The global Vitamin K market size is estimated to be valued over 33 billion in 2018

The global Vitamin K market size is estimated to be valued over 33 billion in 2018 and will register a CAGR of 4.3% during the forecast period. Vitamin K market is highly competitive with major players focusing on quality distribution channels rather than quantity. The industry is dominated by branded ingredients owing to its stand quality compliances.

Vitamins are the nutritional organic compound that are essential for growth as well as remove deficiencies in the body. They are consumed in small amount because they can’t be synthesized in the body. Vitamin K market size from pharmaceutical industry is expected to witness significant gains over the forecast timeframe.

Global Vitamin K Market Drivers and Challenges

Several factors are boosting the Global Vitamin K Market growth ranging from rising government initiatives to improve medical adoption, accessibility of big data in healthcare, need for better patient outcomes, technological advancements, and increase in venture capital investments. In addition to this, rising significance of value-based medicine, increased awareness related to medical & healthcare product, utilization of analytics in precision and personalized medicine, emergence of social media, and growing number of patient registries is estimated to boost the growth of vitamin K market.

Pharmaceuticals and packaged food and beverages, cosmetics, and animal feed are the prime application areas for vitamin ingredients. It is needed for calcium binding in bones and tissues and required for protein synthesis which is involved in blood coagulation. With rise in beauty products usage, where it is used to remove bruises, scars, marks, spider vein, and burns and also used to cure pimples and skin redness as it quickly heals up the skin and reduces swelling, will act as positive market driver.

Moreover, dietary supplements is gaining high traction and is expected to register 3.5% annual growth rate till 2025. Increasing demand for dietary supplements will create lucrative market opportunity for vitamin K market.

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Global Vitamin K Market Analysis, By Product Type

By product type, global Vitamin K market size is segmented natural and synthetic. Phylloquinone and menaquinones are the two variants which are either obtained naturally in green leafy vegetables and dairy products or synthesized. Commercial development of Vitamin K2 has led to higher revenue profitability for the companies. It is helpful for bone health and cardiovascular health.

Global Vitamin K Market Analysis, By Mode of Consumption

On the basis of mode of consumption, the global vitamin K market trend is analyzed by Pills, Powders, Creams and Liquids. On the basis of application, vitamin K finds usage in Pharmaceuticals, Food and beverage, Cosmetics, Animal feeds and others.

Global Vitamin K Market Size and Forecast: Regional Analysis

The worldwide market for vitamin K is spread across Latin America, Asia Pacific, Western Europe, Central and Eastern Europe (CEE), North America, Middle East and Africa. Asia Pacific has been leading the global market and is expected to remain so over the forecast period. Asia Pacific accounted for over 33% of global share in 2017.

The increasing ageing population, rising concerns over health issues, and the increased patient pool suffering from vitamin deficiency are the main factors behind the growth in regional market. It is led by India, Japan, South Korea, and China. Most of the Asian companies are formulating products to strengthen market business position. China Vitamin K market accounted for over 39% of Asia Pacific share in 2017.

North America, driven by the U.S. vitamin K market size is estimated to witness significant gains over the forecast timeframe. Strong application scope in food & beverage and cosmetic industries will favor regional growth. Rise in population along with reducing obesity will create opportunity in supplement market and favor industry growth.

In Western Europe, vitamin K market size, led by UK, Germany, Italy and France will witness significant gains. Germany and UK will account for over 46% of total market by 2028.

Global Vitamin K Market Size and Forecast: Competition Landscape

The global vitamin K market share is fragmented. Key companies operating in the industry includes BASF, Nexeo Solutions, Kyowa Hakko USA, Asiamerica Ingredients, DSM, Stason Pharmaceuticals, Seltzer Chemicals and Pfizer. Atlantic Essential Products Inc., Bactolac Pharmaceutical Inc., AIE Pharmaceuticals Inc., Archer Daniels Midland Co., Amway, Bluestar Adisseo Co., Lonza Group, and E. I. du Pont de Nemours and Co., are some of the key vendors of vitamin ingredients across the world.

The Vitamin K market is driven by quality rather than quantity and hence the competitors try to outperform each other by improved formulations. This can be impressed upon by the fact that companies like Danisco and Kappa have joined hands to synthesis synthetic vitamin K and reach to mass market.

100s of Vitamin K has been launched since 2010. Positive outlook in dietary supplement and functional food & beverage industries should drive industry growth. With rising consumer awareness and proper distribution channel, the unexploited market for vitamin K is sure to see a sales boom in coming years.

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