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HEALTHCARE & PHARMACEUTICAL

Vitamin K2 Market Analysis by Type (MK-7, MK-4, and Others); by Source (Natural and Synthetic); by Application (Nutraceutical, Food, and Pharmaceuticals); and by Form (Powder, and Oil) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Kappa Bioscience invites Vitafoods to discuss vitamin K2 manufactured under the brand name K2Vital and its synergistic relationship with vitamin D.
  • Gnosis by Lesaffre expands its vitamin K2 offering by the acquisition of NattoPharma for global reach and to fuel new innovation for future of vitamin K2.

Global Vitamin K2 Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Vitamin-K2-Market-Scope

The global vitamin K2 market is estimated to garner a revenue of USD 700 million by the end of 2031 by growing at a CAGR of ~26% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 450 million in the year 2021. 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 haemorrhage or clotting of blood. Lack of vitamin K2 leads to osteoporosis and vascular calcification. As per the International Osteoporosis Foundation, osteoporosis leads to 8.9 million fractures, i.e., 3 fractures per second across the globe. Also, Vitamin K2 reduces inflammation in rheumatoid arthritis synovial cells. Vitamin K2 is essential for the body to utilize calcium and build healthy strong bones.

Vitamin-K2-Market

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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

  • 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.
  • 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.
  • Rising Awareness Regarding Health Amongst People – The awareness of healthy eating, nutrition, and weight loss raised the sector from USD 900 billion in 2019 to USD 950 billion in 2020.
  • Growth of Pharmaceutical Companies – In 2020, federal government spending on health care has grown to 36% from 59% in 2019.
  • 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
  • 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 2031 in the global vitamin K2 market size on account of an increasing number of cases of vitamin deficiency. 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 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.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5,355.79, which grew from USD 3,515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Vitamin K2 Market Regional Synopsis

Regionally, the global vitamin K2 market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share over the forecast period 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. The surge in healthcare costs and boosting demand from pharmaceutical industries, food and beverage companies, and cosmetic industries 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.

Vitamin-K2-Market-Size

The global vitamin K2 market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global vitamin K2 market includes the following segments:

 

By Type

 

                • MK-7

                • MK-4

                • Others

 

By Source

              • Natural

              • Synthetic

 

By Application

 

              • Nutraceuticals

              • Food

             • Pharmaceuticals

Top Featured Companies Dominating the Global Vitamin K2 Market

  • 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 Hakko Bio Co., Ltd.
  • International Flavors & Fragrances Inc.

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