The expansion of the Food sector, the increasing awareness about vitamin K deficiency, and the rising demand for Dietary supplements have resulted in boosting the North America Phylloquinone market.
The Global North America Phylloquinone Market is forecast to reach USD 820.0 Million by 2027, according to a new report by Reports and Data. North America Phylloquinone can be described as a prenylated naphthoquinone, which is synthesized exclusively by green algae, certain species of cyanobacteria, plants wherein it acts as an electron acceptor for developing protein disulfide bonds, and as an essential electron carrier in photosystem I. This prenylated naphthoquinone is also referred as vitamin K1. This type of vitamin K is stable in moisture air, and it is fat-soluble. However, this type of vitamin K degrades in sunlight. One of its mentionable natural source is green plants. It is also considered as an antidote for coumatetralyl. Vitamin K plays an essential role in the posttranslational modification of some proteins, which is mostly needed for blood coagulation.
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Top Leading Players: Amphastar Pharmaceuticals Inc., Country Life (Kikkoman Corporation), BASF, Kappa Bioscience, DSM, NattoPharma, Livealth Biopharma, NOW Foods, Solgar Inc and Pfizer Inc.
Further Key Finding from the Report Suggestion:
- The North America Phylloquinone market held a market share of USD 413.7 Million in the year 2018 that is forecasted to grow at a rate of 7.8% during the forecast period.
- In context to Grade, the Food Grade segment is projected to witness a faster growth rate of 8.1% during the forecast period, which occupied more than 40.0% of the market in 2018. The growth rate witnessed by the Food Grade segment is attributed to increasing demand for dietary supplements and elevating demand of the vitamin in the food sector in these dietary supplement products, which is contributing to the growth rate witnessed by this segment. It natural availability in various food sources like green leafy vegetables, and it’s easily availability also contributes to the growth rate witnessed by this segment.
- In context to Route of Administration, the Oral segment held the largest market share of 40.0% in 2018, with a CAGR of 7.9% during the forecast period. The wide availability of this vitamin in tablets, capsule, and other supplement forms and the ease of its consumption in the oral route of administration contributes to the growth rate witnessed by this segment.
- In regards to Application, the Osteoporosis segment is projected to witness the fastest growth rate of 8.5% during the forecast period, which is expected to hold 18.0% of the market by 2027. The growth rate witnessed by the Osteoporosis segment is attributed to the continuous rise in the geriatric population, the increasing occurrence rate of the condition, and applicability of the vitamin in its treatment, which contributes to the growth rate witnessed by this segment. The applicability of vitamin K1 in the treatment of osteoporosis has been shown to help in maintaining bone mineral density.
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The global North America Phylloquinone market is segmented into:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Food Grade
- Pharmaceutical Grade
Route of Administration Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Parental
- Oral
- Topical
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Vitamin K deficiency
- Warfarin overdose
- Obstructive jaundice
- Osteoporosis
- Others
key features of North America Phylloquinone Market:
North America Phylloquinone, also known as Vitamin K1, is a fat-soluble vitamin that plays an essential role in blood coagulation and bone health. The key features of the North America Phylloquinone market include:
- Growing demand for dietary supplements: North America Phylloquinone is widely used in dietary supplements to support bone health and cardiovascular health. The increasing awareness of the health benefits of North America Phylloquinone has led to a surge in demand for supplements containing this vitamin.
- Rising demand from the food industry: North America Phylloquinone is used as a food additive and nutrient supplement in a wide range of food products such as dairy products, cereal products, and beverages. The growing demand for fortified food products is expected to drive the growth of the North America Phylloquinone market in the food industry.
- Increasing prevalence of osteoporosis: Osteoporosis is a common condition that causes bone loss, leading to an increased risk of fractures. North America Phylloquinone is an essential nutrient for bone health, and the rising prevalence of osteoporosis is expected to boost the demand for North America Phylloquinone supplements.
- Growing demand from the cosmetics industry: North America Phylloquinone is used in cosmetic products to improve skin texture, reduce dark circles, and promote skin elasticity. The increasing demand for natural and organic cosmetic products is expected to drive the growth of the North America Phylloquinone market in the cosmetics industry.
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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