The study involved in estimating the current size of the vitamin k2 market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the vitamin k2 market.
In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, directories, and databases, were referred to identify and collect information.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the vitamin k2 market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, research, and development teams, and related key executives from distributors, and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to vitamin k2 product type, form, source, application, function, and region. Stakeholders from the demand side, such as pharmaceutical and food & beverage manufacturers who use vitamin K2, were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of vitamin k2 and the outlook of their business, which will affect the overall market.
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COMPANY NAME
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designation
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Gnosis by Lesaffre (NattoPharma) (Norway)
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Regional Sales Manager
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Kappa Bioscience (Balchem Corp.) (US)
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Marketing Manager
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Sungen Bioscience Co., Ltd (China)
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General Manager
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Vesta Nutra (US)
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Sales Manager
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J-OIL MILLS, INC. (Japan)
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Sales Manager
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Novozymes A/S (Denmark)
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Sales Executive
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Vitamin K2 Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total market size. These approaches were also used to estimate the size of various dependent submarkets. The research methodology used to estimate the market size includes the following:
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The key players in the industry and markets were identified through extensive secondary research.
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All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
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All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
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The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CEOs, directors, and marketing executives.
Global Vitamin K2 Market: Bottom-Up Approach.
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Global Vitamin K2 Market: Top-Down Approach.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. To estimate the overall vitamin k2 market and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
According to the National Institutes of Health (NIH) Office of Dietary Supplements (ODS), Vitamin K2, also called menaquinone (MK), is one of a group of fat-soluble vitamins that play a role in blood clotting and bone health. MK-4 and MK-7 are two specific subtypes of vitamin K2, also known as menaquinone. Both MK-4 and MK-7 are found naturally in some foods and can be taken as supplements. They both play a role in blood clotting and bone health by activating proteins like osteocalcin and matrix Gla protein (MGP).
Key Stakeholders
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Raw material suppliers
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Traders, distributors, and manufacturers & suppliers of vitamin k2
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Food processors & food manufacturers
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Government and research organizations
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Trade associations and industry bodies
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Regulatory bodies:
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Food and Drug Administration (FDA)
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European Commission
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European Food Safety Authority (EFSA)
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Food Standards Australia New Zealand (FSANZ)
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European Communities
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Associations, and commercial research & development (R&D) institutions:
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Importers and exporters of vitamins
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Global Alliance for Improved Nutrition (GAIN)
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Food Fortification Initiative (FFI)
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Food and Agriculture Organization (FAO)
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United Nations International Children's Emergency Fund (UNICEF)
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World Health Organization (WHO)
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World Organization for Animal Health (WOAH)
Report Objectives
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To define, segment, and forecast the global vitamin K2 market based on product types, forms, sources, function (qualitative), applications, and regions over a historical period from 2020 to 2023 and a forecast period from 2024 to 2029
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To provide detailed information about the key factors influencing the market's growth (drivers, restraints, opportunities, and challenges).
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To identify attractive opportunities in the market by determining the largest and fastest-growing segments across the regions.
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To analyze the demand-side factors based on the following:
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Impact of macro and microeconomic factors on the market
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Shifts in demand patterns across different subsegments and regions
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To strategically profile the key players and comprehensively analyze their core competencies.
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To analyze competitive developments, such as partnerships, mergers & acquisitions, new product developments, and expansions & investments in the vitamin K2 market.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
The following customization options are available for the report:
Product Analysis
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Product Matrix, which gives a detailed comparison of the product portfolio of each company.
Geographic Analysis
With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.
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Further breakdown of the Rest of the European vitamin k2 market into key countries
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Further breakdown of the Rest of Asia Pacific vitamin k2 market into key countries
Company Information
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Detailed analyses and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Vitamin K2 Market