Global vitamin K3 market is anticipated to witness an exponential growth in the forecast period. Vitamin K3 is also known as “Menadione”. It is an organic compound used as a nutritional supplement. At present, it is being used in pharmaceutical products and animal feed as well as in research for treatment of prostate cancer. Factors such as increase in vitamin deficiency and rise in consciousness regarding vitamin supplements. In addition, change in consumer lifestyle along with an increase in beauty products usage and increasing health awareness among the population are likely to propel the vitamin K3 market in the forthcoming period.
On the other hand, stringent rules set by government establishments such as FDA and low product penetration in emerging countries are anticipated to hinder the market growth in the future. However, technological progressions in vitamin delivery systems are likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Vitamin K3 market is segmented by grade type, application, distribution channel, and geography. Market is segmented by grade type as feed grade, food grade, and pharmaceutical grade. The “Pharmaceutical Grade” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factor that could be attributed to the growth of the market includes high demand from key industries.
The key applications are segmented in the vitamin K3 market include Medical Industry, Food Industry, and Feed Industry. The “Feed Industry” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factor that could be attributed to the growth of the market includes increasing demand.
The market is segmented based on distribution channel as Offline and Online distribution. The “Offline” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.
North America is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as strong application scope in food & beverage & in cosmetic industries may favor regional growth. Moreover, an increase in the aged population along with reducing obesity will generate opportunity in supplement market growth in the forecast period. North America is followed by Europe and Asia-Pacific region.
Key players operating in the vitamin K3 market include Hubei Zhenhua Chemical, Mianyang Vanatta Chemical, Chongqing Minfeng Chemical, Brother Enterprises Holding, Shandong Huasheng Chemical, Zhenhua Chemical, Yunnan Luliang Peace Technology, Dirox S.A., OXYVIT, and Peace Chemical. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Report contents include
• Analysis of the vitamin k3 market including revenues, future growth, market outlook
• Historical data and forecast
• Regional analysis including growth estimates
• Analyzes the end user markets including growth estimates.
• Profiles on vitamin k3 including products, sales/revenues, and market position
• Market structure, market drivers and restraints.
• North America
• Asia Pacific
• Middle East and Africa
• South America
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Research Support Specialist, USA