Vitamin K2 Market Overview
MRFR (Market Research Future) presumes that the vitamin K2 market 2020 should touch USD 228.27 million by 2023. MRFR also expects the market size to burgeon at a rate of 31.08% between 2018 and 2025 (review period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
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Top Boosters and Deterrents
Surge in clinical researches focused on developing vitamin K2 products across developed countries can stimulate the market growth over the upcoming timeframe. Researchers as well as scientists are striving to study the importance of vitamins among infants and adults. A number of institutes are engaged in analyzing the intestinal absorption and bioavailability of phytonadione and menadione that help healthcare professionals in comprehending the metabolism process. Also, scientists have come up with drugs and medications that help treat infants afflicted with bleeding disorders. In a nutshell, mounting number of R&D activities can foster the demand for vit k, which could mean significant revenues in the following years.
Dietary and lifestyle changes cause vitamin k deficiency, and this has been the case in both developed and developing nations. This is proving to be quite beneficial for the vitamin K2 market, in view of the increased product demand. Inactive lifestyle along with the rising consumption of unhealthy and junk food is making people susceptible to chronic ailments, pushing them to focus on the intake of vitamin that offers several health benefits. Rise in coagulation disorders in the wake of the prevalence of the sedentary lifestyle as well as unhealthy eating habits is leading to enhanced uptake of phytonadione and menadione supplements among those affected. Also, with the escalating cases of osteoporosis worldwide, the need for k2vital has grown significantly, which is the most active and purest Vit K2 and ensures that the bone mass receives the calcium. This has also given a boost to the consumption of vitamin d3, since it helps maintain the bones’ strength and prevent osteoporosis as well as rickets. The increasing incidences of vitamin deficiency disorders in emerging regions like Asia Pacific and Africa can present a number of lucrative opportunities to the global firms in the near future.
Moving forward, the competitive scenario of the market is quite intense, with a majority of players focusing on adopting strategies such as collaborations, product launches, acquisitions, partnerships and mergers to remain ahead of their counterparts. To illustrate, in June 2020, vitamin K2 provider NattoPharma partnered with omega-3 fish oil vendor KD Nutra (US) to develop cardiovascular health supplements. This partnership will entail development of products that are a combination of NattoPharma’s Vit K2 type MenaQ7 PharmaPure MK-7 and KD Nutra’s high concentrate omega-3s called KD-PüR. NattoPharma is expected to sell the new supplements on the K2ardio3 Platform, providing various custom formulations including CV ingredients like plant sterols.
Vitamin K2 Market Segmentation
Vitamin K2 Market has been segmented with respect to product type, source, form, and application.
In terms of product type, the global market can be considered for MK-7, MK-4, and others. ‘Others’ segment comprises MK-8, MK-5, MK-10 and MK-9.
Two key sources mentioned are natural as well as synthetic.
The forms studied are powder and oil. The powdered form of vitamin can take the lead in the global industry, since this form dissolves faster in water or any other liquid.
Major market applications are pharmaceutical and nutraceuticals & food.
Vitamin K2 Market Regional Study
Vitamin K2 industry can be geographically split into Europe, the Americas, the Middle East & Africa (MEA) along with Asia Pacific (APAC).
The American market clinched the leading position in 2017 and could continue to do so over the next several years, thanks to the rising need to curb the rising healthcare costs and the increased focus on wellness and health among consumers. The trend of herbal medicines, rising prevalence of vit K related disorders such as osteoporosis, neonatal bleeding, diabetes, vascular calcification and arthritis will also bode well with the market in the years to come. Other encouraging factors can be the prevalence of sedentary lifestyle, lack of exercise and rising consumption of junk food that could boost the chances of acquiring chronic diseases in the region.
Europeans are known for their reduced intake of phytonadione and menadione in their diets. This is leading to a surge in postmenopausal bone loss as well as arterial calcification, especially among those having diabetes and chronic renal disease. This is one of the key issues faced by the continuously expanding geriatric pool in the region, thereby necessitating the need for vit K2 and more nutrients. The increased demand for effective osteoporosis management also pushes the regional market’s growth.
Vitamin K2 Market Reputed Companies
DSM (The Netherlands), Seebio Biotech (China), Geneferm Biotechnology Co. Ltd. (Taiwan), NattoPharma (Norway), Frutarom (Israel), Kappa Bioscience (Norway), Danisco A/S (U.S.), Viridis BioPharma (India), Kyowa Hakko Bio Co. Ltd. (Japan), Gnosis SpA (Italy), are some of the highly reputed companies in the worldwide industry.
- Base Year – 2017
- Projection Period – 2018 to 2023
- Market Valuation – USD Million
- Market Volume – Tons
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