The vitamin K2 market Size was valued at USD 85.4 billion in 2021 and is projected to grow from USD 111.94 Billion in 2022 to USD 3.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period (2023 - 2032). Factors such as rising demand for healthy foods and supplements, rapidly increasing cases of cardiovascular disease and osteoporosis, and an increase in the global geriatric population base will drive the vitamin K2 market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Vitamin deficiency cases have been steadily increasing in recent years. The increase in vitamin-deficient illnesses is driving up demand for vitamin-containing nutraceuticals. The deficit of vitamin K2 is another issue. Babies with VKDB (Vitamin K2 Deficiency Bleeding), a condition in which their blood lacks adequate Vitamin K2 to clot, cannot stop bleeding. The importance of vitamins for overall health and their advantages for the human body, especially the bones, is backed by substantial clinical evidence. As of 2021, 44 million Americans had a low bone density, and about 10 million had osteoporosis. This factor will increase sales of vitamin K-based products such as pharmaceutical-grade injections, food fortification, oral supplements, and dietary supplements.
Another important factor driving the increase in vitamin K2 consumption is osteoporosis and an increase in aesthetic standards. The human body's ability to grow new tissues is hampered by osteoporosis. As a result, there will continue to be a high demand for medications containing vitamin K2. According to the 2019-20 Osteoporosis Foundation statistics, more than 38 million people worldwide have osteoporosis.
Based on the product type, the vitamin K2 market segmentation includes MK-7 and MK-4 & combination drugs. The MK-7 segment held the largest share in 2021, accounting for approximately 46-49% of the vitamin K2 market revenue owing to advancements in dietary supplement preparation in personalized nutrition. MK-seven is a type of vitamin K. Menaquinone-7, also known as vitamin K2 MK-7, which is created in a production plant by bacterially fermenting soy. Moreover, the expansion of this market is likely to be supported by a rise in bone disorders such as osteoporosis and an upsurge in aesthetic standards. For instance, the International Osteoporosis Foundation (IOF) estimates that osteoporosis contributes to more than 8.9 million fractures each year in the world.
Figure 2: Vitamin K2 market, by Product Type, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on the source, the vitamin K2 market includes natural and synthetic segments. The synthetic segment had the highest global market revenue share in 2021 due to higher production. The synthetic vitamin K2, a substitute for the naturally occurring MK-7 derived from soy, is obtained from farnesol and geraniol flower extracts. Fermentation has fewer advantages than synthesis production. A synthesis process produces up to 90% of the vitamins on store shelves. In addition, natural vitamin K in dark leafy greens is essential for proper blood coagulation and metabolic processes. Fermented natto, soy, goose liver, egg yolks, cheese, dark meat/salami from chicken, sauerkraut, and butter are high in vitamin K2. Natural vitamin K2 is a fat-soluble compound with anti-osteoporotic, hemostatic, and antioxidant properties that belongs to the vitamin K family.
Based on the form, the vitamin K2 market segmentation includes capsules & tablets, powder, and oil. Powder dominated the global market in 2021 and is anticipated to be the fastest-growing segment during the forecast period of 2022-2030, as vitamin powder dissolves quickly in water and other liquids. When consumed with water, vitamin K2 products in the powder form are more quickly and effectively absorbed by the body than in capsule and tablet forms. High calcium levels are treated with vitamin K powder. The vitamin aids in lowering your body's absorption of calcium, which may lower your risk of developing kidney or osteoporosis stones. Blood-thinning medications (anticoagulants), such as warfarin, can cause bleeding, which vitamin K is used to stop and slow.
Based on the application, the vitamin K2 market segment includes nutraceutical, food & pharmaceutical. The food & pharmaceutical segment had the highest market revenue share in 2021. This is primarily due to increased cases of Vitamin K Deficiency Bleeding (VKDB), cardiovascular diseases, and demand for tablets/powder-containing pharma vitamins, which are the major factors driving segment market growth. For instance, early and classical VKDB, which affects 1 in 60 to 1 in 250 newborns, is more prevalent, according to the Centers for Disease Control and Prevention (CDC). Vitamin K2 is increasingly used in the pharmaceutical industry to improve dental, bone, and cardiovascular health in treating osteoporosis and cardiovascular disease. Powders and oils are the most common forms of consumption. Depending on the end-use orientation, they can be found in food products, dietary supplements, injections, functional foods, tablets, and syrups. The ongoing research into the ingredient is anticipated to drive up demand for vitamin K2 in previously untapped food and pharmaceutical markets.
By Region, the study provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World. The North American vitamin K2 market is expected to grow at a significant CAGR during the study period, accounting for USD 37.14 billion in 2021, owing to rising herbal medicine adoption, increased consumer focus on health and wellness, rising healthcare costs, and increased demand from pharmaceutical, food and beverage, and cosmetic industries. The growing regional demand for vitamin K-based dietary supplements propels the vitamin k market forward. The rising prevalence of arthritis, osteoporosis, and cardiovascular disease will drive product sales in North America.
In addition, the major countries covered in the vitamin K2 market are the United States, Germany, Canada, France, the United Kingdom, Italy, Spain, Japan, India, Australia, China, South Korea, and Brazil.
Figure 3: VITAMIN K2 MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The European vitamin K2 market is the world's second-largest, owing to increasing disposable income, an increasing number of working women looking for nutritional supplements to help them in their daily lives while away from home, and an increase in chronic diseases due to changing lifestyle patterns. Growing consumer awareness of vitamin K2 and rising demand for vitamin K2 in the United Kingdom, France, and Germany will likely support the vitamin k supplement market over the forecast period. Further, the U.K. vitamin K2 market held the largest market share, and the France vitamin K2 market was the fastest-growing market in the European region.
The Asia Pacific vitamin K2 market is expected to grow at the fastest CAGR during the forecast period due to numerous market opportunities, such as an aging population, rising health concerns, and an increasing patient pool suffering from vitamin deficiency. Due to the quickly increasing demand from end-users like ultra-premium infant formula, dietary supplements, and medical foods, the Asia Pacific region is predicted to hold a sizable share of the global Vitamin K market and emerge as a leading consumer. Moreover, rising healthcare costs and consumers' increased focus on health and wellness will likely catalyze regional market growth in the coming years.
Vitamin K2 Key Market Players & Competitive Insights
Players in the vitamin K2 market use various development strategies, including product launches, partnerships, mergers, acquisitions, etc., to maintain industry competition and increase global market share. The global market is distinguished by a broad range of supply channels created by the market participants already in place, where each business uses slightly or completely different supply protocols. The majority of the dominant major industry players have long-term agreements with enormous regional and local sales representatives, who guarantee consistent and widespread sources of the products, strengthening the positions of the businesses in the global market.
In recent years, funding levels have increased, and global vitamin K2 providers have invested significantly in product development and innovation. The demand for longer life expectancies, increasing disposable income, and increasing investment in self-care are driving up the investment by regional players. Players in the market have recently been engaged in R&D activities to create products with greater accuracy and efficiency. Additionally, the market participants are implementing marketing strategies like campaigns, remarketing, and discounted prices.
Lesaffre is a French yeast manufacturing company and the world's largest producer of vitamin K2. Lesaffre acquired NattoPharma, a Vitamin K2 specialist, in May 2021, broadening its product offering in the human health and nutrition market. Additionally, this acquisition improved the business's research and marketing division for vitamin K2.
Kappa Bioscience is a specialized ingredients manufacturer that creates and sells high-purity vitamin K2 (MK-7). Kappa Bioscience was the first to develop and manufacture the only synthesized and bioactive all-trans menaquinone-7 (vitamin K2 MK-7), marketed under the brand name K2VITAL. Kappa Bioscience planned to expand its operations in the United States in February 2021. The geographical expansion strategy will increase the company's base of customers and operational facilities, resulting in increased nutraceutical production.
Key Companies in the vitamin K2 market include
Vitamin K2 Industry Developments
May 2020: Kappa Bioscience introduced an educational program to provide insights into the scientific analysis, production, and synthesis of dietary supplements like Vitamin D3 and K2.
February 2020:Â Lesaffre has established a new baking center in Abidjan, Ivory Coast, to assist in developing products that address local needs. The facility, which the company's Lesaffre Ivoire subsidiary will run, will be Lesaffre's first in West Africa. It also serves as the technical and commercial support hub for most of Lesaffre's Central African operations.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 85.4 billion |
| Market Size 2022 | USD 111.94 billion |
| Market Size 2032 | USD 3.9 billion |
| Compound Annual Growth Rate (CAGR) | 4.5% (2023-2032) |
| Base Year | 2021 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Market Competitive Landscape, Revenue Forecast, Growth Factors, and Trends |
| Segments Covered | Product Type, Source, Form, Application, and Region |
| Geographies Covered | Europe, North America, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Germany, Canada, the UK, France, Italy, Spain, India, Japan, Australia, China, South Korea, and Brazil |
| Key Companies Profiled | Lesaffre (France), Kappa Bioscience (Norway), Seebio Biotech (Shanghai) Co. Ltd (China), Viridis BioPharma (India), DSM (Netherlands) |
| Key Market Opportunities | Emerging demand for nutraceutical products containing vitamin K2 |
| Key Market Dynamics | The growing global prevalence of vitamin K2 deficiency Rising cases of osteoporosis bone deformation in newborns and adults |
Vitamin K2 Market Highlights:
Frequently Asked Questions (FAQ) :
The vitamin K2 market size was valued at USD 85.4 Billion in 2021.
The global market is projected to grow at a CAGR of 4.5% during the forecast period, 2023-2032.
In 2021, North America had the largest revenue share of the global market.
The key players in the market are Lesaffre (France), Kappa Bioscience (Norway), Seebio Biotech (Shanghai) Co. Ltd (China), Viridis BioPharma (India), and DSM (Netherlands).
The MK-7 category dominated the global market in 2021.
In 2021, food & pharmaceutical had the largest global market share.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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