New York, May 15, 2023 (GLOBE NEWSWIRE) -- The global vitamin k2 market is expected to witness significant growth at a CAGR of 14.6% during the forecast period of 2023-2030. The growth is attributed to the increasing use of vitamin k2 in vascular protection, bone development, and metabolic, liver, and renal diseases.
According to a recent report by Consegic Business Intelligence, the vitamin k2 market is poised for strong expansion and is expected to reach 2,062.00 million by 2030. The market, which was valued at USD 701.88 Million in 2022, is predicted to grow at a compound annual growth rate of 14.6% during the period 2023-2030. The Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the vitamin k2 market.
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Global Vitamin K2 Market Size, Share & Trends Analysis, By Type (MK-4, MK-7, and Others), Source (Natural and Synthetic), Form (Capsules & Tablets, Powder, and Oil), Application (Nutraceutical & Food and Pharmaceuticals Products), By Region, Forecast Period 2023 – 2030.
Consegic Business Intelligence Pvt. Ltd. provided an inclusive research report on the vitamin k2 market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as type, source, form, application and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
Vitamin K2 is commonly called menaquinone which is found in dairy, fermented foods, and animal products. It contributes to skin health and bone metabolism, promotes proper brain function, and prevents heart-related diseases.
Vitamin K2 is considered more biologically active and is a cofactor for the carboxylation of proteins and is involved in the production of osteocalcin, which strengthens bones by forming a protein scaffold. This vitamin is also found in cereals, fatty meat, eggs, fish, and is synthesized in large intestine of some bacteria.
Vitamin K2 is highly effective in bone metabolism as compared to vitamin K1. For instance, according to the article published in ScienceDirect, in Japan, a high dose of vitamin K2 (45 mg/day), as menaquinone-4 (MK-4), is used as a therapeutic treatment for osteoporosis. The principal effect of vitamin K2 on osteoporosis is the prevention of bone fracture by improving bone quality, and not increasing bone mineral density. Hence, the aforementioned factor is driving the growth of vitamin k2 market.
Global Vitamin K2 Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 2,062.00 million |
| CAGR (2023-2030) | 14.6% |
| By Type |
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| By Source |
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| By Form |
|
| By Application |
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| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Anderson Global Group, LLC, BASF SE, Kappa Bioscience (Balchem Corporation), Vox Nutrition, Lesaffre , Purayati, Viridis BioPharma, Lexicare Pharma Pvt. Ltd., AdvaCare Pharma, and Glanbia plc |
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Key Market Takeaways
- The global vitamin k2 market size is estimated to exceed USD 2062.00 million by 2030 with a CAGR of 14.6% during the forecast period (2023-2030).
- Based on type, the MK-4 segment accounted for the highest market share of 58.50% in the vitamin k2 market in 2022.
- By source, the natural segment is anticipated to grow at the fastest CAGR during the forecast period.
- Based on form, the synthetic segment accounted for the highest share contribution to the vitamin k2 market statistics in 2022.
- By application, the pharmaceutical segment is anticipated to grow at the fastest CAGR during the forecast period.
- North America is expected to grow at the fastest CAGR of 16.2% over the forecast period due to growing investments in the healthcare sector.
- In 2022, Asia Pacific accounted for the highest market share of 40.45% and was valued at USD 283.91 million, and is expected to reach USD 843.15 million in 2030.
Global Vitamin K2 Market Segmentation Details:
Based on Type, in 2022, the MK-4 segment accounted for the highest market share of 58.50% in the overall vitamin k2 market. MK-4 are largely present in the breast milk of lactating women, and they help in promoting healthy platelet, white, and red blood cell production in people suffering from leukemia. The consumption of vitamin k2 also helps in maintaining bone metabolism and reducing the 80% chance of bone fracture.
Further, MK-4 vitamin improves brain health by promoting healthy nerve production and reduces the chances of development of liver cancer, and also decreases the recurrence of liver cancer.
Based on Source, the natural segment is anticipated to grow at the fastest CAGR during the forecast period. This is due to the increased consumption of dietary supplements which are rich in vitamin k2 and plays an important role in maintaining bone metabolism and reducing heart diseases. For instance, Eel is a seafood alternative and is rich in vitamin k2 which helps in reducing cardiovascular disease risk factors, such as high triglyceride levels which proliferates the market growth.
Based on Form, in 2022, the capsules & tablets segment accounted for the highest market share in the overall market. Vitamin k2 tablets are used to reduce inflammation which is responsible for the initiation and progression of many diseases, including cardiovascular disease, cancer, diabetes, obesity, and depression, alos vitamin k2 tablets are used to reduce inflammation.
Furthermore, vitamin k2 tablets are used to improve bone density and reduce the risk of bone fractures, and improve cardiovascular health. For instance, according to the data published in the National Library of Medicine, in 2020, one in two Americans over age 50 developed osteoporosis of the hip. Hence, the increasing prevalence of hip fractures is driving the demand for vitamin k2.
Based on Application, the nutraceutical & food segment accounted for the highest market share in the overall vitamin k2 market. The increasing patient pool suffering from vitamin deficiency, increased demand for nutraceutical goods containing Vitamin K2, and rising incidences of osteoporosis and arthritis are all contributing to market expansion.
Further, according to the article published in the National Library of Medicine, the National Academy of Science Food and Nutrition Board recommended at least 120 and 90 ug/day intake of vitamin k2 for men and women respectively by diet or oral supplementation due to increasing deficiency of vitamin k in adults. Hence, the aforementioned factor is driving the market growth.
Based on Region, in 2022, North America is expected to grow at the fastest CAGR over the forecast period owing to the rise in demand for functional and nutritionally enriched processed food products and the growing incidence of vitamin deficiencies. For instance, according to the report published by Statista, in 2019, the market for vitamin and mineral supplements in the U.S. was approximately USD 21.4 billion and is forecasted to reach USD 30.5 billion in 2025. Hence, the increasing use of vitamin supplements is driving the market growth in the region.
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Competitive Landscape
As per the research, BASF SE, Anderson Global Group, LLC, and Kappa Bioscience (Balchem Corporation) are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the vitamin k2 market is expected to grow steadily due to increasing investment in the healthcare sector, especially in the North America and Europe regions. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In June 2022, Balchem Corporation announced the acquisition of Kappa Bioscience for approximately USD 340 million for developing superior quality health solutions using vitamin K2 to enhance the quality of life.
- In October 2022, Kappa Bioscience announced the launch of the first USDA organic-certified all-bioactive vitamin K2-MK7 for oil-based health applications to the US market.
List of Major Global Vitamin K2 Market:
- Anderson Global Group, LLC
- BASF SE
- Kappa Bioscience (Balchem Corporation)
- Vox Nutrition
- Lesaffre
- Purayati
- Viridis BioPharma
- Lexicare Pharma Pvt. Ltd.
- AdvaCare Pharma
- Glanbia plc
Global Vitamin K2 Market Segmentation:
- By Type
- MK-4
- MK-7
- Others
- By Source
- Natural
- Synthetic
- By Form
- Capsules & Tablets
- Powder
- Oil
- By Application
- Nutraceutical & Food
- Pharmaceuticals Products
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Frequently Asked Questions in the Vitamin K2 Market Report
- What was the market size of vitamin k2 in 2022?
- In 2022, the market size of vitamin k2 was USD 701.88 million
- What will be the potential market valuation for vitamin k2 by 2030?
- In 2030, the market size of vitamin k2 will be expected to reach 2,062.00 million.
- What is the key restraint hampering the growth of the vitamin k2 market?
- Stringent regulations for nutraceuticals is likely to hinder the market growth.
- What is expected to be the fastest-growing segment in the vitamin k2 market by type?
- In 2022, the MK-7 segment is expected to be the fastest growing segment in vitamin k2 market.
- Based on current market trends, which geographical region contributed largest share in the market?
- Asia Pacific contributed the largest market share in the vitamin k2 market.
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