Asia Pacific 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)
The Asia Pacific vitamin K2 market is expected to grow from US$ 20.05 million in 2022 to US$ 187.93 million by 2030. It is estimated to grow at a CAGR of 32.3% from 2022 to 2030.
Expansion of Distribution Channel Fuels Asia Pacific Vitamin K2 Market
Expanding the distribution channels for vitamin K2 can help improve the accessibility of this essential nutrient to a broader population. Working closely with manufacturers ensures increased production and supply of vitamin K2 products to meet the growing demand. The distribution of these items to merchants in pharmacies, health shops, supermarkets, and specialty supplement stores, can be made easier by forming relationships with wholesalers. Additionally, customers can be made aware of the value of vitamin K2 by viewing product displays and educational materials at retail locations. Also, it is critical to work with developing economies-based e-commerce companies and web-based platforms to provide customers with a simple way to buy supplements and other items containing vitamin K2 online.
Furthermore, encouraging the inclusion of vitamin K2 in everyday meals and drinks can broaden the market for supplements, making it more available to people preferring a nutritional diet. Working with healthcare experts such as doctors, nutritionists, and dietitians is also essential, as these experts can advise patients to take vitamin K2 supplements and recommend a store to buy the product. This is raising the demand for vitamin K2. Thus, the expansion of the distribution networks through medical channels is expected to provide ample opportunities for market growth in the coming years.
Asia Pacific Vitamin K2 Market Overview
The Asia Pacific Vitamin K2 market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The growth of the market is attributed to the increasing prevalence of CVD and growing cases of osteoporosis bone deformation in adults and newborns. However, the limited awareness regarding benefits of vitamin K2 hinders the market growth. The market in Asia Pacific is expected to witness significant growth during the forecast period due to factors such as rising elderly population, growing cardiovascular diseases, and innovative product availability. The Rest of Asia Pacific includes Thailand, New Zealand, Singapore, Myanmar, Vietnam, and the Philippines. The countries mentioned above offer significant growth opportunities for the vitamin K2 market.
For instance, in 2019, according to Singapore's long-term care system adapting to population aging report, 14% of the country's population (i.e., 3.9 million people) was aged 65 years or older. By 2030, it is expected to reach 25% due to rising life expectancy, and this demographic shift has profound implications for the country's health and care needs. Additionally, in New Zealand, the risk of developing AF increases with age and occurs in about 5% of the population over 65 years and about 10% of people older than 80. Moreover, healthcare expenditure has been observed to increase in these countries. For instance, Malaysias healthcare spending increased from 2017 to 2018, accounting for US$ 427 in 2018, a 12.22% increase from 2017. Thailand's healthcare expenditure amounts to US$ 25.3 billion, and costs are expected to increase by US$ 47.9 billion by 2026, reflecting a 10-year compound annual growth rate of 6.6%. Therefore, such factors are expected to enhance the market growth during the forecast period (2022-2030).
Asia Pacific Vitamin K2 Market Revenue and Forecast to 2030 (US$ Million)
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Asia Pacific Vitamin K2 Market Segmentation
The Asia Pacific vitamin K2 market is segmented into product, dosage forms, source, application, and country.
Based on product, the Asia Pacific vitamin K2 market is segmented into MK-4, MK-7, and combination drugs. The MK-7 segment held the largest share of the Asia Pacific vitamin K2 market in 2022.
Based on dosage forms, the Asia Pacific vitamin K2 market is segmented into capsules & tablets, powder, and oils. The powder segment held the largest share of the Asia Pacific vitamin K2 market in 2022.
Based on source, the Asia Pacific vitamin K2 market is segmented into natural and synthetic. The natural segment held a larger share of the Asia Pacific vitamin K2 market in 2022.
Based on application, the Asia Pacific vitamin K2 market is segmented into pharmaceuticals, nutraceuticals and food, and others. The pharmaceuticals segment held the largest share of the Asia Pacific vitamin K2 market in 2022.
Based on country, the Asia Pacific vitamin K2 market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the Asia Pacific vitamin K2 market in 2022.
Balchem Corp, BASF SE, Glanbia Plc, International Flavors & Fragrances Inc, Koninklijke DSM NV, Lesaffre et Cie SA, Lonza Group AG, Novozymes AS, and Seebio Biotech (Shanghai) Co Ltd are some of the leading companies operating in the Asia Pacific vitamin K2 market.
Table of Content
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Vitamin K2 Market - Key Industry Dynamics
4.1 Key Market Drivers:
4.1.1 Increasing Prevalence of CVD
4.1.2 Growing Cases of Osteoporosis Bone Deformation in Adults and Newborns
4.2 Market Restraints
4.2.1 Limited Awareness Regarding Benefits of Vitamin K2
4.3 Market Opportunities
4.3.1 Expansion of Distribution Channel
4.4 Future Trends
4.4.1 Regulatory Consideration and Standards
4.5 Impact Analysis:
5. Vitamin K2 Market - Asia Pacific Market Analysis
5.1 Asia Pacific Vitamin K2 Market Revenue (US$ Mn), 2022 - 2030
6. Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 - by Product.
6.1 Overview
6.2 Asia Pacific Vitamin K2 Market Revenue Share, by Product 2022 & 2030 (%)
6.3 MK-4
6.3.1 Overview
6.3.2 MK-4: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
6.4 MK-7
6.4.1 Overview
6.4.2 MK-7: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
6.5 Combination Drugs
6.5.1 Overview
6.5.2 Combination Drugs: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
7. Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 - by Dosage Form.
7.1 Overview
7.2 Asia Pacific Vitamin K2 Market Revenue Share, by Dosage Form, 2022 & 2030 (%)
7.3 Capsules and Tablets
7.3.1 Overview
7.3.2 Capsules and Tablets: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Powder
7.4.1 Overview
7.4.2 Powder: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Oil
7.5.1 Overview
7.5.2 Oil: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 - by Source.
8.1 Overview
8.2 Asia Pacific Vitamin K2 Market Revenue Share, by Source, 2022 & 2030 (%)
8.3 Natural
8.3.1 Overview
8.3.2 Natural: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Synthetic
8.4.1 Overview
8.4.2 Synthetic: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 - by Application.
9.1 Overview
9.2 Asia Pacific Vitamin K2 Market Revenue Share, by Application, 2022 & 2030 (%)
9.3 Pharmaceuticals
9.3.1 Overview
9.3.2 Pharmaceuticals: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
9.4 Nutraceuticals and Food
9.4.1 Overview
9.4.2 Nutraceuticals and Food: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
9.5 Others
9.5.1 Overview
9.5.2 Others: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Vitamin K2 Market - Country Analysis
10.1.1 Asia Pacific Vitamin K2 Market, by Country, 2022 & 2030 (%)
10.1.1.1 China: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.1.1 Overview
10.1.1.1.2 China: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.1.3 China: Asia Pacific Vitamin K2 Market, by Product, 2020-2030 (US$ Million)
10.1.1.1.4 China: Asia Pacific Vitamin K2 Market, by Dosage Form, 2020-2030 (US$ Million)
10.1.1.1.5 China: Asia Pacific Vitamin K2 Market, by Source, 2020-2030 (US$ Million)
10.1.1.1.6 China: Asia Pacific Vitamin K2 Market, by Application, 2020-2030 (US$ Million)
10.1.1.2 Japan: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.2.1 Overview
10.1.1.2.2 Japan: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.2.3 Japan: Asia Pacific Vitamin K2 Market, by Product, 2020-2030 (US$ Million)
10.1.1.2.4 Japan: Asia Pacific Vitamin K2 Market, by Dosage Form, 2020-2030 (US$ Million)
10.1.1.2.5 Japan: Asia Pacific Vitamin K2 Market, by Source, 2020-2030 (US$ Million)
10.1.1.2.6 Japan: Asia Pacific Vitamin K2 Market, by Application, 2020-2030 (US$ Million)
10.1.1.3 India: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.3.1 Overview
10.1.1.3.2 India: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.3.3 India: Asia Pacific Vitamin K2 Market, by Product, 2020-2030 (US$ Million)
10.1.1.3.4 India: Asia Pacific Vitamin K2 Market, by Dosage Form, 2020-2030 (US$ Million)
10.1.1.3.5 India: Asia Pacific Vitamin K2 Market, by Source, 2020-2030 (US$ Million)
10.1.1.3.6 India: Asia Pacific Vitamin K2 Market, by Application, 2020-2030 (US$ Million)
10.1.1.4 Australia: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.4.1 Overview
10.1.1.4.2 Australia: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.4.3 Australia: Asia Pacific Vitamin K2 Market, by Product, 2020-2030 (US$ Million)
10.1.1.4.4 Australia: Asia Pacific Vitamin K2 Market, by Dosage Form, 2020-2030 (US$ Million)
10.1.1.4.5 Australia: Asia Pacific Vitamin K2 Market, by Source, 2020-2030 (US$ Million)
10.1.1.4.6 Australia: Asia Pacific Vitamin K2 Market, by Application, 2020-2030 (US$ Million)
10.1.1.5 South Korea: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.5.1 Overview
10.1.1.5.2 South Korea: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.5.3 South Korea: Asia Pacific Vitamin K2 Market, by Product, 2020-2030 (US$ Million)
10.1.1.5.4 South Korea: Asia Pacific Vitamin K2 Market, by Dosage Form, 2020-2030 (US$ Million)
10.1.1.5.5 South Korea: Asia Pacific Vitamin K2 Market, by Source, 2020-2030 (US$ Million)
10.1.1.5.6 South Korea: Asia Pacific Vitamin K2 Market, by Application, 2020-2030 (US$ Million)
10.1.1.6 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.6.1 Overview
10.1.1.6.2 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
10.1.1.6.3 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Product, 2020-2030 (US$ Million)
10.1.1.6.4 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Dosage Form, 2020-2030 (US$ Million)
10.1.1.6.5 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Source, 2020-2030 (US$ Million)
10.1.1.6.6 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Application, 2020-2030 (US$ Million)
11. Vitamin K2 Market Industry Landscape
11.1 Overview
11.2 Growth Strategies in Vitamin K2 Market
11.3 Organic Growth Strategies
11.3.1 Overview
11.4 Inorganic Growth Strategies
11.4.1 Overview
12. Company Profiles
12.1 Lonza Group AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 International Flavors & Fragrances Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Balchem Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 BASF SE
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Lesaffre et Cie SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Seebio Biotech (Shanghai) Co Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Koninklijke DSM NV
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Novozymes AS
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Glanbia Plc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About Us
13.2 Glossary of Terms
List of Tables
Table 1. Asia Pacific Vitamin K2 Market Segmentation
Table 2. China: Asia Pacific Vitamin K2 Market, by Product - Revenue and Forecast to 2030 (US$ Million)
Table 3. China: Asia Pacific Vitamin K2 Market, by Dosage Form- Revenue and Forecast to 2030 (US$ Million)
Table 4. China: Asia Pacific Vitamin K2 Market, by Source- Revenue and Forecast to 2030 (US$ Million)
Table 5. China: Asia Pacific Vitamin K2 Market, by Application- Revenue and Forecast to 2030 (US$ Million)
Table 6. Japan: Asia Pacific Vitamin K2 Market, by Product - Revenue and Forecast to 2030 (US$ Million)
Table 7. Japan: Asia Pacific Vitamin K2 Market, by Dosage Form- Revenue and Forecast to 2030 (US$ Million)
Table 8. Japan: Asia Pacific Vitamin K2 Market, by Source- Revenue and Forecast to 2030 (US$ Million)
Table 9. Japan: Asia Pacific Vitamin K2 Market, by Application- Revenue and Forecast to 2030 (US$ Million)
Table 10. India: Asia Pacific Vitamin K2 Market, by Product - Revenue and Forecast to 2030 (US$ Million)
Table 11. India: Asia Pacific Vitamin K2 Market, by Dosage Form- Revenue and Forecast to 2030 (US$ Million)
Table 12. India: Asia Pacific Vitamin K2 Market, by Source- Revenue and Forecast to 2030 (US$ Million)
Table 13. India: Asia Pacific Vitamin K2 Market, by Application- Revenue and Forecast to 2030 (US$ Million)
Table 14. Australia: Asia Pacific Vitamin K2 Market, by Product - Revenue and Forecast to 2030 (US$ Million)
Table 15. Australia: Asia Pacific Vitamin K2 Market, by Dosage Form- Revenue and Forecast to 2030 (US$ Million)
Table 16. Australia: Asia Pacific Vitamin K2 Market, by Source- Revenue and Forecast to 2030 (US$ Million)
Table 17. Australia: Asia Pacific Vitamin K2 Market, by Application- Revenue and Forecast to 2030 (US$ Million)
Table 18. South Korea: Asia Pacific Vitamin K2 Market, by Product - Revenue and Forecast to 2030 (US$ Million)
Table 19. South Korea: Asia Pacific Vitamin K2 Market, by Dosage Form- Revenue and Forecast to 2030 (US$ Million)
Table 20. South Korea: Asia Pacific Vitamin K2 Market, by Source- Revenue and Forecast to 2030 (US$ Million)
Table 21. South Korea: Asia Pacific Vitamin K2 Market, by Application- Revenue and Forecast to 2030 (US$ Million)
Table 22. Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Product - Revenue and Forecast to 2030 (US$ Million)
Table 23. Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Dosage Form- Revenue and Forecast to 2030 (US$ Million)
Table 24. Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Source- Revenue and Forecast to 2030 (US$ Million)
Table 25. Rest of Asia Pacific: Asia Pacific Vitamin K2 Market, by Application- Revenue and Forecast to 2030 (US$ Million)
Table 26. Recent Organic Growth Strategies in Vitamin K2 Market
Table 27. Recent Inorganic Growth Strategies in the Vitamin K2 Market
Table 28. Glossary of Terms, Asia Pacific Vitamin K2 Market
List of Figures
Figure 1. Asia Pacific Vitamin K2 Market Segmentation, By Country
Figure 2. Asia Pacific Vitamin K2 Market - Key Industry Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific Vitamin K2 Market Revenue (US$ Mn), 2022 - 2030
Figure 5. Asia Pacific Vitamin K2 Market Revenue Share, by Product 2022 & 2030 (%)
Figure 6. MK-4: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 7. MK-7: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 8. Combination Drugs: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 9. Asia Pacific Vitamin K2 Market Revenue Share, by Dosage Form 2022 & 2030 (%)
Figure 10. Capsules and Tablets: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 11. Powder: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 12. Oil: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 13. Asia Pacific Vitamin K2 Market Revenue Share, by Source 2022 & 2030 (%)
Figure 14. Natural: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 15. Synthetic: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 16. Asia Pacific Vitamin K2 Market Revenue Share, by Application 2022 & 2030 (%)
Figure 17. Pharmaceuticals: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 18. Nutraceuticals and Food: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 20. Asia Pacific Vitamin K2 Market, by Key Country - Revenue (2022) (US$ Million)
Figure 21. Asia Pacific Vitamin K2 Market, by Country, 2022 & 2030 (%)
Figure 22. China: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 23. Japan: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 24. India: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 25. Australia: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 26. South Korea: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 27. Rest of Asia Pacific: Asia Pacific Vitamin K2 Market - Revenue and Forecast to 2030 (US$ Million)
Figure 28. Growth Strategies in Vitamin K2 Market
1. Balchem Corp
2. BASF SE
3. Glanbia Plc
4. International Flavors & Fragrances Inc
5. Koninklijke DSM NV
6. Lesaffre et Cie SA
7. Lonza Group AG
8. Novozymes AS
9. Seebio Biotech (Shanghai) Co Ltd
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific Vitamin K2 Market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific Vitamin K2 Market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution