The Global Vitamin K2 Market size is expected to reach $297.1 million by 2031, rising at a market growth of 13.3% CAGR during the forecast period.
The region's rapid economic growth, increasing disposable incomes, and growing health and wellness awareness have fueled the demand for dietary supplements, including vitamin K2. Countries such as Japan, China, South Korea, and India are key contributors to this region's market growth. The growing middle class in these countries is becoming more health-conscious, seeking ways to enhance their well-being through nutritional supplementation. Thus, the Asia Pacific region acquire 37% revenue share in the market 2023.
The number of individuals aged 60 years and older is projected to rise from 1 billion in 2020 to 1.4 billion by 2030 and is projected to reach 2.1 billion by 2050, according to the World Health Organization (WHO). This growing aging population is accompanied by a higher prevalence of age-related health issues, particularly bone-related disorders such as osteoporosis.
Additionally, Consumers are increasingly inclined to pursue products that provide additional health benefits, such as those that are fortified with vitamin K2, as their awareness increases. Thus, incorporating vitamin K2 into functional foods and beverages is expanding the market for this vital nutrient and contributing to the broader movement towards healthier eating and preventive healthcare.
However, the production of vitamin K2, particularly through advanced biotechnological methods and sophisticated extraction processes, presents a significant financial challenge for manufacturers. These processes often involve complex and costly technologies that ensure the high purity, stability, and bioavailability of the vitamin K2 produced. Thus, the lack of consumer awareness about vitamin K2 and its specific health benefits is a significant barrier to market growth.
The region's rapid economic growth, increasing disposable incomes, and growing health and wellness awareness have fueled the demand for dietary supplements, including vitamin K2. Countries such as Japan, China, South Korea, and India are key contributors to this region's market growth. The growing middle class in these countries is becoming more health-conscious, seeking ways to enhance their well-being through nutritional supplementation. Thus, the Asia Pacific region acquire 37% revenue share in the market 2023.
The number of individuals aged 60 years and older is projected to rise from 1 billion in 2020 to 1.4 billion by 2030 and is projected to reach 2.1 billion by 2050, according to the World Health Organization (WHO). This growing aging population is accompanied by a higher prevalence of age-related health issues, particularly bone-related disorders such as osteoporosis.
Additionally, Consumers are increasingly inclined to pursue products that provide additional health benefits, such as those that are fortified with vitamin K2, as their awareness increases. Thus, incorporating vitamin K2 into functional foods and beverages is expanding the market for this vital nutrient and contributing to the broader movement towards healthier eating and preventive healthcare.
However, the production of vitamin K2, particularly through advanced biotechnological methods and sophisticated extraction processes, presents a significant financial challenge for manufacturers. These processes often involve complex and costly technologies that ensure the high purity, stability, and bioavailability of the vitamin K2 produced. Thus, the lack of consumer awareness about vitamin K2 and its specific health benefits is a significant barrier to market growth.
Driving and Restraining Factors
Drivers- Growing proportion of the aging population
- Rising demand for functional foods and beverages
- Advances in biotechnology and extraction processes
- High production costs of vitamin K2
- Unfamiliarity of consumers with vitamin K2
- Continuous research and development activities
- Shift towards preventive healthcare and natural products
- Competition from other supplements
- Lack of conclusive clinical evidence
Product Outlook
Based on product type, the market is bifurcated into MK-4 and MK-7. The MK-4 segment procured 29% revenue share in the market in 2023. MK-4, or menaquinone-4, is a shorter-chain vitamin K2 found in animal products and certain dietary supplements. MK-4 is known for its rapid uptake by tissues, particularly in the brain, kidneys, and pancreas.Form Outlook
On the basis of form, the market is classified into capsules & tablets, powder & crystalline, and oils & liquid. The powder & crystalline segment acquired 55% revenue share in the market in 2023. The versatility of powder and crystalline forms allows for easy incorporation into various food matrices, making it an ideal choice for manufacturers looking to enhance the nutritional profile of their products.Application Outlook
Based on application, the market is segmented into pharmaceutical, functional food & beverages, and health supplements. The pharmaceutical segment acquired 25% revenue share in the market in 2023. Prescription medications containing are often recommended for patients with specific health conditions that require targeted intervention.Source Outlook
By source, the market is divided into natural and synthetic. The natural segment witnessed 61% revenue share in the market in 2023. The natural segment includes vitamin K2 derived from natural sources such as fermented foods, animal products, and plant-based ingredients.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured 27% revenue share in the market in 2023. Europe has a long-standing tradition of valuing health and wellness, with a strong consumer base that is highly conscious of nutritional supplementation.List of Key Companies Profiled
- Balchem Corporation
- Novozymes A/S (Novo Holdings A/S)
- BASF SE
- Lonza Group Ltd. (Capsugel)
- Haihang Industry Co.,Ltd. (Haihang Group)
- AngelYeast Co., Ltd.
- Kyowa Hakko USA, Inc.
- Lesaffre Group
- DSM Nutritional Products
- Herbalife International, Inc.
Market Report Segmentation
By Product Type- MK-7
- MK-4
- Powder & Crystalline
- Capsules & Tablets
- Oils & Liquid
- Health Supplements
- Pharmaceutical
- Functional Food & Beverages
- Natural
- Synthetic
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Vitamin K2 Market by Product Type
Chapter 5. Global Vitamin K2 Market by Form
Chapter 6. Global Vitamin K2 Market by Application
Chapter 7. Global Vitamin K2 Market by Source
Chapter 8. Global Vitamin K2 Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Balchem Corporation
- Novozymes A/S (Novo Holdings A/S)
- BASF SE
- Lonza Group Ltd. (Capsugel)
- Haihang Industry Co.,Ltd. (Haihang Group)
- AngelYeast Co., Ltd.
- Kyowa Hakko USA, Inc.
- Lesaffre Group
- DSM Nutritional Products
- Herbalife International, Inc.
Methodology
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