Vertical: HealthcareBase Year: 2017
Market Size (2017)
$45.00M
Projected (2023)
$228.27M
CAGR (2015–2023)
31.1%
Key Players
10+
Vitamin K2 is a vital nutrient and plays an important role in the maintenance of well-being. Vitamin K2 is widely used in biopharmaceutical and nutraceutical products. The increasing pool of patients suffering from vitamin deficiency, rising demand for nutraceutical products containing vitamin K2, and increasing cases of osteoporosis are expected to have a positive impact on the growth of the global vitamin K2 market. However, the presence of stringent regulations for nutraceuticals is expected to restrain the growth of the market during the forecast period.
The global vitamin K2 market is expected to reach USD 228.27 million by 2023 from USD 45.00 million in 2017 at a CAGR of 31.08% from 2018 to 2023. In 2017, the market was led by the Americas with a 42.93% share, followed by Europe and Asia-Pacific with shares of 38.87% and 14.65%, respectively.
The Americas held the highest market share in 2017 due to the rising adoption of herbal medicines, increasing focus of consumers on health and wellness, surging healthcare costs, and growing demand from the pharmaceuticals, food & beverage, and cosmetics industries.
The European market is expected to register a comparatively high CAGR during the forecast period owing to growing consumer awareness about vitamin K2 coupled with the burgeoning demand in the UK, France, and Germany.
The global vitamin K2 market has been segmented based on product, source, form, application, and region.
On the basis of product, the MK-7 segment accounted for the largest market share of 71.61% in 2017, with a market value of USD 32.23 million; the segment is projected to register highest CAGR of 31.41% during the forecast period due to the rising applications of vitamin K2 in the food and nutraceutical industries. Based on source, the natural segment dominated the market and accounted for a revenue share of 64.88% in 2017, with a market revenue of USD 29.20 million. The segment is expected to register a CAGR of 30.72% during the review period as natural vitamin K2 is preferred by consumers; moreover, the bioavailability of natural vitamin K2 is and is higher than its synthetic counterpart.
By form, the powder segment was largest with a 52.75% market share and a market value of USD 23.74 million in 2017. The segment is projected to register a CAGR of 30.62% during the forecast period. This dominance can be attributed to the rising demand in end-use industries.
On the basis of application, the pharmaceuticals segment is likely to register a comparatively higher CAGR of 32.05% during the forecast period owing to rising applications of vitamin K2 in the pharmaceuticals industry focusing on improved bone, dental, and cardiovascular health to manage osteoporosis and cardiovascular diseases.
The Vitamin K2 Market market is projected to grow at a CAGR of 31.1% from 2015 to 2023.
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View Subscription PlansVitamin K2 works as a coenzyme for the nutrient K-subordinate carboxylase, a compound required for the combination of proteins engaged with hemostasis (blood thickening) and bone metabolism, and other physiological capacities. The majority of the vitamin K2 products are used in the biopharma and nutraceutical industries.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2017
Historical Period
2015 – 2016
Forecast Period
2018 – 2023
Primary Interviews
150+
Historical data (2015–2017) and forecast period (2017–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThere are numerous players operating in the global vitamin K2 market. Some of the big players have captured a significant share of the global market, taking advantage of their strong position and presence in a number of countries and regions across the world. However, several local players also operate in domestic markets and hold significant market shares.
The top players in the global vitamin K2 market are NattoPharma, Kappa Bioscience, Gnosis SpA, and Seebio Biotech.
NattoPharma held the first position in the global vitamin K2 market with an 25.9% market share in 2017. It is one of the largest and fastest-growing market players. The company has a strong presence in the Americas and Europe, but when it comes to Asia-Pacific and the Middle Eastern & Africa, its presence is negligible. NattoPharma had been showing constant growth in revenues over the last three years.
Kappa Bioscience accounted for a noticeable market share of 23.4% in 2017. The company has a strong presence in the market and its products are unique and stable as compared to other market players. Kappa Bioscience emphasizes quality products through strong R&D. It was the first company to develop man-made menaquinone‑7 and has the first mover’s advantage in the global vitamin K2 market. Strategic collaborations with other players can provide favorable conditions for the company to strengthen its position in the global vitamin K2 market.
Gnosis SpA holds a strong position in the global vitamin K2 market. The company is likely to register significant growth during the forecast period owing to its strong presence in emerging markets such as Americas, Europe, and Asia. The company has an extensive product portfolio and it generates maximum revenue from its naturally derived ingredients. The company accounted for 20.5% of the total market share in 2017.
Seebio Biotech imports and exports naturally derived ingredients. The company offers products related to the nutraceutical and pharmaceuticals industries. It operates through the vitamin, amino acids, enzyme, preservatives, API intermediates, and others segments. Currently, the company is expanding its research and development base with the help of government research organizations. In 2017, it accounted for the fourth position in the global vitamin K2 market with a market share of 8.5%.
Bargaining Power of Suppliers
The suppliers in the global vitamin K2 market are the direct manufacturers, distributors, importers, traders, and independent suppliers. Bargaining power of suppliers is a crucial factor in vitamin K2 industry and determines the strength of the company. There are numerous suppliers present in the global vitamin K2 market. Switching cost of these suppliers is medium, and it varies from product to product. Moreover, suppliers tend to enter long-term associations with the pharmaceutical, nutraceutical, and food & beverages companies. There are a large number of customers available in the market which is boosting the demand for vitamin K2 products. The quality of products plays an important role in the healthcare industry as the low-quality products are likely to hamper the standard of research activity, hence, customers are selective about the suppliers. Due to this, the overall bargaining power of suppliers in the global vitamin K2 market is medium.
Bargaining Power of Buyers
The bargaining power includes the pressure customers exert on businesses to procure higher quality products, better customer service, and lower prices. Considering the urbanization and rising population of health-conscious consumers which tends to promote healthier alternatives such as functional foods and dietary supplements, the vitamin K2 market is identified to have a moderate and significant customer base. The costs that consumer acquires as a result of changing brands, suppliers or products is known as switching costs. The switching cost is low between the available brands in the vitamin K2 market, and that tends to add power to the buyers. Therefore, the bargaining power of buyers is moderate.
Threat of New Entrants
Vitamin K2 business is competitive and major market players have their prominent presence in Asia Pacific, United States, and Europe which makes the market of these regions dominated by these players. Owing to developing economies and disposable incomes, the sale of nutritious and healthier foods, and dietary supplements are experiencing a surge. Vitamin K2 market is anticipated to have moderate growth during the forecast period.
The risk to enter the market with already existing established key players moderates the threat of new entrants into the vitamin K2market. However, small players are identified to compete in terms of prices to generate sales, and these companies have more potential to be acquired by the established players thereby increasing their revenues. Raw material required for vitamin K2 production is abundantly available. Rising demand for vitamin K2 from customers makes the market more attractive for the new players. This major factor escalates the threat of new entrants to this market.
Threat of Substitutes
The threat of substitutes to vitamin K2 is low due to the absence of substitutes that can replace the vitamin K2 market.
Rivalry
The vitamin K2 industry is marked by high intensity of the rivalry. The established market players in the vitamin K2 industry indulge in a rivalry where the market players are targeting its competitors in terms of quality and price, thus making the industry competitive and reducing profit potential for the existing firms. The global players tend to compete with the local and regional players in terms of prices. The players are found to focus more on strategic investments in R&D sector to bring innovations in their product line and to further create product differentiation. Therefore, the intensity of rivalry is high.
Market estimates by geography (2023)
InsightAmericas leads with $97.01M by 2023, while Europe is projected to grow fastest at a 32.5% CAGR.
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View Subscription Plans| REGION | 2015 | 2017 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Middle East and Africa | $1.05M | $2.43M | $5.65M | 23.4% | 2% |
| Americas | $11.27M | $33.10M | $97.01M | 30.9% | 42% |
| Asia Pacific | $3.93M | $11.06M | $31.11M | 29.5% | 14% |
| Europe | $9.96M | $30.72M | $94.50M | 32.5% | 41% |
| Total | $26.21M | $77.32M | $228.27M | 31.1% | 100% |
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View Subscription PlansTotal Market Size
$228.27M
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| MK7 | $165.91M | 31.4% | 73% |
| MK4 | $48.93M | 30.7% | 21% |
| Others | $13.43M | 28.8% | 6% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Vitamin K2 Market covering market dynamics, competitive landscape, and strategic outlook.
The Vitamin K2 Market market is projected to reach $228.27M by 2023, growing at 31.1% CAGR. The MK7 segment holds the largest share.
The global vitamin K2 market is growing on the preliminary backgrounds of various factors.
Vitamin K is also known as Koagulationsvitamin, and it plays an important role in blood clotting and maintaining bone health. Vitamin deficiency is the absence of vitamin in the human body and could be responsible for inducing avitaminosis or hypovitaminosis. Vitamin K2 is naturally produced in human guts by bacteria, and the cases of vitamin K2 deficiency are increasing due to changing lifestyle and food-related habits. Vitamin K2 is rare in the western diet, and it is necessary to involve vitamin K2 though supplementary diet and pharmaceutical products. In recent years the number of cases of vitamin deficiency is constantly increasing. The increasing vitamin deficiency disorders are responsible for the increasing demand for nutraceuticals containing vitamins. According to the report published by the Food and Agriculture Organization of the United Nations (FAO), Vitamin K deficiency bleeding (VKDB) in infants is a serious concern, and the prevalence rate of VKDB in Thailand is 72 per 100,000 births.
In recent years, technological advancements in the market have led to the development of multifunctional nutritional ingredients which synergistically lead to the increased functional performance of various complex nutraceutical and pharmaceutical formulations. Moreover, it is estimated that such ingredients reduce the need for the binder, lubricant, glidant, and others. Thus, such multifunctionality of these ingredients results in significant savings in production costs when compared with other techniques. It is also inferred that multifunctional ingredients have tremendous potential for applications in the nutraceutical industry.
Key players in the nutraceuticals market are required to fulfill the rules and regulations set by governments to meet the standards set by them. The concerned authorities are responsible for controlling permits, setting regulations for the entry of new players, residual management issues, and inspection of expiry dates for certain products such as dietary supplements. FDA is responsible for regulating the manufacturing and distribution of functional food and nutraceuticals in the US. The concerned authorities place strict regulations on the type of functional food and beverages and nutraceuticals that can be introduced in the market, the number of ingredients that can be used, and the labeling criteria for various ingredients that are to be mentioned on product labels. This restricts the market to grow with the limited availability of vitamin K2 options in the market.
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Profiles of 109 companies operating in the Vitamin K2 Market market, including revenue, employee count, and market positioning where available.
Showing 109 of 109 companies
Company Headquarters: Tokyo, Japan Founded: 1949 Workforce: 7,500 + Company Working: Kyowa Hakko Bio Co. Ltd specializes in various biotechnology products such as L-amino acids, nucleic acids, peptides, organic acids, vitamins, cosmetic ingredients, and Daiichi fine chemical products. The company operates as a subsidiary of Kyowa Hakko Kirin Co. Ltd and has two manufacturing plants in Yamaguchi Production Center (Hofu Ube) and Healthcare Plant (Tsuchiura). Kyowa Hakko currently operates in markets including Japan and Oceania, North and South America, Europe and Russia, Mediterranean and Africa, South-East Asia, India, and China. The company provides fine chemicals as raw materials for industries such as pharmaceuticals, dietary supplements/foods, and cosmetics.
Company Headquarters: Tel Aviv, Israel Founded: 1933 Workforce: 2000+ Company Working: Frutarom is a leading player in the flavor and fine ingredients market. The company provides its products and services to the food, beverage, flavor, functional food, fragrance, nutraceutical, pharmaceutical, and cosmetic industries. The company offers more than 30,000 products in the global market and has more than 32 research and development labs. Frutarom supplies its products in more than 140 countries through its 110 sales and marketing offices. The company operates through four business segments or product groups including plant branded, plant standard, bioscience, and pharma. Frutarom is a subsidiary of International Flavors & Fragrances Inc. Hence, the below financial information provided is of International Flavors & Fragrances Inc.
Company Headquarters: Wilmington, US Founded: 1802 Workforce: 56,000+ Company Working: Danisco A/S is the subsidiary company of Dow Dupont. The company offers various products, which include food and beverage ingredients, enzymes, and bio-based solutions. It also offers pharmaceutical ingredients, alginate, antimicrobials, antioxidants, betaine, carrageenan, cellulose gum, colors, and many more. It has offices in more than 80 countries across the globe. Danisco A/S is a subsidiary of Dow Dupont. Hence, the below financial information provided is of Dow Dupont.
Company Headquarters: Oslo, Norway Founded: 2004 Workforce: 11-50 Company Working: NattoPharma is a global leader in the vitamin K2 dietary supplement segment. The company is into the creation and introduction of novel health ingredients and has collaborated with other companies for the distribution of its products. The company offers products related to health ingredients under business segment brands and services. It also offers research and development services to other companies and helps them in clinical trials associated with vitamin K2.
Company Headquarters: Taipei, Taiwan Founded: 1999 Workforce: 10-200 Company Working: Geneferm Biotechnology Co. Ltd is a fermentation company which works as a manufacturer, exporter, original design manufacturer (ODM), and original equipment manufacturer (OEM), and operates into business segments including health food/dietary supplement, toll manufacturing, raw materials, and others. It provides products related to microbial fermentation, strains screening and recovery, and purification technology. The company has collaborations and strategic partnerships with companies in Taiwan, Europe, Japan, and China. The company also exports its products in Brazil, Canada, Colombia, Hong Kong, Indonesia, Japan, Mainland China, Philippines, Taiwan, Thailand, and the US.
Company Headquarters: Shanghai, China Founded: 2003 Workforce: 10-50 Company Working: Seebio Biotech is a prominent player in the global vitamin K2 market. The company manufactures and markets products including biochemical reagents, IVD raw materials, nutritional supplements, natural extracts, food ingredients, and other health and food raw materials. It operates through business segments such as vitamin, amino acids, enzymes, herbal extracts, active pharmaceutical ingredients, and cyclodextrin. The company is present in more than 55 countries and covers all major markets. The company serves major industries including agriculture, food processing, feed, health care products, and daily chemical industry and generates maximum revenue through it.
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