Vitamin K2 Market: Current Analysis and Forecast (2022-2028)
Emphasis on Component (Software and Service); Deployment (On-Premises and Cloud); By Organization Size (Small and Medium Enterprises and Large Enterprises) Region/Country
The Vitamin K2 Market was valued at around USD 400 million in 2020 and is expected to grow at a CAGR of around 25% from 2022-2028.
Vitamin K2 is known for its various health benefits, including cardiovascular diseases. They are used to help maintain healthy bones and are sometimes even suggested for cancer patients. Vitamin K2, which is used in dental care, will also help strengthen teeth. It is anticipated that the several advantages of these vitamins will increase market demand. During the forecast period, the global Vitamin K2 market is expected to see sales growth bolstered by their use of a variety of dietary supplements.
The growing number of vitamin-deficient patients, the high demand for vitamin K2-rich nutraceuticals, and the rising number of cases of osteoporosis and arthritis are all key factors to the expansion of the market. Furthermore, product advancements and company collaborations will also be contributing to the market growth during the forecast period. For instance, in 2021, Gnosis by Lesaffre, supplier of vitaMK7, acquired NattoPharma, supplier of MenaQ7. The two companies will collaborate to leverage their combined capabilities to set a roadmap for the future of vitamin K2.
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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product, MK-7 category to witness higher CAGR during the forecast period”
Based on product, the market is segmented into MK-4, MK-7, and Others. MK-7 category to witness higher CAGR during the forecast period owing to the growing advancements in the dietary supplements’ preparation in the field of personalized nutrition. In addition, this market’s expansion is likely to be aided soon by an increase in cases of bone disorders like osteoporosis and an increase in aesthetic standards. For instance, as per the International Osteoporosis Foundation (IOF), worldwide, osteoporosis causes more than 8.9 million fractures annually.
“Amongst application, the pharmaceuticals to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into pharmaceuticals, nutraceuticals & food, and others. Among these, the pharmaceuticals to hold a significant share in the market in 2020. This is mainly due to the rising cases of Vitamin K Deficiency Bleeding (VKDB), cardiovascular diseases and rising demand for nutraceuticals containing vitamins are the major factors for the growth of the market. For instance, as per Centers for Disease Control and Prevention (CDC), early and classical VKDB are more common, occurring in 1 in 60 to 1 in 250 newborn babies.
“North America to hold a significant share in the market”
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 owing to the presence of significant players, rising demand for nutraceutical products, and rising consumption of dietary supplements. On the other hand, due to the rising popularity of dietary supplements and rising demand for food supplements in emerging nations like India, China, and Japan, the market in Asia-Pacific is anticipated to emerge as the market with the fastest rate of growth.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global vitamin K2 market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Vitamin K2 Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global vitamin K2 market were the three major steps undertaken to create and analyze the adoption of vitamin K2 market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global vitamin K2 market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the vitamin K2 market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the vitamin K2 market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as source, product, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Vitamin K2 Market. Further, we conducted factor analysis using dependent and independent variables such as various source, product, and application of vitamin K2 market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the vitamin K2 market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global vitamin K2 market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the vitamin K2 market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global vitamin K2 market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global vitamin K2 market . Data was split into several segments & sub-segments post studying various parameters and trends in the areas of source, product, and application in the global Vitamin K2 Market.
The main objective of the Global Vitamin K2 Market Study
The current & future market trends of the global vitamin K2 market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the vitamin K2 market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of source, product, and application.
- Define and analysis of the regulatory framework for the vitamin K2 market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the vitamin K2 market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the vitamin K2 market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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