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 2023-2035
Buy Now Report ID: 4278 | Published Date: Feb 13, 2023
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.
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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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Growth Drivers
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.
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.
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
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.
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.
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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By Form |
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Kappa Bioscience Group
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.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing vitamin k deficiency, and rising awareness regarding health amongst people are the major factors driving the growth of the vitamin K2 market.
Ans: The market is anticipated to attain a CAGR of ~26% over the forecast period, i.e., 2023 – 2035.
Ans: Regulations for nutraceuticals and issues related to expiry dates are estimated to hamper the market growth.
Ans: The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Kappa Bioscience Group, Gnosis by Lesaffre, Koninklijke DSM N.V., Viridis BioPharma Pvt. Ltd., DuPont, Seebio Biotech (Shanghai) Co., Ltd, Geneferm Biotechnology Co., Ltd., Kyowa Hakko Bio Co., Ltd, International Flavors & Fragrances Inc.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, source, application, and by region.
Ans: The nutraceuticals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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