According to a new report published by UnivDatos Markets Insights, the vitamin K2 market is expected to grow at a CAGR of around 25% from 2022-2028. The analysis has been segmented into Source (Natural and Synthetic); Product (MK-4, MK-7, and Others); Application (Pharmaceuticals, Nutraceuticals & Food, and Others); and Region/Country.
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The vitamin K2 market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the vitamin K2 market. The vitamin K2 market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the vitamin K2 market at the global and regional levels.
Market Overview
Vitamin K2 is naturally produced in human intestines by bacteria. The western diet is deficient in vitamin K2; hence pharmaceuticals and supplemental diets are required to provide vitamin K2. The market is expanding as a result of an expanding patient base with vitamin deficiencies, rising demand for products containing Vitamin K2, and rising cases of arthritis. For instance, according to the Centers for Disease Control and Prevention (CDC), around 1 in 4 US adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis.
Along with calcium and vitamin D, vitamin K2 may be an effective supplement for the treatment of osteoporosis that is toxic-free and comparable to bisphosphonate therapy. By reducing arterial calcification, it may also considerably reduce cardiovascular morbidity and mortality. In the cases of diabetes, cancer, and osteoarthritis, vitamin K2 appears promising. Although a dosage adjustment is necessary, the use of vitamin K during warfarin medication is safe and may help with INR (International Normalized Ratio) control.
Some of the major players operating in the market include 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
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COVID-19 Impact
Over the forecast period, the rising prevalence of COVID-19 is anticipated to have an impact on market growth. The healthcare industry has been severely and directly impacted by the COVID-19 pandemic. Due to the abrupt impact on the supply chain and the restrictions implemented on manufacturing and supply operations during the early stages of the coronavirus pandemic, most pharmaceutical and nutraceutical companies suffered a small loss in the first few quarters. However, COVID-19 has raised the market for nutraceuticals, particularly vitamin K2. As a result of this rise in demand, numerous important players have seen a rise in sales.
The global vitamin K2 market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· On the basis of product, the market is categorized into MK-4, MK-7, and others. Among these, the MK-7 to hold a significant share in the market in 2020. This is mainly due to the growing usage of dietary supplements rising cases of coronary artery diseases because MK-7 based vitamins reduces the risk of coronary artery diseases, and vitamin K2 as MK-7, improves bone density by making blood vessels softer and bones harder. These factors are contributing to market growth.
· Based on application, the vitamin K2 market has been classified into pharmaceuticals, nutraceuticals & food, and others. The pharmaceuticals category is to witness a significant growth rate during the forecast period. This is mainly due to the changing food habits, changing lifestyle, health awareness, and standard of living. Also, the applications of vitamin K2 is useful in pharmaceutical industry focusing on dental, CVDs, and bone related deficiencies which will drive the market growth during the forecast period.
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Vitamin K2 Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the prevalence of effective medical facilities in nations like the United States and Canada, the rising use of herbal medicines, increasing healthcare expenditures, and the government's emphasis on health and wellness. Moreover, the inclination toward living a healthy life is leasing to the growing consumption of supplements including vitamin K3 and the expansion of the food and beverage and cosmetic industries are the driving factors for the expansion of the regional market.
The major players targeting the market include
· 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
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the vitamin K2 market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the vitamin K2 market?
• Which factors are influencing the vitamin K2 market over the forecast period?
• What are the global challenges, threats, and risks in the vitamin K2 market?
• Which factors are propelling and restraining the vitamin K2 market?
• What are the demanding global regions of the vitamin K2 market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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