WASHINGTON, Jan. 25, 2022 (GLOBE NEWSWIRE) -- The Global Vitamin K2 Market size is expected to reach USD 705.8 Million by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 25.8% during the forecast period. The number of cases of vitamin K2 deficiency is increasing because of changing lifestyle as well as food related habits. Vitamin K2 is produced in human guts by bacteria naturally. Vitamin K2 is very rare in western diet and it has become necessary to involve vitamin K2 through the supplementary diet and pharmaceutical products, states Vantage Market Research, in a report, titled “Vitamin K2 Market by Product (MK-7, MK-4, Others), by Source (Natural, Synthetic), by Form (Oil, Powder, Others), by Application (Nutraceutical, Food, Pharmaceuticals), by Region (North America, Latin America, Europe, Asia Pacific) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”. The market size was valued at USD 450.5 Million in 2021.
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Market Dynamics:
Growing Demand for Nutraceutical Products Containing Vitamin K2
In past few years, the number of cases of vitamin deficiency has been increased and vitamin deficiency disorders are one of the major factors increasing demand for nutraceuticals containing vitamins. Additionally, the Vitamin K Deficiency Bleeding (VKDB) is a situation where babies can’t stop bleeding because their blood does not have enough Vitamin K present to form a clot. Vitamin K deficiency bleeding is now have become a serious concern with its growing prevalence rate in different countries around the globe.
Stringent Regulations for Nutraceuticals to Hinder the Market Growth
The players operating in the nutraceuticals market are required to fulfil several rules and regulations that are set by governments to meeting the standards set by them. There are concerned authorities who are responsible for setting regulations, controlling permits, for new players entry is restricting the market growth. In addition, other issues related to residual management coupled with inspection for the expiry dates of certain products like dietary supplements holding the market growth back.
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COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Vitamin K2 Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
North America Dominates the Global Vitamin K2 Market
North America is expected to have largest regional market share driven by the growing adoption of herbal medicines, increasing healthcare investment, government focus on health and wellness, coupled with presence of efficient medical facilities in countries like the U.S. and Canada. Growth and development in food & beverage, and cosmetic industry is another factor driving regional market growth.
List of Prominent Players in the Vitamin K2 Market:
- Kappa Bioscience
- NattoPharma
- GNOSIS S.p.A.
- Viridis Bio Pharma
- Seebio Biotech
- DSM, DuPont
- Geneferm Biotechnology Co. Ltd.
- International Flavors & Fragrances, Inc.
- KYOWA HAKKO BIO CO., LTD
Key questions answered in the report include:
- This report gives all the information about the industry analysis, revenue, and overview, of this market.
- What will be the the rate of increase in market size and growth rate by the end of the forecast period?
- What are the major global Vitamin K2 market trends influencing the development of the market?
- What are the vital results of SWOT analysis of the major players operating in the Vitamin K2 market?
- What are the potential growth opportunities and threats faced by Major competitors in the market?
- What are the market opportunities and threats faced by vendors in the Global Vitamin K2 market?
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Recent Developments:
February, 2020: Lesaffre has opened a new baking centre in Abidjan, Ivory Coast, which aims to aid the creation of products which meet local requirements. The facility will be operated by the company’s Lesaffre Ivoire subsidiary, and is Lesaffre’s first baking centre in West Africa. Lesaffre Ivoire has been based in Abidjan since 2004 and distributes yeasts and bread improvers throughout the Ivory Coast. It is also the commercial and technical support base for much of Lesaffre’s West and Central African operations.
May 2020: Kappa Bioscience (Oslo, Norway) introduced an educational program called “D3 & K2: The Perfect Pair.” The series shows how vitamins D3 and K2 work together, specifically for bone and cardiovascular health-from scientific evidence to market success. New research shows this duo helps regulate calcium absorption and utilization and how the two vitamins work better together.
May 2021: Gnosis by Lesaffre (Lille, France), supplier of vitaMK7, acquired NattoPharma, supplier of MenaQ7. The two companies will collaborate to leverage their combined capabilities to set a roadmap for the future of vitamin K2.
This market titled “Vitamin K2 Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 450.5 Million |
| Projected Market Size in 2028 | USD 705.8 Million |
| CAGR Growth Rate | CAGR of 25.8% from 2022–2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Product: - MK-7, MK-4, Others Source: - Natural, Synthetic Form: - Oil, Powder, Others Application: - Nutraceutical, Food, Pharmaceuticals |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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