Vitamin K2, or menaquinones, is a group of compounds that is known for their ability to check cardiovascular diseases and bone diseases. The vitamin assists in the absorption of calcium by the bone matrix and arrests its deposition in the arteries.
Vitamin K2 Market Overview:
Several factors like the rise in the number of geriatric populations, increasing cases of osteoporosis, better pharmaceutical developments to backup the production of the vitamin, and others expected to take the global vitamin K2 market forward. Growing awareness regarding the treatment can also solidify the market claim of vitamin K2.
Increasing rate of vitamin deficiency disorders has created the need for nutraceuticals or supplements inclusive of vitamin K2. In addition, benefits of the vitamin which can reduce the possibility of bone and cardiovascular disorders is likely to spur market growth.
Market Research Future (MRFR) in their latest report on the market revealed that the process would witness a 31.08% CAGR set to score a valuation of USD 228.27 million during the growth period of 2018 to 2023.
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Market Segmentation:
The global vitamin K2 market, as recorded in the report of the MRFR, can be segmented into product type, source, form, and application. This segmentation provides a better insight regarding factors that can trigger change in the market of the coming years.
Based on the product type, the global vitamin K2 market can be segmented into MK-4, MK-7, and others. the ‘others’ segment includes MK-5, MK-8, MK-9, and MK-10. The MK-7 had a coverage of around 71.61% market share in 2017. The MK-7 segment has the potential to cross a valuation of USD 165.91 million by 2023. The MK-4 segment can surpass USD 48.93 million with a 30.63% CAGR during the forecast period.
Based on the source, the vitamin K2 market can be segmented into natural and synthetic. The natural segment had over 64.88% share in 2017. The natural source has the potential to garner a 30.72% CAGR during the forecast period and surpass a valuation of USD 145.73 million by 2023. On the other hand, the synthetic segment can cross the estimated valuation of USD 82.54 million by 2023 by taking a speed of around 31.73% CAGR over the review period.
Based on the form, the vitamin K2 market can be segmented into oil and powder. The powder had 52.75% of the global market share in 2017 and can be of worth USD 117.89 million by 2023 by registering a growth at 30.62% CAGR during the review period.
Based on the applications, the global vitamin K2 market can be segmented into nutraceutical & food and pharmaceutical. The nutraceutical & food had a market coverage of 85.46% in 2017 and is expected to showcase 30.91% CAGR to generate a valuation of USD 193.57 million by 2023.
Major Key Players Competitive Analysis:
Several companies are showing keen interest in the global vitamin K2 market. These companies are triggering strong growth for the market by implementing various strategic moves like merger, acquisition, product launch, innovation, collaboration, and others. MRFR, while analyzing the benefits of this vitamin K2 market enlisted top companies and profiled them for a better understanding of the market flow. These companies are Kappa Bioscience (Norway), Seebio Biotech (China), DSM (The Netherlands), Geneferm Biotechnology Co. Ltd. (Taiwan), Gnosis SpA (Italy), Kyowa Hakko Bio Co. Ltd. (Japan), Frutarom (Israel), Viridis BioPharma (India), NattoPharma (Norway), and Danisco A/S (U.S.)
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Industry Opportunity
Multifunctional ingredients have become the rage in the pharmaceutical industry due to their ability to maintain taste, texture, and extend shelf life of foods. In addition, its potential to increase the dosage of nutraceutical and pharmaceutical formulations is likely to bode well for the vitamin K2 market. The aging populace offers a bright opportunity for manufacturers to innovate and produce beverages and foods which can enhance bone health.
Regional Analysis:
In July 2019, a report got published in the Arteriosclerosis, Thrombosis, and Vascular Biology journal where it made a claim that vitamin K2 can stall the symptoms of aneurysms. This can open up a different pharmaceutical approach giving thrust to the intake of vitamin K2.
Region-specific take of the global vitamin K2 market is founded on namely Europe, Asia Pacific (APAC), the Americas, and the Middle East & Africa (MEA). The study aims at providing an in-depth analysis various demographic challenges that the market faces to progress. The market is getting dominated by the Americas who had 42.93% market share in 2017, with Europe closely following them with 38.87%. Europe has the potential to climb up with the fastest CAGR of 32.45% during the forecast period to reach USD 94.5 million valuation. The Americas is expected to gain mileage from government projects and rising number of registered cases. The APAC market has the potential to score USD 31.11 million valuation by 2023 at a 29.51% CAGR over the forecast period.
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5 Market Factor Analysis
- 1 Porter’s Five Forces Model
- 1.1 Bargaining Power Of Suppliers
- 1.2 Bargaining Power Of Buyers
- 1.3 Threat Of New Entrants
- 1.4 Threat Of Substitutes
- 1.5 Rivalry
- 2 Supply Chain Analysis
- 2.1 Raw Material Planning & Procurement
- 2.2 Packaging
- 2.3 Transportation
- 2.4 Distribution Marketing & Sales
- 2.5 Post-Sales Services
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