Report : South & Central America Vitamin K2 Market Forecast to 2030 - Regional Analysis - by Product (MK-4, MK-7, and Combination Drugs), Dosage Forms (Capsules & Tablets, Powder, and Oils), Source (Natural and Synthetic), and Application (Pharmaceuticals, Nutraceuticals and Food, and Others)
At 30.1% CAGR, the South & Central America Vitamin K2 Market is projected to be worth US$ 38.54 million by 2030, says Business Market Insights
According to Business Market Insights research, the South & Central America vitamin K2 market was valued at US$ 4.68 million in 2022 and is expected to reach US$ 38.54 million by 2030, registering a CAGR of 30.1% from 2022 to 2030. Increasing prevalence of CVD and regulatory consideration and standards are among the critical factors attributed to the South & Central America vitamin K2 market expansion.
As the popularity of vitamin K2 grows, regulatory bodies are likely to establish specific guidelines and standards for manufacturing, labeling, and marketing vitamin K2 products. Regulatory bodies might collaborate closely with key players in the sector to create and implement rules that guarantee the consistency and dependability of vitamin K2 supplements and fortified meals sold in the market. These rules safeguard customers by providing accurate information about the components and advantages of vitamin K2 products. Additionally, such regulations can ensure the quality, safety, and accurate representation of vitamin K2 in the market, providing consumers with reliable and transparent information. Furthermore, establishing evidence-based recommendations for vitamin K2 supplementation requires cooperation between regulatory bodies, research organizations, and industry specialists. To develop safety standards for populations, such as children, expectant mothers, or people with certain medical conditions, regulatory authorities will conduct research and consult experts to determine the proper dosage levels, identify any interactions or contraindications, and set safety guidelines regarding the consumption of vitamin K2. The scientific data supporting the various advantages of vitamin K2, such as its contribution to bone and cardiovascular health, can be examined to decide whether claims must be displayed on product labels or not. This makes it possible to guarantee that health claims are truthful and backed by solid scientific evidence, ensuring customers are not deceived. Thus, the growing focus on regulatory consideration and standards provides significant opportunities for the growth of the South & Central America Vitamin K2 market.
On the contrary, limited awareness regarding benefits of vitamin K2 hampers the South & Central America vitamin K2 market.
Based on product, the South & Central America vitamin K2 market is segmented into MK-4, MK-7, and combination drugs. The MK-7 segment held 65.2% share of South & Central America vitamin K2 market in 2022, amassing US$ 3.05 million. It is projected to garner US$ 25.22 million by 2030 to expand at 30.2% CAGR during 2022-2030.
Based on dosage forms, the South & Central America vitamin K2 market is segmented into capsules & tablets, powder, and oils. The powder segment held 51.8% share of South & Central America vitamin K2 market in 2022, amassing US$ 2.42 million. It is projected to garner US$ 20.15 million by 2030 to expand at 30.3% CAGR during 2022-2030.
Based on source, the South & Central America vitamin K2 market is segmented into natural and synthetic. The natural segment held 77.7% share of South & Central America vitamin K2 market in 2022, amassing US$ 3.64 million. It is projected to garner US$ 29.58 million by 2030 to expand at 29.9% CAGR during 2022-2030.
Based on application, the South & Central America vitamin K2 market is segmented into pharmaceuticals, nutraceuticals and food, and others. The pharmaceuticals segment held 67.3% share of South & Central America vitamin K2 market in 2022, amassing US$ 3.15 million. It is projected to garner US$ 25.27 million by 2030 to expand at 29.7% CAGR during 2022-2030.
Based on country, the South & Central America vitamin K2 market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 41.2% share of South & Central America vitamin K2 market in 2022. It was assessed at US$ 1.93 million in 2022 and is likely to hit US$ 10.02 million by 2030, exhibiting a CAGR of 22.9% during 2022-2030.
Key players operating in the South & Central America vitamin K2 market are BASF SE, Glanbia Plc, International Flavors & Fragrances Inc, Koninklijke DSM NV, Lesaffre et Cie SA, Lonza Group AG, and Novozymes AS, among others.
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