Vitamin K2 Market

Rising patient pool suffering from vitamin deficiency to drive growth

Vitamin deficiency cases have been steadily increasing in recent years. The increase in vitamin-deficient illnesses is driving up demand for vitamin-containing nutraceuticals. The deficit of vitamin K2 is another issue. Babies with VKDB (Vitamin K2 Deficiency Bleeding), a condition in which their blood lacks adequate Vitamin K2 to clot, cannot stop bleeding. The importance of vitamins for overall health and their advantages for the human body, especially the bones, is backed by substantial clinical evidence. As of 2021, 44 million Americans had a low bone density, and about 10 million had osteoporosis.

This factor will increase sales of vitamin K-based products such as pharmaceutical-grade injections, food fortification, oral supplements, and dietary supplements.

Another important factor driving the increase in vitamin K2 consumption is osteoporosis and an increase in aesthetic standards. The human body's ability to grow new tissues is hampered by osteoporosis. As a result, there will continue to be a high demand for medications containing vitamin K2. According to the 2019-20 Osteoporosis Foundation statistics, more than 38 million people worldwide have osteoporosis.

The demographic shift towards an aging population is a significant factor influencing the Global Vitamin K2 Market Industry. As the global population ages, the demand for supplements that support bone and cardiovascular health is likely to increase. Older adults are particularly vulnerable to osteoporosis and cardiovascular diseases, which Vitamin K2 is believed to help mitigate. This demographic trend suggests that the market could see substantial growth, with projections indicating a rise to 4500 USD Million by 2035. The aging population's specific health needs create a fertile ground for Vitamin K2 products, thereby driving the market forward.

Regulatory frameworks supporting the use of Vitamin K2 in dietary supplements are fostering growth in the Global Vitamin K2 Market Industry. Governments and health organizations are increasingly recognizing the health benefits of Vitamin K2, leading to favorable regulations that facilitate its inclusion in food products and supplements. This regulatory support not only enhances consumer confidence but also encourages manufacturers to invest in Vitamin K2 product lines. As a result, the market is poised for expansion, with projections indicating a potential increase in value to 4500 USD Million by 2035. This supportive regulatory environment is a crucial driver for the Global Vitamin K2 Market.

The Global Vitamin K2 Market Industry is experiencing a surge in demand driven by increasing health consciousness among consumers. As individuals become more informed about the benefits of Vitamin K2, including its role in bone health and cardiovascular function, the market is projected to reach 1500 USD Million in 2024. This heightened awareness is prompting consumers to seek dietary supplements and fortified foods rich in Vitamin K2, thereby expanding the market's reach. The trend is particularly evident in regions with aging populations, where the need for bone health support is paramount. Consequently, this growing health awareness is a key driver of the Global Vitamin K2 Market.

Innovation in product formulation and delivery methods is propelling the Global Vitamin K2 Market Industry. Manufacturers are increasingly focusing on developing new supplements that enhance bioavailability and efficacy, such as combining Vitamin K2 with other essential nutrients. This innovation not only attracts health-conscious consumers but also caters to specific dietary preferences, including vegan and organic options. As a result, the market is likely to experience a compound annual growth rate of 10.5% from 2025 to 2035. The introduction of innovative products is essential for maintaining competitiveness in the Global Vitamin K2 Market.

The Global Vitamin K2 Market Industry is benefiting from increased investment in research and development. Scientific studies are continuously uncovering new health benefits associated with Vitamin K2, including its potential role in reducing the risk of chronic diseases. This growing body of research is likely to enhance consumer trust and stimulate demand for Vitamin K2 products. As more evidence emerges, manufacturers are motivated to develop targeted marketing strategies that highlight these benefits. The ongoing R&D efforts are expected to contribute to a robust market growth trajectory, with a projected value of 1500 USD Million in 2024.

By Region, the study provides market insights into Europe, North America, Asia-Pacific, and the Rest of the World. The North American vitamin K2 market is expected to grow at a significant CAGR during the study period, accounting for USD 37.14 billion in 2021, owing to rising herbal medicine adoption, increased consumer focus on health and wellness, rising healthcare costs, and increased demand from pharmaceutical, food and beverage, and cosmetic industries. The growing regional demand for vitamin K-based dietary supplements propels the vitamin k market forward.

The rising prevalence of arthritis, osteoporosis, and cardiovascular disease will drive product sales in North America.

In addition, the major countries covered in the vitamin K2 market are the United States, Germany, Canada, France, the United Kingdom, Italy, Spain, Japan, India, Australia, China, South Korea, and Brazil.

Figure 3: VITAMIN K2 MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

The European vitamin K2 market is the world's second-largest, owing to increasing disposable income, an increasing number of working women looking for nutritional supplements to help them in their daily lives while away from home, and an increase in chronic diseases due to changing lifestyle patterns. Growing consumer awareness of vitamin K2 and rising demand for vitamin K2 in the United Kingdom, France, and Germany will likely support the vitamin k supplement market over the forecast period.

Further, the U.K. vitamin K2 market held the largest market share, and the France vitamin K2 market was the fastest-growing market in the European region.

The Asia Pacific vitamin K2 market is expected to grow at the fastest CAGR during the forecast period due to numerous market opportunities, such as an aging population, rising health concerns, and an increasing patient pool suffering from vitamin deficiency. Due to the quickly increasing demand from end-users like ultra-premium infant formula, dietary supplements, and medical foods, the Asia Pacific region is predicted to hold a sizable share of the global Vitamin K market and emerge as a leading consumer.

Moreover, rising healthcare costs and consumers' increased focus on health and wellness will likely catalyze regional market growth in the coming years.

Players in the vitamin K2 market use various development strategies, including product launches, partnerships, mergers, acquisitions, etc., to maintain industry competition and increase global market share. The global market is distinguished by a broad range of supply channels created by the market participants already in place, where each business uses slightly or completely different supply protocols. The majority of the dominant major industry players have long-term agreements with enormous regional and local sales representatives, who guarantee consistent and widespread sources of the products, strengthening the positions of the businesses in the global market.

In recent years, funding levels have increased, and global vitamin K2 providers have invested significantly in product development and innovation. The demand for longer life expectancies, increasing disposable income, and increasing investment in self-care are driving up the investment by regional players. Players in the market have recently been engaged in R&D activities to create products with greater accuracy and efficiency. Additionally, the market participants are implementing marketing strategies like campaigns, remarketing, and discounted prices.

Lesaffre is a French yeast manufacturing company and the world's largest producer of vitamin K2. Lesaffre acquired NattoPharma, a Vitamin K2 specialist, in May 2021, broadening its product offering in the human health and nutrition market. Additionally, this acquisition improved the business's research and marketing division for vitamin K2.

Kappa Bioscience is a specialized ingredients manufacturer that creates and sells high-purity vitamin K2 (MK-7). Kappa Bioscience was the first to develop and manufacture the only synthesized and bioactive all-trans menaquinone-7 (vitamin K2 MK-7), marketed under the brand name K2VITAL. Kappa Bioscience planned to expand its operations in the United States in February 2021. The geographical expansion strategy will increase the company's base of customers and operational facilities, resulting in increased nutraceutical production.