Vitamin K2 Market Anticipated to Reach Valuation of USD 705.8 Million by 2028

Vantage Market Research

Jan 30, 2022

In terms of revenue, the Vitamin K2 market is expected to reach USD 705.8 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 14.9% from 2022 to 2028. The major factors boosting the market growth are increasing demand for nutraceutical products containing, increasing number of patients suffering from vitamin deficiency coupled with cases of a large number of cases of osteoporosis & arthritis. With this, the multifunctional ingredients are an opportunity for market players to gain a higher market share.

Key Findings:

  • Vitamin MK-7 in the product type segment is anticipated to have a higher market share. It is used in dietary supplements coupled with this MK-7 is an enhanced bioactive form of vitamin K2 naturally found occurring in natto and responsible for carboxylation of specific bone proteins required for building bones.
  • Capsule and tablet forms sub-segment in form segment is holding a dominant position in the segment. Various manufacturers of vitamin K2 supplements are making capsule and tablet forms driven by easy accessibility and its high preference. In addition, a wide product portfolio is available for these forms in the vitamin K2 market.
  • Europe is projected to have the fastest market growth. A drastic hike in the consumption of functional foods by the citizens of China, and India is one major factor speeding up the demand for vitamin K2 in the Asia Pacific over the forecast period.

Some of the key players in the Vitamin K2 Market include - 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 Vitamin K2 Market expansion is due to a large number of populations suffering from vitamin insufficiency and osteoporosis and rheumatoid arthritis cases. With this, the increasing prevalence of COVID-19 is having an impact on vitamin K2 market growth. During the early stages of the coronavirus outbreak, the pharmaceutical, as well as nutraceutical companies, had experienced a high demand for vitamin K2 has driven the market growth and major players have experienced higher revenue as a result of increased demand.

Europe is poised to record a substantial CAGR in the vitamin K2 market. The growth in the region is due to increasing consumer awareness regarding vitamin K2 coupled with higher demand for Vitamin K2 in countries like the United Kingdom, Germany, and France. Additionally, heavy research and development in the medical domain is another factor complementing market growth.

Recent Developments:

May 2020: Kappa Bioscience introduced an educational program called “D3 & K2: The Perfect Pair.” The series shows how vitamins D3 and K2 work together, specifically for bone and cardiovascular health-from scientific evidence to market success. New research shows this duo helps regulate calcium absorption and utilization and how the two vitamins work better together.

February 2020: Lesaffre has opened a new baking center in Abidjan, Ivory Coast, which aims to aid the creation of products that meet local requirements. The facility will be operated by the company’s Lesaffre Ivoire subsidiary and is Lesaffre’s first baking center in West Africa.

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)