Global Vitamin K Market – Industry Trends and Forecast to 2030

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 2023 to 2030.

Vitamin K Market Analysis and Size

The essential factors contributing to the growth of the market in the forecast period of 2023 to 2020 include growing demand for vitamin supplements, changing dietary patterns, and rising health consciousness.

Data Bridge Market Research analyses that the global vitamin K market, which was USD 841.47 million in 2022, is expected to reach USD 1,410.20 million by 2030, growing at a CAGR of 6.8% during the forecast period of 2023 to 2030. 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.

Vitamin K Market Scope and Segmentation

Market Definition

Vitamin K is a fat-soluble vitamin that helps blood clot. It is divided into two subtypes: Vitamin K (K0) and Vitamin K (K1) (K). Both types have synthetic forms, but their properties differ depending on the type. The most important variants in this context are phylloquinone (K) and menaquinone (MK-n). Vitamin K is necessary for bone health and the prevention of osteoporosis.

Vitamin K Market Dynamics

Drivers

• Growing Demand for Vitamin Supplements due to their Benefits on Overall Human Health

The vitamin K market is expected to grow significantly over the forecast period due to rising demand for vitamin supplements. A large body of clinical evidence supports the role of vitamins in overall health and their benefits to the human body, particularly the bones. This factor will drive sales of vitamin K-based products such as injections (pharmaceutical grade), oral supplements, food fortification, and dietary supplements.

• Growing Deficiency among the Population due to Unhealthy Diet Patterns and Sedentary Lifestyles

Lifestyle and dietary changes that cause vitamin K deficiency in developed and developing countries will benefit industry growth in the coming years. People who lead sedentary lif​​​​​​​estyles and consume a lot of junk food are more likely to develop chronic conditions that result in vitamin deficiencies. Menadione and phytonadione are fat-soluble compounds that are essential for the development of teeth and bones. It also stimulates blood clotting and coagulation-inhibiting factors. Thus, people suffering from coagulation disorders due to sedentary lifestyles and unhealthy diet patterns are suggested to consume menadione and phytonadione supplements as their daily part of the diet. The aforementioned factors will accelerate the industry's growth.

Opportunities

• Rising Health Consciousness and Changing Dietary Patterns

Rising health consciousness, changing dietary patterns, a hectic lifestyle, and increased demand for vitamin supplements in the face of rising cases of micronutrient deficiencies are also expected to drive market growth. Furthermore, the rising prevalence of diseases such as osteomalacia, osteoporosis, and rickets will provide ample opportunities for the growth of the vitamin K market during the forecast period.

Restraints/Challenges

• Rising Awareness about these Side Effects

Vitamin K is an essential nutrient that plays a crucial role in blood clotting and bone health. While it is generally safe when consumed within recommended dietary allowances, there has been increased awareness of potential side effects and interactions with high-dose vitamin K supplementation. Moreover, excessive vitamin K intake, particularly in vitamin K1 supplements, may increase the risk of kidney stones in susceptible individuals.

This global vitamin K 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 Vitamin K 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 Development

• In May 2021, Lesaffre acquired NattoPharma, a Vitamin K2 specialist, and is expanding its product portfolio in the human nutrition and health market. This acquisition also strengthened the company's Vitamin K research and marketing segment
• In February 2021, Kappa Bioscience plans to expand its operations in the U.S. The geographical expansion will increase the company's customer base and operational facilities, resulting in increased nutraceutical production

Global Vitamin K Market Scope

The global vitamin K 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 global vitamin K 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 global vitamin K 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.

Asia-Pacific dominates the vitamin K market due to rising health concerns and an increased patient pool suffering from vitamin deficiency in the region.

North America is expected to grow due to increased application from the cosmetic and food and beverage industries, which will favor regional growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like 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 global vitamin K 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 global vitamin K 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)