Vitamin K2 Market in Asia Pacific
Dublin, June 07, 2024 (GLOBE NEWSWIRE) — The “Asia Pacific Vitamin K2 Market Forecast to 2030 – Regional Analysis – By Product (MK-4, MK-7, Combination Drugs), By Dosage Form (Capsules/Tablets, Powder, Oil), By Source (Natural/Synthetic), By Application (Pharmaceuticals, Dietary Supplements, Food, Others)” report has been published by ResearchAndMarkets.com Recruitment.
The Asia Pacific Vitamin K2 market is expected to grow from USD 20.05 million in 2022 to USD 187.93 million by 2030. It is projected to grow at a CAGR of 32.3% from 2022 to 2030.
Expanding Distribution Channels Boost Asia Pacific Vitamin K2 Market
Expanding distribution channels for vitamin K2 will make this essential nutrient more accessible to a wider range of people. Working closely with manufacturers, we can increase production and supply of vitamin K2 products to meet growing demand. Distribution of these products to outlets such as pharmacies, health food stores, supermarkets, and specialty supplement stores can be facilitated by developing relationships with wholesalers. Additionally, product displays and educational materials in retail stores can help customers become aware of the value of vitamin K2. It is also important to work with e-commerce companies and web-based platforms in developing countries to make it easier for them to purchase supplements and other products containing vitamin K2 online.
Moreover, encouraging people to include Vitamin K2 in their daily meals and beverages will broaden the market for the supplement, making it more accessible to people who prefer a nutritious diet. Collaboration with healthcare professionals such as doctors, nutritionists, and dieticians is also essential. These professionals can advise patients to take Vitamin K2 supplements and recommend stores where the product can be purchased. This has led to an increased demand for Vitamin K2. Hence, the expansion of distribution network through healthcare channels is expected to provide ample opportunities for market growth in the coming years.
Overview of Vitamin K2 Market in Asia Pacific
The Asia Pacific Vitamin K2 market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. The market growth is attributed to the increasing prevalence of CVD and increasing bone deformity due to osteoporosis in adults and newborns. However, limited awareness regarding the benefits of Vitamin K2 is hindering the market growth. The market in Asia Pacific is expected to witness significant growth during the forecast period due to factors such as growing geriatric population, increasing cardiovascular diseases, and availability of innovative products. Rest of Asia Pacific includes Thailand, New Zealand, Singapore, Myanmar, Vietnam, and Philippines. The above-mentioned countries provide significant growth opportunities for the Vitamin K2 market.
For example, a report on Singapore’s long-term care system for an ageing population noted that in 2019, 14% of the country’s population (3.9 million people) were aged 65 or older. Due to rising life expectancy, this proportion is expected to reach 25% by 2030, and this demographic change will have a significant impact on the country’s health and care needs. Furthermore, in New Zealand, the risk of developing AF increases with age, occurring in approximately 5% of the population aged 65 or older and approximately 10% of those aged 80 or older. Furthermore, increasing healthcare costs are observed in these countries.
For example, healthcare expenditure in Malaysia increased from 2017 to 2018, reaching USD 427 in 2018, a 12.22% increase from 2017. Healthcare expenditure in Thailand was USD 25.3 billion and is expected to increase by USD 47.9 billion by 2026, a 10-year CAGR of 6.6%. These factors are therefore expected to drive the market growth during the forecast period (2022-2030).
Asia Pacific Vitamin K2 Market Segmentation
The Asia Pacific vitamin K2 market is segmented by product, dosage form, source, application, and country.
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Based on product, the Asia Pacific Vitamin K2 market is categorized into MK-4, MK-7, and combination drugs. The MK-7 segment accounted for the largest share of the Asia Pacific Vitamin K2 market in 2022.
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Based on dosage form, the Asia Pacific Vitamin K2 market is segmented into capsules & tablets, powder, and oil. The powder segment accounted for the largest share of the Asia Pacific Vitamin K2 market in 2022.
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Based on source, the Asia Pacific vitamin K2 market is classified into natural and synthetic. In 2022, the natural segment accounted for the major share of the Asia Pacific vitamin K2 market.
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On the basis of application, the Asia Pacific Vitamin K2 market is segmented into Pharmaceuticals, Dietary Supplements & Food, and Others. The Pharmaceuticals segment accounted for the largest share of the Asia Pacific Vitamin K2 market in 2022.
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By country, the Vitamin K2 market in Asia Pacific is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. In 2022, Rest of Asia Pacific dominated the Vitamin K2 market in Asia Pacific.
Balchem, BASF, Glanbia, International Flavors & Fragrances, Koninklijke DSM, Lesaffre et Cie SA, Lonza Group, Novozymes, and Seebio Biotech (Shanghai) Co Ltd are some of the leading companies operating in the Vitamin K2 market in Asia Pacific.
Key attributes:
|
Report Attributes |
detail |
|
number of pages |
93 |
|
Forecast Period |
2022 – 2030 |
|
Estimated market value in 2022 |
20.05 million |
|
Market value forecast through 2030 |
187,930,000 |
|
Compound Annual Growth Rate |
32.3% |
|
Target area |
Asia Pacific |
Key topics:
1.First of all
2. Overview
3. Research Methods
4. Asia Pacific Vitamin K2 Market-Key Industry Trends
4.1 Key Market Drivers:
4.1.1 Increasing incidence of CVD
4.1.2 Increased osteoporotic bone deformity in adults and neonates
4.2 Market constraints
4.2.1 Low awareness of the benefits of vitamin K2
4.3 Market Opportunities
4.3.1 Expansion of distribution channels
4.4 Future Trends
4.4.1 Regulatory Considerations and Standards
4.5 Impact Analysis:
5. Vitamin K2 Market-Asia Pacific Market Analysis
5.1 Asia Pacific Vitamin K2 Market Revenue (USD Million), 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 and 2030 (%)
6.3 MK-4
6.4 MK-7
6.5 Concomitant medications
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 and 2030 (%)
7.3 Capsules and tablets
7.4 Powder
7.5 Oil
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 and 2030 (%)
8.3 Natural
8.4 Composition
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 and 2030 (%)
9.3 Pharmaceuticals
9.4 Dietary Supplements and Food
9.5 Other
10. Asia Pacific Vitamin K2 Market-Country Analysis
10.1.1 Asia Pacific Vitamin K2 Market, by Country, 2022 and 2030 (%)
10.1.1.1 China: Asia Pacific Vitamin K2 Market – Revenue and Forecast to 2030 (USD Million)
10.1.1.2 Japan: Asia Pacific Vitamin K2 Market-Revenue and Forecast to 2030 (USD Million)
10.1.1.3 India: Asia Pacific Vitamin K2 Market – Revenue and Forecast to 2030 (USD Million)
10.1.1.4 Australia: Asia Pacific Vitamin K2 Market – Revenue and Forecast to 2030 (USD Million)
10.1.1.5 South Korea: Asia Pacific Vitamin K2 Market – Revenue and Forecast to 2030 (USD Million)
10.1.1.6 Rest of Asia Pacific: Asia Pacific Vitamin K2 Market – Revenue and Forecast to 2030 (USD Million)
11. Vitamin K2 Market Industry Situation
11.1 Overview
11.2 Growth Strategies in Vitamin K2 Market
11.3 Organic Growth Strategy
11.4 Inorganic Growth Strategies
12. Company Profile
For more information on this report, please visit: https://www.researchandmarkets.com/r/e1itdj
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