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Global Vitamin K Market – Industry Trends and Forecast to 2031

Food & Beverage

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Global Vitamin K Market – Industry Trends and Forecast to 2031

  • Food & Beverage
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Vitamin K Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 841.47 USD Million
Diagram Market Size (Forecast Year) USD 1,410.20 USD Million
Diagram CAGR %

Major Markets Players

  • DSM
  • BASF SE
  • Lonza Group
  • Glanbia Plc
  • ADM

Global Vitamin K Market, By Type (Vitamin K1, Vitamin K2), Application (Osteoporosis, Vitamin-K Dependent Clotting Factor Deficiency [VKCFD], Dermal Applications, Prothrombin Deficiency, Vitamin K Deficiency Bleeding [VKDB]), Route of Administration (Oral, Topical, Parenteral), Mode of Consumption (Pills, Powders, Creams, Liquids) – Industry Trends and Forecast to 2031.

Vitamin K Market

Vitamin K Market Analysis and Size

In healthcare and pharmaceuticals, the Vitamin K market plays a critical role in addressing coagulation disorders and promoting overall health. Vitamin K is essential for the synthesis of clotting factors in the liver, making it indispensable in the treatment of conditions such as Vitamin K deficiency or in managing patients on anticoagulant therapy. The pharmaceutical industry formulates Vitamin K products in various forms, including oral supplements and injectables, tailored to meet the specific needs of patients. The healthcare and pharmaceutical sectors rely on Vitamin K as a fundamental component in managing coagulation disorders and promoting optimal health outcomes.

Global vitamin K market size was valued at USD 898.69 billion in 2023 and is projected to reach USD 1,521.18 billion by 2031, with a CAGR of 6.8% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Type (Vitamin K1, Vitamin K2), Application (Osteoporosis, Vitamin-K Dependent Clotting Factor Deficiency [VKCFD], Dermal Applications, Prothrombin Deficiency, Vitamin K Deficiency Bleeding [VKDB]), Route of Administration (Oral, Topical, Parenteral), Mode of Consumption (Pills, Powders, Creams, Liquids)

Countries Covered

U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America

Market Players Covered

DSM (Netherlands), BASF SE (Germany), Lonza Group (Switzerland), Glanbia Plc (Ireland), ADM (U.S.), Farbest Brands (U.S.), SternVitamin GmbH & Co. K.G. (Germany), Adisseo (France), BTSA Biotechnologias Aplicadas S.L. (Spain), Rabar Pty Ltd (Australia), Kappa Bioscience AS (U.S.), Viridis BioPharma (India), GeneFerm Biotechnology Co., Ltd. (Taiwan), Goodscend Pharm. Sci & Tech. Co,Ltd (China), SEEBIO BIOTECH (SHANGHAI) CO.,LTD. (China)

Market Opportunities

  • Rising Product Innovation Increases the Utilization of Vitamin K
  • Growing Strategic Collaborations Expands the Demand of Vitamin K Products 

Market Definition

Vitamin K is a group of fat-soluble vitamins essential for blood clotting and bone health. It plays a crucial role in the synthesis of proteins necessary for blood coagulation and also contributes to bone metabolism by aiding in the mineralization process. Vitamin K has been linked to other physiological functions, including cardiovascular health and immune system support.

Vitamin K Market Dynamics

Drivers

  • Growing Awareness among Consumers Increases the Adoption of Vitamin K Products

As consumers become more informed about the essential role of Vitamin K in maintaining bone health, aiding blood clotting, and supporting overall wellness. As education about the importance of vitamins and minerals grows, individuals are proactively seeking out products containing Vitamin K, such as supplements and fortified foods. Moreover, awareness campaigns and media coverage highlighting the significance of Vitamin K in preventing bone fractures and cardiovascular issues contribute to its market growth by prompting more widespread adoption and usage. This trend towards heightened awareness fosters market expansion and fosters a shift towards proactive health management among consumers.

  • Growing Regulatory Support Increases the Demand for Vitamin K among Food Manufacturers

Government framework mandates the fortification of food products with essential nutrients, including Vitamin K. Government agencies and health organizations establish guidelines and regulations to ensure adequate nutrition and address public health concerns. These regulations often require the inclusion of specific vitamins and minerals in food products to combat deficiencies and promote overall well-being. Compliance with these standards enhances consumer confidence in fortified foods and creates a consistent demand for Vitamin K among food manufacturers.

Opportunities

  • Rising Product Innovation Increases the Utilization of Vitamin K

Continuous research efforts lead to the development of novel formulations with enhanced bioavailability, efficacy, and safety profiles. Advanced delivery methods, such as nanoencapsulation and liposomal formulations, improve the absorption and utilization of Vitamin K, increasing its effectiveness in addressing health concerns. Innovative combinations with other nutrients or functional ingredients amplify the benefits of Vitamin K, catering to specific health conditions or target demographics. These advancements drive consumer interest and provide opportunities for manufacturers to differentiate their products in a competitive market landscape, fueling overall market expansion and penetration.

For instance, Pfizer's development of a patented liposomal delivery system for Vitamin K exemplifies product innovation in the market. This advancement addresses the need for improved bioavailability, particularly crucial for patients with coagulation disorders or osteoporosis. Enhancing the effectiveness of Vitamin K delivery, Pfizer's innovation aligns with the broader trend of advancing formulations to meet evolving consumer demands and medical needs, thereby driving growth in the Vitamin K market.

  • Growing Strategic Collaborations Expands the Demand of Vitamin K Products  

Collaborations between pharmaceutical companies, food manufacturers, and research institutions facilitate the development of innovative products and formulations. Pooling resources and expertise, partners can accelerate the research and development of Vitamin K supplements, pharmaceuticals, and fortified food products. These partnerships enable companies to leverage each other's strengths, such as formulation expertise, manufacturing capabilities, and distribution networks, to penetrate new markets and expand their product portfolios. Strategic alliances foster knowledge exchange and access to cutting-edge technologies, enabling the creation of differentiated Vitamin K products that meet evolving consumer needs and preferences.

Restraints/Challenges

  • Growing Economic Factors limits the Demand for Vitamin K Products

During economic downturns, consumers may prioritize essential goods over dietary supplements and fortified foods, leading to decreased demand for Vitamin K products. Fluctuations in disposable income levels can also impact purchasing power, influencing consumer spending habits and potentially reducing the affordability of supplements. Moreover, rising unemployment rates or stagnant wage growth may further constrain discretionary spending on non-essential health products, including Vitamin K supplements. These economic challenges can create uncertainties for market players, affecting investment decisions, pricing strategies, and overall market growth. As a result, economic stability and consumer confidence play crucial roles in shaping the demand and growth trajectory of the Vitamin K market.

  • Growing Competition from Alternatives Limits the Utilization of Vitamin K Supplements

Alternative therapies, such as calcium and vitamin D supplements for bone health or anticoagulant medications for coagulation disorders, compete for consumer attention and market share. Additionally, natural sources of Vitamin K, such as leafy greens and fermented foods, offer alternative ways to meet nutritional needs without relying on supplements or fortified products. The availability and perceived efficacy of these alternatives can divert consumer demand away from Vitamin K supplements and fortified foods, thereby limiting market growth and presenting challenges for manufacturers in differentiating their products..

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

  • In May 2021, Lesaffre acquired NattoPharma, a leading expert in Vitamin K2, enhancing its presence in the human nutrition and health market. This acquisition bolsters Lesaffre's research and marketing efforts in the Vitamin K segment, broadening its product portfolio and strengthening its position in the industry
  • In February 2021, Kappa Bioscience announced plans to broaden its operations in the U.S., aiming to tap into new markets and expand its customer base. This geographical expansion will facilitate increased production of nutraceuticals, leveraging enhanced operational facilities to meet growing demand and strengthen Kappa Bioscience's presence in the U.S. market

Vitamin K Market Scope

The market is segmented on the basis of type, application, route of administration, and mode of consumption. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Vitamin K1 
  • Vitamin K2

Application

  • Osteoporosis
  • Vitamin-K Dependent Clotting Factor Deficiency [VKCFD]
  • Dermal Applications
  • Prothrombin Deficiency
  • Vitamin K Deficiency Bleeding [VKDB]

Mode of Consumption

  • Powder
  • Pills
  • Creams
  • Liquids

Route of Administration

  • Oral
  • Topical
  • Parenteral

Vitamin K Market Regional Analysis/Insights

The market is analyzed, and market size insights and trends are provided by type, application, route of administration, and mode of consumption, as referenced above.

The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

The Asia-Pacific dominates the market, primarily driven by escalating health awareness and a growing population facing vitamin deficiency issues. With rising health concerns, there's a heightened demand for nutritional supplements, including vitamin K, to address these deficiencies. Moreover, the region's large patient pool suffering from various health conditions necessitates a focus on preventive healthcare, further driving the demand for vitamin K products. This trend positions the Asia-Pacific market as a key growth hub for companies operating in the vitamin K sector.

North America is expecte to grow in the market due to rising demand from the cosmetic, food, and beverage sectors. This expansion is expected to benefit the region economically, as these industries play pivotal roles in its market landscape. With increasing application in cosmetics and food and beverage products, there's a notable shift towards incorporating novel ingredients and formulations, thereby fueling regional growth and presenting opportunities for market players to innovate and capitalize on evolving consumer trends.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Vitamin K Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

  • DSM (Netherlands)
  • BASF SE (Germany)
  • Lonza Group (Switzerland)
  • Glanbia Plc (Ireland)
  • ADM (U.S.)
  • Farbest Brands (U.S.)
  • SternVitamin GmbH & Co. K.G. (Germany)
  • Adisseo (France)
  • BTSA Biotechnologias Aplicadas S.L. (Spain)
  • Rabar Pty Ltd (Australia)
  • Kappa Bioscience AS (U.S.)
  • Viridis BioPharma (India)
  • GeneFerm Biotechnology Co., Ltd. (Taiwan)
  • Goodscend Pharm. Sci & Tech. Co,Ltd (China)
  • SEEBIO BIOTECH (SHANGHAI) CO.,LTD. (China)


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FREQUENTLY ASK QUESTIONS

The Vitamin K Market Will be worth USD 1,521.18 billion by 2031
The Growth Rate of the Vitamin K Market will be 6.8% by 2031
The latest developments in the Vitamin K Market are Lesaffre acquired NattoPharma, a leading expert in Vitamin K2, enhancing its presence in the human nutrition and health market and Kappa Bioscience announced plans to broaden its operations in the U.S., aiming to tap into new markets and expand its customer base.
The Growing Awareness among Consumers Increases the Adoption of Vitamin K Products & Growing Regulatory Support Increases the Demand for Vitamin K among Food Manufacturers are the growth drivers of the Vitamin K Market.
.The major data pointers of the Vitamin K Market are down-stream and upstream value chain analysis, technical trends Porter's five forces analysis, and case studies.
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