Richen’s Market Insights Overview:
As the global supplement market keeps changing, the bone health market is rapidly expanding around the world. Hence there’s the growth of related functional ingredients in limitless range of applications. Vitamin K2 is proved to have benefits in bone and cardiovascular health. This market insight analyses:
• Bone Health Plays The Significant Role in Global Supplement Market
• Launches of Bone Health Supplements’ Growth Varies by Regions
• Vitamin K2 is Displaying Strong Growth in Finish Products
Importance of Top Active Health Positionings Vary by Regions
North America: Insomnia occupies the top 10 in North America, namely the only one of the four most active regions–highlighting how important sleep health is in the market.
West Europe: There is above average penetration for bone health. Oral health also makes the top 10 in this region.
Asia: Higher focus on health/wellness, but less of a focus on energy and stamina and brain-mood health. Children’s supplements and eye health take up the top 10.
East Europe: East Europe over-indexes the global figure for many top health claims.
Bone Health is Showing Significant Growth in Global Supplement Market
Bone health is showing growth in CAGR terms, up by 23.08% from Jan. 2018 to Dec. 2022.
Double-digit Annual Growth in Launches of Bone Health Supplements
• NPD in supplements with bone health claim has outpaced that of bone healthy food and beverages over the past few years.
• Between 2018 and 2028, bone health products show an upward trend.
Bone Healthy Supplements Show Multiple Formats
Vitamin K2 Displays Multiple Categories and Healthy Positioning
Vitamin K2 is Displaying Strong Growth in Vitamin Ingredients
The Launches with Vitamin K2 Continue to Grow
North America is the Main Region For NPL with Vitamin K2
From 2018 to 2022, the percentage of new product launches containing vitamin K2 was the highest in West Europe (39%), North America and East Europe ranked second and third, with new product launches accounting for 36.7% and 9.3% respectively, and Africa had the lowest new product launches accounting for only 0.3%.
Asia is the region with the highest growth rate in NPL with vitamin K2
In 2018, North America was the region with the highest percentage of NPL with vitamin K2, accounting for 46%. In 2022, NPL with vitamin K2 showed a significant downward trend in North America, falling to 33.2%.
West Europe and East Europe showed similar growth trend, increasing to 41.6% and 9% respectively.
The growth of vitamin K2 shows the customer interest and demand for the bone health market and products. you’ll need a partner with experience in the field. To learn more about working with Richen and find more about our RiviK2® products, contact us.
Source: Innova Market Insights