Vitamin K2 Market: Current Analysis and Forecast (2022-2028)

The vitamin K2 Market is expected to grow at a steady rate of around 25% during the forecast period. Vitamin K2 is naturally produced in human intestines by bacteria. The western diet is deficient in vitamin K2; hence pharmaceuticals and supplemental diets are required to provide vitamin K2. The market is expanding as a result of an expanding patient base with vitamin deficiencies, rising demand for products containing Vitamin K2, and rising cases of arthritis. For instance, according to the Centers for Disease Control and Prevention (CDC), around 1 in 4 US adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis.

Along with calcium and vitamin D, vitamin K2 may be an effective supplement for the treatment of osteoporosis that is toxic-free and comparable to bisphosphonate therapy. By reducing arterial calcification, it may also considerably reduce cardiovascular morbidity and mortality. In the cases of diabetes, cancer, and osteoarthritis, vitamin K2 appears promising. Although a dosage adjustment is necessary, the use of vitamin K during warfarin medication is safe and may help with INR (International Normalized Ratio) control.

Based on source, the market is segmented into natural and synthetic. Among them, synthetic category to witness higher CAGR during the forecast period. The high rate of production, an increase in vitamin deficiency disorders, increasing health awareness, and substantial economic expansion for nutritional supplements are the major factors for the growth of the vitamin K2 market.

On the basis of product, the market is categorized into MK-4, MK-7, and others. Among these, the MK-7 to hold a significant share in the market in 2020. This is mainly due to the growing usage of dietary supplements rising cases of coronary artery diseases because MK-7 based vitamin's reduces the risk of coronary artery diseases, and vitamin K2 as MK-7, improves bone density by making blood vessels softer and bones harder.

Based on application, the vitamin K2 market has been classified into pharmaceuticals, nutraceuticals & food, and others. The pharmaceuticals category is to witness a significant growth rate during the forecast period. This is mainly due to the changing food habits, changing lifestyle, health awareness, and standard of living. Also, the applications of vitamin K2 is useful in pharmaceutical industry focusing on dental, CVDs, and bone related deficiencies which will drive the market growth during the forecast period.

For a better understanding of the market adoption of the vitamin K2 industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the prevalence of effective medical facilities in nations like the United States and Canada, the rising use of herbal medicines, increasing healthcare expenditures, and the government's emphasis on health and wellness. Moreover, the inclination toward living a healthy life is leading to the growing consumption of supplements including vitamin K2 and the expansion of the food and beverage and cosmetic industries are the driving factors for the expansion of the regional market.

Some of the major players operating in the market include: DSM, SEEBIO BIOTECH (SHANGHAI) CO., LTD., Viridis BioPharma Pvt. Ltd., Lesaffre, KYOWA HAKKO BIO CO. LTD., International Flavors & Fragrances Inc., GeneFerm Biotechnology Co. Ltd., DuPont, Kappa Bioscience, Vox Nutrition