As consumer awareness for vitamins and supplements continue to proliferate, vitamin K market size is expected to grow considerably.
As consumer awareness for vitamins and supplements continue to proliferate, vitamin K market size is expected to grow considerably. Lack of vitamin K can lead to blood clotting disorders in humans, especially in infants. Moreover, increasing birth rates will considerably augment demand for vitamin K1 injectables to save infants from vitamin K deficiencies that result in serious health issues such as brain damage, intracranial hemorrhage and even death in some cases.
In the human body, vitamin K plays a crucial role in preventing blood clotting. Infants do not have enough vitamin K in their bodies and are given vitamin K supplements to prevent blood-clotting problems. Vitamin K supplements are also used to prevent and treat osteoporosis (weak bones) and for getting relief from itching that is often accompanied by a liver disease called biliary cirrhosis. Vitamin K2, also known as menaquinone, is taken orally to treat osteoporosis as well as bone loss caused by steroids, and to lower total cholesterol levels in people on dialysis.
Growing awareness to include vitamin K in their diets is expected to drive vitamin K market share. Increased understanding of the role of vitamin K in the body beyond blood clotting has led researchers to recommend increased amounts for dietary intake of vitamin K.
Dermal application segment to garner considerable proceeds in the market
Vitamin K creams are often used by surgeons after surgery to boost blood flow to bruises for better and quick healing in the affected area. Vitamin K creams are also used after cosmetic facial surgery, as they encourage faster healing by quicker cell regeneration.
Vitamin K creams are applied to the skin to remove spider veins, scars, bruises, stretch marks and burns. It is also used to treat rosacea, a skin condition that causes pimples and redness on the face. Increasing awareness, rise in disposable income levels, and growing urge to be presentable in society is paving way to multi fold growth of dermal segment of vitamin k market across the globe. Dermal applications segment of vitamin k industry is estimated to witness CAGR of 8.5% CAGR over the forecast period.
To access sample pages of this report titled, “Vitamin K Market Size By Type (Vitamin K1, Vitamin K2), By Application (Osteoporosis, Vitamin-K Dependent Clotting Factor Deficiency [VKCFD], Prothrombin Deficiency, Vitamin K Deficiency Bleeding [VKDB], Dermal Applications), By Route of Administration (Oral, Parenteral, Topical) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents, please click on the link below:
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Growing usage by F&B industry to expand global market outlook
The global functional food and beverage market has been steadily growing in recent years and manufacturers have become more innovative with the ingredients they include to bring benefit to the consumer. Markets are flooded with products containing vitamin K2 and number of products launched containing vitamin K2 has almost doubled globally over the last decade.
The most active categories within recent food and drink launches containing vitamin K2 are dietary and vitamins supplements, which account for the majority of new product launches globally followed by baby formula, beverage mixes, flavored milk and soy based drinks. Growing focus on functional foods and supplements owing to health concerns is projected to boost the global market over the forecast timeline.
Increasing birth rate in Asia-Pacific region to positively impact vitamin K market
In 2013, the total population of the Asia-Pacific region was estimated around 4.3 billion, which is 60% of the world’s total population. APAC region hosts the two most populous countries in the world, India with 1.25 billion people and China with 1.4 billion people. The number of births assessed to have taken place in this region during 2000–2005 is approximately 64.3 million per year. India accounted for 41.6% of these births and this proportion is expected to be maintained over the next 15 years.
With such a massive birth rate and increase in number of infants born every year, demand for vitamin K1 injectables to save infants from serious health issues is projected to fuel the APAC market. Asia Pacific vitamin K market is estimated to witness growth of around 9% over the forecast timeline.
Growing number of osteoporosis cases to boost vitamin K market
As per International Osteoporosis Foundation, osteoporosis leads to more than 8.9 million fractures annually across the globe. The disorder is estimated to affect 200 million women globally, out of which, approximately one-tenth of women are aged 60. The disorder affects an estimated 75 million people in Japan, Europe and the US. By 2050, the worldwide cases of hip fracture in men are estimated to increase by 310% and 240% in women, as compared to rates in 1990.
Low level of circulating vitamin K is linked with low bone density. Moreover, several studies have shown that supplementation with vitamin K results in improved bone health. In fact, new studies signify potential role of vitamin K in increasing bone strength and limiting the risk of fractures in people suffering from osteoporosis and slowing down bone loss after menopause in women. A growing pool of conscious consumers aware of such qualities of vitamin K have increased the growth scope for vitamin K market over 2019-2025.
Growing awareness pertaining to health benefits of vitamin K is projected to increase the product demand. With a varied set of application segments, the market is estimated to witness exponential growth. As per Global Market Insights Inc. estimates, vitamin K market is expected to surpass $1 billion by 2025.
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