“Global Vitamin K2 Market to reach a market value of USD 297.1 Million by 2031 growing at a CAGR of 13.3%”
The Global Vitamin K2 Market size is expected to reach $297.1 million by 2031, rising at a market growth of 13.3% CAGR during the forecast period.
The region's rapid economic growth, increasing disposable incomes, and growing health and wellness awareness have fueled the demand for dietary supplements, including vitamin K2. Countries such as Japan, China, South Korea, and India are key contributors to this region's market growth. The growing middle class in these countries is becoming more health-conscious, seeking ways to enhance their well-being through nutritional supplementation. Thus, the Asia Pacific region acquire 37% revenue share in the market 2023.
The number of individuals aged 60 years and older is projected to rise from 1 billion in 2020 to 1.4 billion by 2030 and is projected to reach 2.1 billion by 2050, according to the World Health Organization (WHO). This growing aging population is accompanied by a higher prevalence of age-related health issues, particularly bone-related disorders such as osteoporosis.
Additionally, Consumers are increasingly inclined to pursue products that provide additional health benefits, such as those that are fortified with vitamin K2, as their awareness increases. Thus, incorporating vitamin K2 into functional foods and beverages is expanding the market for this vital nutrient and contributing to the broader movement towards healthier eating and preventive healthcare.
However, the production of vitamin K2, particularly through advanced biotechnological methods and sophisticated extraction processes, presents a significant financial challenge for manufacturers. These processes often involve complex and costly technologies that ensure the high purity, stability, and bioavailability of the vitamin K2 produced. Thus, the lack of consumer awareness about vitamin K2 and its specific health benefits is a significant barrier to market growth.
Based on product type, the market is bifurcated into MK-4 and MK-7. The MK-4 segment procured 29% revenue share in the market in 2023. MK-4, or menaquinone-4, is a shorter-chain vitamin K2 found in animal products and certain dietary supplements. MK-4 is known for its rapid uptake by tissues, particularly in the brain, kidneys, and pancreas.
On the basis of form, the market is classified into capsules & tablets, powder & crystalline, and oils & liquid. The powder & crystalline segment acquired 55% revenue share in the market in 2023. The versatility of powder and crystalline forms allows for easy incorporation into various food matrices, making it an ideal choice for manufacturers looking to enhance the nutritional profile of their products.
Based on application, the market is segmented into pharmaceutical, functional food & beverages, and health supplements. The pharmaceutical segment acquired 25% revenue share in the market in 2023. Prescription medications containing are often recommended for patients with specific health conditions that require targeted intervention.
By source, the market is divided into natural and synthetic. The natural segment witnessed 61% revenue share in the market in 2023. The natural segment includes vitamin K2 derived from natural sources such as fermented foods, animal products, and plant-based ingredients.
Free Valuable Insights: Global Vitamin K2 Market size to reach USD 297.1 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured 27% revenue share in the market in 2023. Europe has a long-standing tradition of valuing health and wellness, with a strong consumer base that is highly conscious of nutritional supplementation.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 110.5 Million |
| Market size forecast in 2031 | USD 297.1 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 13.3% from 2024 to 2031 |
| Number of Pages | 241 |
| Tables | 420 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Form, Application, Source, Region |
| Country scope |
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| Companies Included | Balchem Corporation, Novozymes A/S (Novo Holdings A/S), BASF SE, Lonza Group Ltd. (Capsugel), Haihang Industry Co.,Ltd. (Haihang Group), AngelYeast Co., Ltd., Kyowa Hakko USA, Inc., Lesaffre Group, DSM Nutritional Products and Herbalife International, Inc. |
By Product Type
By Form
By Application
By Source
By Geography
This Market size is expected to reach $297.1 million by 2031.
Growing proportion of the aging population are driving the Market in coming years, however, High production costs of vitamin K2 restraints the growth of the Market.
Balchem Corporation, Novozymes A/S (Novo Holdings A/S), BASF SE, Lonza Group Ltd. (Capsugel), Haihang Industry Co.,Ltd. (Haihang Group), AngelYeast Co., Ltd., Kyowa Hakko USA, Inc., Lesaffre Group, DSM Nutritional Products and Herbalife International, Inc.
The expected CAGR of this Market is 13.3% from 2024 to 2031.
The MK-7 segment is leading the Market by Product Type in 2023, thereby, achieving a market value of $200.5 million by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $113.3 million by 2031.
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