Global Vitamin K2 Market growing at a CAGR of 14.6% from 2023 to 2030
Category : Healthcare | Published Date : May 2023 | Type : Press Release
Key Market Overview
In 2022, the global vitamin k2 market was USD 701.88 million. According to Consegic Business Intelligence, the market is projected to grow with a CAGR of 14.6% to reach USD 2,062.00 million in 2030.
The report highlights the increasing prevalence of cardiovascular disease and osteoporosis leading to increased consumption of vitamin k2. 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.
Global Vitamin K2 Market By Overview
The vitamin k2 market is bifurcated into product type, source, form, and application. Based on product type the market is segmented into MK-4, MK-7, and others. In 2022, the MK-4 segment dominate in the overall vitamin k2 market. The source segment is categorized into natural and synthetic. In 2022, the natural segment accounted for the highest market share in the vitamin k2 market. Based on form segment, the market is classified into capsules & tablets, powder, and oil. In 2022, the capsules & tablets segment accounted for the highest market share in the vitamin k2 market. The application segment is categorized into nutraceutical & food and pharmaceuticals products. In 2022, the nutraceutical & food application segment accounted for the highest market share in the vitamin k2 market.
Get Free SampleMarket Dynamics
Driver:
- The increasing intake of vitamin K2 to reduce the risk associated with coronary heart disease is contributing to the growth of the market.
- The ability of vitamin k2 to improve bone health and lower the risk of osteoporosis is propelling the market growth.
Restraints:
- Adverse side effects associated with vitamin K2 including, bloody diarrhea, nausea, upset stomach are likely to hinder the market growth of vitamin k2.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | MK-4, MK-7, and Others |
| By Source | Natural and Synthetic |
| By Form | Capsules & Tablets, Powder, and Oil |
| By Application | Nutraceutical & Food and Pharmaceuticals Products |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Anderson Global Group, LLC, BASF SE, and Kappa Bioscience (Balchem Corporation) have a strong market position in current market circumstances. Further, the vitamin k2 market is expected to witness significant growth in the coming years due to the increased prevalence of neurological disorders. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in vitamin k2 are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Anderson Global Group LLC
- BASF SE
- Kappa Bioscience (Balchem Corporation)
- Vox Nutrition
- Lesaffre
- Purayati
- Viridis BioPharma
- Lexicare Pharma Pvt. Ltd.
- AdvaCare Pharma
- Glanbia plc
