Vitamin K2 Market to Surpass USD 703 Million Valuation by 2027 at 31.08% CAGR - Report by Market Research Future (MRFR)
Vitamin K2 Market Trends and Insights by Product Type (MK-7, MK-4 and Combination Drugs), by Source (Natural and Synthetic), by Form (Capsules & Tablets, Powder, Oil), by Application (Nutraceutical & Food and Pharmaceutical) and by Region (Americas, Europe, Asia-Pacific, and Middle East & Africa), Competitive Market Growth, Size, Share and Forecast to 2027
New York, US, May 13, 2022 (GLOBE NEWSWIRE) -- Vitamin K2 Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Vitamin K2 Market Information by Product Type, Source, Form, Application, and Region-Forecast till 2027”, the market is anticipated to attain a size of over USD 703.82 million by the end of 2027 while thriving at a healthy CAGR of over 31.08%.
Market Scope:
The cases of vitamin K2 deficiency are growing across the globe owing to the changing food-related habits and lifestyles. They are naturally manufactured in human guts by bacteria.
Competitive Analysis
The global vitamin K2 market has prominent players such as:
Anderson Global Group, LLC. (US)
Kappa Bioscience (Norway)
Vox Nutrition (US)
Lesaffre (France)
Purayati (India)
Viridis BioPharma (India)
Kyowa Hakko Bio Co. Ltd (Japan)
Seebio Biotech (Shanghai) Co., Ltd (China)
International Flavors & Fragrances Inc. (US)
DSM (Netherlands)
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Market USP Covered
Market Drivers
The global market for vitamin K2 has registered a massive surge in the growth rate in the last few years. The market's growth is primarily driven by the growing number of cases of vitamin deficiency across the globe. Moreover, the growing Vitamin K Deficiency Bleeding (VKDB) cases worldwide is also one of the major parameters driving the market's growth over the assessment timeframe. In addition, factors such as rising cases of osteoporosis & arthritis and growing demand for nutraceutical products containing vitamin K2 are also likely to catalyze the market's growth over the coming years.
Market Restraints
The stringent regulations for nutraceuticals are likely to restrict the market's growth over the assessment period.
COVID-19 Impact
The global COVID-19 pandemic has had a huge impact on the majority of the market sectors worldwide. However, the vitamin K2 market faced a slightly different effect on the performance. The global health crisis affected the healthcare sector directly with a massive impact. At the primary stage of the pandemic, most nutraceutical and pharmaceutical companies witnessed a minor loss in the first few quarters, given the restrictions implemented on manufacturing and supply operations and sudden disruption of the supply chain. On the other hand, the COVID-19 has caused an increase in the demand for nutraceuticals, including vitamin K2, and various major market players experienced positive growth in sales owing to the growth in demand.
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Segment Analysis
The global vitamin K2 market has been fragmented into various segments based on application, form, source, product type, and region.
Based on the product type, the global vitamin K2 market is split into combination drugs, MK-4 and MK-7. Vitamin K2 MK-7 (menaquinone-7) is obtained from the bacterial fermentation of soy and is produced and processed in a manufacturing facility. Vitamin K2 MK-4 (menaquinone-4) is usually found in functional foods and supplements such as synthetic MK-4 to support blood coagulation and boost bone health. The combination drugs include drugs like D3+MK7+MK4, MK4 to MK7 Plus MK8/9/10, K2+D3, MK7+MK4, and others.
The global vitamin K2 market is fragmented into synthetic and natural based on the source. Natural vitamin K is usually observed in dark leafy greens and is vital for metabolic pathways and normal blood coagulation. The synthetic vitamin K2 is obtained from the flower extracts of farnesol and geraniol and replaces the natural soy-based MK-7.
Based on the form, the global market for vitamin K2 is split into oil, powder, capsules & tablets, and others. The other forms include soft gels, capsules, and tablets.
The global vitamin K2 market is fragmented into pharmaceutical and nutraceuticals & food based on application. Vitamin K2 is added to boost the nutritional value of food supplements and foods intended for the general population. The pharma-grade vitamin K2 ingredients are likely to experience a major surge in the growth rate over the assessment era. The segment's growth is mainly attributed to the rising applications of vitamin K2 in the pharmaceutical industry.
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Regional Analysis
The global vitamin K2 market is studied across four major regions: the Middle East & Africa, Asia-Pacific, Europe, and the Americas.
As per the MRFR analysis reports, the American region is anticipated to secure the top position in the global vitamin K2 market over the assessment era. The region is further divided into South America and North America. Among these two, the North American region is likely to be the leading revenue pocket over the assessment era. The major aspect causing an upsurge in the regional market's growth is the growing adoption of herbal medicines. Furthermore, factors such as surging healthcare costs and the increasing focus of consumers on health & wellness are also likely to catalyze the regional market's growth over the coming years.
The vitamin K2 market for the European region is likely to register a substantial growth rate over the forecasted era. The region is further classified into Western Europe and Eastern Europe. The regional market's growth is accredited to the rising consumer awareness about vitamin K2. Furthermore, the growing demand for vitamin K2 across the countries such as Germany, France, and the UK is likely to accelerate the regional market's growth over the forecasted timeframe.
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The vitamin K2 market for the Asia-Pacific region is likely to register moderate growth over the forecasted timeframe. The region is further divided into Australia, China, South Korea, India, Japan, and the rest of Asia-Pacific. The regional market's growth is credited to the presence of huge opportunities like increasing the patient pool suffering from vitamin deficiency, raising health concerns, and a growing aging population.
The Middle East & African regional market for vitamin K2 is likely to grow moderately over the projection timeframe. The factors include rising disposable income, rising urbanization, surging consumption of compound feed, and growing health concerns across the region.
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