Vitamin K2 Market

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.