USD 142 million
Vitamin K2 Market Size, Share, Growth Analysis, By Function (Bone and Cardiovascular Health, Blood Health and Clotting), By Product Type (MK-4, MK-7), By Form, By Source, By Application, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2355 |
Region:
Global |
Published Date: November, 2024
Pages:
160
|Tables:
88
|Figures:
71
Vitamin K2 Market Insights
Global Vitamin K2 Market size was valued at USD 142 million in 2022 and is poised to grow from USD 161.74 million in 2023 to USD 458.14 million by 2031, growing at a CAGR of 13.90% during the forecast period (2024-2031).
Factors that would drive growth in the vitamin K2 market include rising consumer awareness of health benefits, demographics such as an aging population, a shift in dietary preference toward functional foods, and ongoing research to confirm its therapeutic capability. Vitamin K2, in general, is noted for having positive effects on cardiovascular health, bone health, and general well-being. The demand for Vitamin K2 supplements is predicted to grow as the focus of consumers shifts from treatment to the prevention of chronic illness and maintenance of well-being. SunDevit was first introduced to the Russian market in April 2023 by Petrovax Pharm, one of the leaders in the Russian biotech market, known for its innovative immunobiological medicines and vaccines. This new complex has been developed especially for maintaining healthiness of muscles, bones, and joints and strengthening the immune system. It is characterized by the unique combination of vitamins K2 and D3. Due to the growing rate of diseases such as osteoporosis and cardiovascular disorders worldwide, demand for resourceful products of vitamin K2 is growing. Vitamin K2 is important in maintaining healthy bones since it will help direct calcium to build bones that can lower fracture risks. It is based on studies showing that vitamin K2 could reduce the incidence of cardiac problems and avoid arterial calcification. Interest in vitamin K2 supplements is on the rise with the aging of the population and an increased incidence of these diseases.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceuticals
Fastest Growth
Capsules And Tablets
Growth Rate
13.90%
Global Vitamin K2 Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Vitamin K2 Market Segmental Analysis
Global Vitamin K2 Market is segmented by Function, Product Type, Form, Source, Application, and region. Based on Function, the market is segmented into Bone and Cardiovascular Health, Blood Health and Clotting, and Anti-Inflammatory and Immunity, Other Functions. Based on Product Type, the market is segmented into MK-4, and MK-7. Based on Form, the market is segmented into Capsules & Tablets, Powder and Crystalline, Liquids, and Others. Based on Source, the market is segmented into Natural, and Synthetic. Based on Application, the market is segmented into Pharmaceuticals, Functional Foods and Beverages, Health Supplements. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis By Type
The MK-4 segment accounted for the largest share of the market in 2023 owing to the growing demand for a synthetic menaquinone-4 referred to as MK-4. It has been recorded that MK4 firms up bones by increasing their mineral density, hence giving them a low possibility of fracturing. Consequently, it prevents osteoporosis from developing. It is expected that eating it will reduce the chance of arterial calcification. Healthy cardiovascular health is the outcome of this. Given all these health advantages, there is an increasing need for supplements containing MK4. Smidge, for instance, launched its latest product last October 2023, a premium capsule format from grass-fed Australian emu oil with real food vitamin K2 in MK-4 form. It contains an intense, concentrated formulation of natural ingredients necessary to an ancestral diet that includes omega fatty acids and vitamin K2 from heritage-bred emus in soft gels.
The MK-7 segment is predicted to witness the fastest growth during the forecast period. This is due to menaquinone-7, which is a nature form of MK-7, obtained from fermented food, such as natto. MK-7 is indicated because of its longer half-life and better bioavailability compared to MK-4. The research says MK-7 contributes to good blood coagulation and inhibits arterial calcification, hence making positive contributions to cardiovascular health. An instance is that in February 2024, it was announced that 375 µg Vitamin K2 MK-7 offered by Kappa Bioscience was able to decrease the risk of heart disease due to shrinking arteries in diabetic chronic hemodialysis patients for 24 weeks. Besides, the interest in plant-based and vegan diets increased demand for MK-7 supplements since the latter is often made in sources other than animal origin.
Analysis By Application
The health supplements segment dominated the market in 2023 and is expected to record the highest CAGR during the forecast period. Some growth drivers include growing demand for healthy products, rising awareness relating to health, and increasing consumer awareness about the importance of maintaining good health and wellness. One of the major reasons for the global increase in demand for premium health supplements-including those with vitamin K2-is on account of increasing disposable incomes. In July 2022, the Industry Transparency Center conducted research among 3.5 thousand users of dietary supplements. It turned out that 63% of participants independently managed their health, 76% took dietary supplements, and 62% took vitamin K2, adding it to the top components.
The foods & beverages segment is expected to grow at the fastest rate, due to increased awareness regarding health benefits offered by Vitamin K2. It finds its support from growing trends of aging population and increased cardiovascular disease and osteoporosis. Moreover, food technology developments have enabled the fortification of food products, such as dairy products, beverages, and supplements, with vitamin K2, which further provided momentum for the launching of new vitamin K2-fortified products. A study from October 2022, by the University of Copenhagen and published in the 'International Journal of Nephrology and Renovascular Disease', showed that the vitamin K levels among chronic kidney disease patients who were at risk for deficiency could be well brought up with daily supplements of MK-7 for six weeks in a more effective way than on a diet rich in vitamins concerning deficiency signs.
Global Vitamin K2 Market By Type
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Vitamin K2 Market Regional Insights
Asia Pacific dominated vitamin K2 during 2024-2030, with the highest market share of 36.3%. The rising middle-class population with higher disposable resources and increasing awareness regarding nutritional supplements for maintaining overall health, are factors to consider in the region. For instance, countries such as South Korea and Japan have a culture mainly based on traditional medicines; this leads to them consuming huge amounts of products that are combined with vitamin K2. With better technology for the manufacturing process nowadays, such supplements can be afforded on all economic levels of customers. Regarding demands from industry and recognition of the popular uses of the vitamin in dietary health supplements, in December 2023, MFDS South Korea proposed licensing of vitamin K2 as a health functional food component. A minister, Oh Yu-Kyoung, visited the regional producer GF-Fermentech, which is an indication that the ministry is taking serious efforts to examine this component.
North America is expected to dominate the market significantly. This is due to FDA clearance, along with soaring demand on behalf of consumers for natural products and growing awareness of the benefits of Vitamin K2. The economic factors affecting demand for plant-based K2 include middle-class growth and healthcare expenditure; the other reasons include vegan and vegetarian diets. Technology improvements in manufacturing processes have improved the quality and availability of K2 products. LT Health Solutions, Inc. announced in March 2022 to distribute J-Oil Mills menatto Vitamin K2 (MK-7) throughout North America for bone, cardiovascular, and general health benefits. increasing demand for Vitamin K2 during the forecast period.
Global Vitamin K2 Market By Geography
- Largest
- Fastest
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Vitamin K2 Market Dynamics
Drivers
- Increased Awareness of Bone Health
The vitamin K2 market has witnessed a significant increase due to growing awareness about bone health in people. Public health campaigns and greater media coverage make vitamin K2 a key role in bone mineralization and preventing osteoporosis more often brought to consumers' attention. Demand has been on the rise with increased awareness of the need to maintain good bone health and prevent fractures. The main reasons for increased demand include greater awareness about the benefits of vitamin K2 regarding bone density. Education and awareness drive the proactive approach, hence one of the driving factors that contribute to the growth in the market for Vitamin K2.
- Growing Adoption of Preventive Healthcare
The strategic market move into preventive healthcare has a considerable effect on the vitamin K2 market. A generation that does not wish to suffer from health problems later in life creates increased interest in supplements that offer long-term wellness benefits. Such prevention is, therefore, in line with the profile of Vitamin K2, which is well-acknowledged due to its obvious benefits in the maintenance of bone strength and cardiovascular health. The consumers would not only want to be but would like to be more proactive in keeping chronic ailments at bay, which is increasing the demand for preventative health supplements such as vitamin K2. The trend of proactive health management is largely driving the Vitamin K2 market upwards.
Restraints
- High Costs of Premium Supplements
High costs of premium supplements are one of the major deterring factors in the Vitamin K2 market. High-quality vitamin K2 supplements are more expensive, with some of the products using bioavailable types such as MK-7. This may be a factor in discouraging those customers who have cost sensitivity and preventing the widespread use of vitamin K2. Due to such prohibitive costs of a quality formulation, some customers are predicted to forgo using supplements or switch to cheaper options, which may have affected overall market growth. The cost issue impacts accessibility and perhaps restricts overall growth in the market for vitamin K2.
- Regulatory and Standards Issue
Vitamin K2 faces some of the serious challenges arising due to regulatory and standards concerns. Due to different laws in different countries regarding dietary supplements, it is hard for manufacturers to expand their business to foreign shores. This is partly because there are no global standards for vitamin K2 supplements; as a result, the potency and quality of the products also tend to be inconsistent. These variations in quality, in turn, join with barriers linked to regulation to undermine the confidence of consumers and hence hinder market growth. The inability to work out the conflicting regulations easily, and ensuring quality products, is the greatest obstacle to business growth in vitamin K2 and attracting lots of customers.
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Vitamin K2 Market Competitive Landscape
The Vitamin K2 Market is highly fragmented with the presence of major key players within the sector. Prominent entities in the vitamin K2 market, including NOW Foods, Seebio Biotech, Gnosis SpA, implementing diverse strategies to fortify their market position and expand the scope of their offerings. Partnerships and expansion initiatives are among the primary strategies driving the market's growth.
Top Player’s Company Profiles
- AlloSource (US)
- Smith + Nephew (UK)
- Medtronic (Ireland)
- Orthofix US LLC (US)
- Zimmer Biomet (US)
- Geistlich Pharma AG (Switzerland)
- Stryker (US)
- Biobank (UK)
- DSM Nutritional Products (Switzerland)
- Pharmavit (India)
- Viridis BioPharma Pvt. Ltd. (India)
- Lactonova Nutripharm Pvt. Ltd. (India)
- Gencor Pacific Inc. (US)
- NuScience Trading, LLC (US)
- NutriScience Innovations LLC (US)
- ExcelVite Sdn. Bhd. (Malaysia)
- Parchem Fine & Specialty Chemicals (US)
- Avanscure Lifesciences Pvt. Ltd. (India)
- Health Thru Nutrition (US)
- Ampak Company, Inc. (US)
- Arnet Pharmaceutical (US)
- Swanson Health Products (US)
- AIDP, Inc. (US)
- Ortho Molecular Products (US)
- Evesa Nutritionals (India)
Recent Developments
- In March 2024, SunWay Biotech and Gnosis by Lesaffre have introduced MenaQ7 Metabolic, a vitamin K2 blend with statin-free red yeast rice fermentate Ankascin 568-R for heart and bone health. With over 130 studies confirming its benefits to metabolism, this new ingredient has just obtained a certification of NDI and is Monacolin K-free.
- In April 2023, Kappa Bioscience is renowned for manufacturing vitamin K2 under the flagship brand K2VITAL, and it will showcase, for the first time at Vitafoods Europe, the combined benefits of the all-trans vitamin K2 MK-7 ingredients along with the wide-ranging products from the Balchem Human Nutrition & Health portfolio.
- In June 2022, the deal with Kappa Bioscience, the market-leading manufacturer of vitamin K2, by Balchem Corp. was one intended to be finalized. This calculated agreement was within Balchem's goal of encouraging health and wellbeing. Devoted to developing better health solutions revolving around vitamin K2, Kappa Bioscience aims to improve the quality of life for people.
Vitamin K2 Key Market Trends
- Rising Interest in Functional Foods: The rising interest in functional foods is hugely influencing the vitamin K2 market. Growing numbers of consumers are in search of those meals that can provide more health benefits than just plain nutrition. This trend is driving the addition of Vitamin K2 to a range of functional meals, ranging from plant-based replacements to nutritious bars to strengthened dairy products. The addition of vitamin K2 to such common products by producers is the response to demand for chemicals which improve health. This emphasis on functional foods is a part of a greater wellness trend, one which will increase both the vitamin K2 market and its availability to health-conscious consumers.
- Personalization of Nutrition: This is a trend that continues to shift the dimensions in the vitamin K2 market. Due to advances in genetic testing and personalized health assessments, today customers can customize dietary supplements according to their personal health needs. Vitamin K2 has become increasingly common in tailored nutritional routines owing to its contributions toward bone and cardiovascular health. Personalized supplementation of vitamin K2 stays in demand, as people wish to find more and more tailored solutions for their health profiles. Trending toward personalized nutrition, the trend is promoting product innovation and encouraging companies to offer offerings that can answer very specific health needs.
Vitamin K2 Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the increase in preventive health and more awareness of bone health issues is causing a significant surge in the vitamin K2 market. Vitamin K2 witnesses increasing demand as people look for prevention that guarantees cardiovascular health and bone density. However, high costs pertaining to luxury items and tough mechanisms of regulation thwart the growth of the industry to an extreme extent. This growth and innovation, with functional foods and personal nutrition, introduces a number of challenges. Whether full delivery on the potential and growing requirements of the consumer for vitamin K2 will be fully met depends on whether such challenges get resolved as the industry evolves and embraces new trends in the emergent future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 142 million |
| Market size value in 2031 | USD 458.14 million |
| Growth Rate | 13.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vitamin K2 Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vitamin K2 Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vitamin K2 Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vitamin K2 Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vitamin K2 Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vitamin K2 Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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