vitamin K2 compounds in raw materials and finished products.

Recent Market Developments

  • In Sept 2023, Glanbia remained committed to sustainability initiatives, implementing measures to reduce its environmental footprint and promote responsible sourcing practices across its operations. These efforts included investments in renewable energy projects, waste reduction initiatives, and sustainable packaging solutions, aligning with the company's commitment to corporate social responsibility and environmental stewardship.
  • In Feb 2023, the Anderson Global Group, in order to create key partnerships and alliances, has stepped up its efforts. Cooperation has been pursued with a keen focus on mutual value creation and strategic alignment, positioning the company for increased market penetration and diversified revenues.
  • In Dec 2023, Lonza Group AG's strategic developments in 2023-2024 underscored its commitment to innovation, collaboration, sustainability, and operational excellence, positioning the company for sustained growth and leadership in the global life sciences and healthcare industry.

FAQ
Frequently Asked Question
  • The global Vitamin K2 valued at USD 1097.4 Million in 2022 and is expected to reach USD 3834.4 Million in 2030 growing at a CAGR of 14.9%.

  • The prominent players in the market are Novozymes A/S, Glanbia plc, Anderson Global Group LLC, LONZA GROUP AG, International Flavors & Fragrances (IFF), Balchem Corporation, BASF SE, Lesaffre, SEEBIO BIOTECH (SHANGHAI) CO. LTD., Royal DSM N.V..

  • The market is project to grow at a CAGR of 14.9% between 2023 and 2030.

  • 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 2022.