Global Vitamin K2 Market Definition
Coming from Vitamin K family, Vitamin K2, or menaquinone, is present in small quantities in organ meats and fermented foods. It contributes to skin health and bone metabolism, promotes proper brain function and prevents heart-related diseases. Furthermore, vitamin K2 is important in the body’s use of calcium to help build bones and to inhibit blood vessel calcification.
Global Vitamin K2 Market: Key Insights
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~26% |
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Base Year Market Size (2022) |
~ USD 450 Million |
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Forecast Year Market Size (2035) |
~ USD 700 Million |
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Regional Scope |
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Global Vitamin K2 Market Size, Forecast, and Trend Highlights Over 2023 - 2035
The global vitamin K2 market is estimated to garner a revenue of ~ USD 700 Million by the end of 2035 by growing at a CAGR of ~26% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~ USD 450 Million in the year 2022. The growth of the market can be attributed to the increasing patient population suffering from vitamin deficiency, and the rising demand for nutraceuticals with vitamin K2 during the forecast period. It is found that 60% relative risk reduction can be achieved in Vitamin K Deficiency Bleeding (VKDB) by intramuscular vitamin K. Vitamin K helps to prevent hemorrhage or clotting of blood. Also, the lack of vitamin K2 leads to osteoporosis and vascular calcification, thus to avoid such situations, the growth in consumption of vitamin K2 is expected to rise. As per the International Osteoporosis Foundation, osteoporosis leads to 8.9 million fractures, i.e., 3 fractures per second across the globe. Moreover, Vitamin K2 reduces inflammation in rheumatoid arthritis synovial cells and is essential for the body to utilize calcium and to build healthy strong bones
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The growth of the global vitamin K2 market forecast is on the back of increasing cases of osteoporosis and arthritis, an increase in health consciousness, and consumer demand for nutritional supplements during the forecast period. A rise in aesthetic standards and an increase in consumption of vitamin K2 to prevent calcium deficiency contribute to the growth of the global vitamin K2 market trends during the forecast period. In infants, the national incidence of VKDB who have not received prophylaxis at birth was 1 per 100,000 live births per year.
Global Vitamin K2 Market: Growth Drivers and Challenges
Growth Drivers
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Rising Awareness Regarding Health Amongst People – In modernization, people are being highly conscious of their food consumption. As a result, the consumption of vitamin K2 is expected to considerably rise in the forecast period. The awareness of healthy eating, nutrition, and weight loss raised the sector from USD 900 billion in 2019 to USD 950 billion in 2020.
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Increasing Vitamin K Deficiency – Every 34 seconds one person dies from heart disease in the United States. The cost of cardiovascular disease is about USD 229 billion each year in the U.S.
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Rise of Nutraceuticals and Ayurvedic Medicines - The government of India Enterprises Under the Ministry of Ayush has made a sale of about USD 1.54 billion during the year 2020-2021 in the sector of Ayurvedic and Unani Medicines. The rise in acceptance of ayurvedic medicines is estimated to propel people to consume supplements. About 57.6% of adults-20 years of age reported have used dietary supplements between 2017-2018. This is expected to boost the market growth.
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Growth of Pharmaceutical Companies – In 2020, federal government spending on health care has grown to 36% from 59% in 2019.
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High Demand for Osteoporosis Treatment – About 10 million Americans suffer from osteoporosis and 44 million suffer from low bone density as of 2021.
Challenges
- Regulations for Nutraceuticals
- Issues Related to Expiry Dates – Medicines and supplements has a shelf life of almost 2 years. If the supplement is not being consumed in the certain period, then it becomes hazardous for health which can cause serious health problems in the future. This factor is expected to prompt the consumer buy less of vitamin K2 for consumption.
- Lack of Basic Needs and Nutritional Diet
The global vitamin K2 market is segmented and analyzed for demand and supply by application into nutraceuticals, food, and pharmaceuticals, out of which, the nutraceuticals segment is anticipated to hold the largest market size by the end of 2035 in the global vitamin K2 market size on account of an increasing number of cases of vitamin deficiency, owing to several disorders or diseases. In 2021, around the world undernutrition was linked to 45% of deaths occurring in children under 5 years of age. Usage of vitamin K2 supplements for anticoagulation therapy and arthritis disease is also estimated to attribute to the market growth during the forecast period. Studies suggest that the lifetime risk of fracture can be reduced by 25% with the daily use of vitamin K supplements.
Global Vitamin K2 Market Regional Synopsis
The North America vitamin K2 market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035 on the back of rising use of herbal medicines, increasing focus of consumers on health, and rising concern for wellness. About 80% of the population uses traditional herbal medicines such as acupuncture, indigenous therapies, and others. In February 2010, the US announced a new Global Health Initiative that will invest USD 63 billion over 6 years to assist partner countries enhance their healthcare outcomes. Furthermore, the surge in healthcare costs and boosting demand from pharmaceutical industries, food and beverage companies, and cosmetic industries is anticipated to attribute to the growth of the market in this region. The hospital expenditure of the U.S in the year 2020 increased to 6.4%, USD 1,270.1 billion higher than the 6.3% growth in 2019.
Market Segmentation
Our in-depth analysis of the global vitamin K2 market includes the following segments:
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By Type |
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By Source |
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By Application |
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Top Featured Companies Dominating the Global Vitamin K2 Market
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Kappa Bioscience Group
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Gnosis by Lesaffre
- Koninklijke DSM N.V
- Pfizer Inc.
- Viridis BioPharma Pvt. Ltd.
- DuPont de Nemours, Inc.
- Seebio Biotech (Shanghai) Co., Ltd.
- GeneFerm Biotechnology Co., Ltd.
- Kyowa Hakka Bio Co., Ltd.
- International Flavors & Fragrances Inc.
