Vitamin K Market Analysis

Vitamin K Market Analysis

With respect to type, the vitamin K1 segment will observe 8.2% CAGR from 2023-2032 owing to the growing popularity of diet supplements. Vitamin K1 or phytonadione is a naturally occurring form of vitamin K sourced from green leafy vegetables. In addition to offering improved bone and heart health, it helps in the treatment of blood clotting disorders, such as hemorrhagic conditions in infants. The rising risk of fractures will further anchor the demand for vitamin K to improve bone density and support the maintenance of strong bones.

The vitamin K market share from the osteoporosis application segment exceeded USD 171 million in 2022. The growth can be attributed to the growing burden of osteoporosis as one of the leading chronic diseases affecting a large population across the globe. As per the US Surgeon General's report, nearly 10 million people aged 50 years and above in the U.S. suffer from osteoporosis. The growing focus on reducing the chances of bone fractures and the subsequently rising intake of vitamin K supplements will drive the industry expansion.

North America vitamin K market size will reach over USD 858 million by 2032 owing to the surging prevalence of chronic diseases and coagulation disorders. The higher intake of fast food mainly in the U.S. and Canada along with the increased healthcare expenditure has spurred the rising adoption of sedentary lifestyles in the region. The thriving unhealthy eating habits and the consequent deficiency of vital vitamins has steered the higher focus on R&D activities, further accelerating the consumption of vitamin K supplements. The increasing number of hospitals, growing government initiatives and the strong presence of pivotal pharmaceutical and nutraceutical industry players will also add to the regional market progress.