ID: MRFR/HC/6026-CR | February 2019 | Region: Global | 120 pages
Vitamin K2, also known as menaquinones, are a group of compounds known for preventing cardiovascular diseases and bone diseases. The vitamin is responsible for ensuring calcium is absorbed by the bone matrix and prevent its deposition in the arteries.
The global vitamin K2 market is estimated to touch a valuation of USD 228.27 million by 2023, as per the latest findings of Market Research Future (MRFR). It is predicted to register 31.08%% CAGR over the forecast period (2018-2025). It was previously valued at USD 45 million in 2017. It is primarily driven by the rise in vitamin deficiency cases. An increase in health consciousness coupled with the inclination of consumers towards nutritional supplements can drive the vitamin K2 market growth.
Rising cases of osteoporosis which can accelerate the aging of tissues is another factor that can positively impact the market. But strict regulations by government federal agencies for approval of supplements can act as a growth deterrent.
Key players in the global vitamin K2 market report include Kappa Bioscience (Norway), NattoPharma (Norway), Gnosis SpA (Italy), Viridis BioPharma (India), Seebio Biotech (China), DSM (The Netherlands), Danisco A/S (U.S.), Geneferm Biotechnology Co. Ltd. (Taiwan), Frutarom (Israel), and Kyowa Hakko Bio Co. Ltd. (Japan).
The global vitamin K2 market is segmented on the basis of product type, source, form, and application.
By product type, the market is segmented into MK-4, MK-7, and others. ‘Others’ include MK-5, MK-8, MK-9, and MK-10. Two major sources discussed include natural and synthetic.
By form, the market is bifurcated into oil and powder. Major applications include nutraceutical & food and pharmaceutical.
For the scope of the report, the global vitamin K2 market is segmented in the following manner
Based on regions, the global vitamin K2 market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Americas held a major market share in 2017 owing to rocketing healthcare costs, focus on health and wellness by consumers, and adoption of herbal medicines. On the other hand, the European region can register a stupendous growth rate thanks to demand for vitamin supplements in Germany, France, and the U.K
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Frequently Asked Questions (FAQ) :
Vitamin K2 market is projected to grow at a 31.08% CAGR between 2018-2025.
Vitamin K2 market is predicted to touch USD 228.27 million by 2025.
The Americas is expected to lead vitamin K2 market.
Rising cases of vitamin deficiency and increasing prevalence of osteoporosis are the key factors driving the vitamin K2 market.
Strict government regulations may limit the vitamin K2 market growth.
Global Vitamin K2 Market- Summary
The global vitamin K2 market is estimated to touch a size of USD 228.27 million by 2023. It can display 31.08% CAGR from 2018 to 2023 (forecast period). The market is primarily driven by the alarming rate of vitamin deficiency cases. Vitamin K2 is highly essential in human diets owing to its ability to supply sufficient amounts of calcium to the body. Osteocalcin activated by vitamin K2 ensures the absorption of calcium into the bone matrix and preventing its accumulation in the arteries.
High demand for nutraceuticals which can play its role in combating various diseases including cholesterol, diabetes, obesity, cardiovascular diseases, and osteoporosis can propel the vitamin K2 market demand. Rising cases of osteoporosis can work in favor of the market. Benefits of the vitamin can assist in the treatment of the bone disorder and strengthen bones.
Multifunctional ingredients have become the rage in the pharmaceutical industry due to their ability to maintain taste, texture, and extend shelf life of foods. In addition, its potential to increase the dosage of nutraceutical and pharmaceutical formulations is likely to bode well for the vitamin K2 market. The aging populace offers a bright opportunity for manufacturers to innovate and produce beverages and foods which can enhance bone health.
Seebio Biotech (China), Kappa Bioscience (Norway), Geneferm Biotechnology Co. Ltd. (Taiwan), DSM (The Netherlands), Frutarom (Israel), Gnosis SpA (Italy), NattoPharma (Norway), Viridis BioPharma (India), Kyowa Hakko Bio Co. Ltd. (Japan), and Danisco A/S (U.S.) are some of the noteworthy players in the vitamin K2 market.
By product type, the global vitamin K2 market is segmented into MK-4, MK-7, and others. The MK-7 segment accounted for a large market share owing to its increasing use in dietary supplements. Its availability in various supplements combined with the ability of MK-7 to promote bone health can drive segment growth. On the other hand, the MK-4 segment can contribute to the vitamin K2 market thanks to its ability to reduce fractures.
By source, the market is segmented into natural and synthetic. The synthetic segment accounted for a major market share in 2017 due to being produced in abundance by companies. Moreover, its production at low costs and similar bioavailability to its natural counterpart can drive its growth. On the flip side, the natural segment can contribute to the vitamin K2 market sales due to being present in leafy vegetables. It can dominate the market owing to consumer preference and high presence of vitamins compared to its equivalent segment.
By form, it is segmented into oil, powder, and others. The powder form accounted a large share of the vitamin K2 market owing the powdered form being dissolved easily in water or other liquids. Companies have developed a method for delivering supplement powders with ease. The oil form can greatly contribute to the market owing to being a protective method of ensuring the purity of vitamin K in formulations.
By application, the vitamin K2 market is segmented into pharmaceutical and nutraceutical & food. The nutraceutical & food segment can thrive due to high demand for nutritional and food supplements by consumers to tackle various deficiencies. Ongoing research and development to include vitamin K2 in multifunctional food formulations can drive segment growth. On the other hand, the pharmaceuticals segment can exhibit a stellar growth rate due to heightened production of supplements to manage cardiovascular diseases and others.
Geographic segmentation of the global vitamin K2 market comprises Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas region is predicted to assume the top position in the vitamin K2 market thanks to increased focus on health and wellness by consumers, adoption of herbal medicines, and heightened demand from personal care product companies. The Europe region can register the fastest CAGR due to heavy demand for nutraceuticals thanks to preference of naturally derived supplements by consumers in the region. On the other hand, the APAC region can showcase a respectable growth rate due to increased purchasing power of consumer, awareness of food supplements, and demand for healthy products.