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Vitamin K Market 2024 forecast Analysis by Top Players - BASF, Nexeo Solutions, Kyowa Hakko USA, Asiamerica Ingredients, Stason Pharmaceuticals, Seltzer Chemicals
Vitamin K Market
Global vitamins and mineral market was valued at over USD 30 billion in 2015 and may surpass USD 45 billion in business by 2024, with gains at over 9%. Increasing consumer health awareness along with rise in healthy food consumption should favor product demand.
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Vitamin K market size from pharmaceutical industry may witness significant gains over the forecast timeframe. It is needed for calcium binding in bones and tissues and required for protein synthesis which is involved in blood coagulation. Global pharmaceutical market size may register close to 6.5% gains. Most of the companies in the U.S. and China are producing new and innovative drug or medicines, thereby favoring industry growth.
Increasing application scope in dietary supplements may drive vitamin K market size. Calorie reduction and weight loss are promoting health care segment globally. Global dietary supplements were valued at over USD 120 billion in 2015 and may surpass USD 275 billion by 2024. Asia Pacific accounted for over 30% of the total dietary supplements in 2015. Rising awareness towards nutritional enrichment along with weight loss and calorie reduction mainly in the U.S. should drive industry growth.
Phylloquinone is an excellent ingredient used in skin care products which reduces dark circles under the eyes. It can be either applied as cosmetic active agent and as crème supplement curing skin problems. Global cosmetic market size is poised to exceed USD 675 billion in sales by 2024 and may register close to 6.5% growth. Change in consumer lifestyle along with rise in beauty products usage may stimulate industry growth. Vitamin K is applied on the skin to remove bruises, scars, marks, spider vein, and burns. It is also used to cure pimples and skin redness as it quickly heals up the skin and reduces swelling.
Positive outlook in food & beverage market size should drive vitamin K market size. Global food and beverages market generated over USD 115 billion and may exceed USD 320 billion by 2024, with gains at over 16%. Rapid industrialization in China, India, and Brazil may encourage people to choose wide variety of food and beverages products and helps in forming new market for many products. Insufficient intake of vitamin K can pose a serious threat for bone health as the child grows. Green leafy vegetables and black tea plays a role in treating Alzheimer and osteoporosis and continuous intake can reduce the chances of cancer and heart diseases.
North America, driven the U.S. vitamin K market size may witness significant gains over the forecast timeframe. Strong application scope in food & beverage and cosmetic industries should favor regional growth. Rise in geriatric population along with reducing obesity will create opportunity in supplement market and favor industry growth.
Europe vitamin K market size, led by UK, Germany, Italy and France market size may witness significant gains. Favorable government regulations by EFSA should favor regional growth demand.
Asia Pacific, led by India, Japan, South Korea, and China vitamin K market size may witness significant gains. Most of the Asian companies are formulating products to strengthen market business position.
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Phytonadione is a man-made form of product, which occurs naturally in the body. It is used to treat vitamin k deficiency and cure blood clotting problems. The rise in diseases worldwide are driving the healthcare sector, thus creating an opportunity for growth of vitamin k drugs in the pharmaceutical industry.
The global vitamin K market share is fragmented. Key companies operating in the industry includes BASF, Nexeo Solutions, Kyowa Hakko USA, Asiamerica Ingredients, Stason Pharmaceuticals, Seltzer Chemicals and Pfizer.
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