Brazil Vitamin K2 Market to Grow at a CAGR of 35.6% to reach US$ 9.81 million from 2023 to 2028

The Brazil vitamin K2 market was valued at US$ 1.59 million in 2022 and is projected to reach US$ 9.81 million by 2028; it is estimated to record a CAGR of 35.6% from 2023 to 2028.

Analyst Perspective

The rising adoption of herbal medicine, growing consumer emphasis on health and wellness, rising healthcare costs, and proliferating demand from pharmaceutical and food & beverage industries are anticipated to fuel the Brazil vitamin K2 market growth in the coming years. Further, the growing demand for vitamin K2-based dietary supplements further propels the Brazil vitamin K2 market growth. Also, the rising cases of arthritis, osteoporosis, and cardiovascular disease is driving the product sales in Brazil. In addition, the expansion of facilities by market players in the country is expected to fuel the Brazil vitamin K2 market growth. During the peak of the COVID-19 pandemic, most nutraceutical and pharmaceutical companies witnessed a minor loss owing to the restrictions implemented on manufacturing and supply operations. However, the COVID-19 pandemic had a slightly different impact on the performance of the vitamin K2 market. The pandemic increased the demand for nutraceuticals (especially vitamin K2), and a few key players recorded positive sales growth due to high demand.

Market Overview

Vitamin K2 can affect blood clotting as well as heart and bone health. The main ones are MK-4 and MK-7. Higher intakes of vitamin K2 are strongly associated with a lower risk of heart disease. It contributes to skin health and bone metabolism, promotes proper brain function, and prevents heart disease. In addition, vitamin K2 is important for the body's use of calcium to support bone formation and prevent calcification of blood vessels. Vitamin K2 prevents damage to the blood vessels by activating the matrix GLA protein (MGP), thus inhibiting the blood vessels' calcification. Vitamin K2 deficiency, therefore, leads to un-carboxylated or inactive MGP, leading to cardiovascular disease. Another role of vitamin K2 is blood clotting. Vitamin K2 is required to synthesize specific proteins involved in blood clotting, thus preventing internal and external bleeding. Vitamin K2 is found in animal foods and canned foods.

The growth of the Brazil vitamin K2 market is attributed to some key driving factors such as increasing prevalence of CVD and growing cases of osteoporosis bone deformation in adults and newborns. However, lack of awareness about vitamin K2 is expected to restrict the Brazil vitamin K2 market growth during the forecast period. In addition, the growing prevalence of vitamin K2 deficiency in Brazil is a prominent factor in the Brazil vitamin K2 market growth in the country. The expansion of distribution channels for vitamin K2 in Brazil is also projected to provide ample opportunities for the Brazil vitamin K2 market growth in the country.

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Brazil Vitamin K2 Market: Strategic Insights

Market Size Value in	US$ 1.59 million in 2022
Market Size Value by	US$ 9.81 million by 2028
Growth rate	CAGR of 35.6% from 2023 to 2028
Forecast Period	2023-2028
Base Year	2022

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Market Driver

Increasing Prevalence of CVD and Osteoporosis Drives Brazil Vitamin K2 Market Growth

Cardiovascular disease (CVD) continues to be a significant health concern, with its prevalence steadily increasing in recent years. According to Elsevier, CVD cases among Brazilian adults are predicted to reach 13.6 million by 2035. Furthermore, the prevalence of CVD in Brazil was reported to be 27.5% in 2022. CVD encompasses a range of conditions affecting the heart and blood vessels (including coronary artery disease, heart failure, stroke, and peripheral artery disease), making it a leading cause of death. Vitamin K2 is a form of vitamin K linked to potential cardiovascular benefits. A critical mechanism by which vitamin K2 impacts cardiovascular health is its role in regulating calcium metabolism. Vitamin K2 has been found to play a significant role in inhibiting arterial calcification by activating proteins that help regulate calcium deposition, thus reducing the risk of atherosclerosis and related cardiovascular disorders. A study by “the Journal of Nutrition” found that higher vitamin K2 intake was linked to a lower risk of coronary heart disease mortality.

Osteoporosis is an increasingly common health issue affecting adults and babies, a disorder marked by weakening and fragile bones. According to a Research Gate study in 2022, osteoporosis is prevalent in 6–33% of Brazilians. Medical professionals are concerned about the surge in osteoporosis-related bone distortion cases. Vitamin K2 supplementation has demonstrated promising outcomes in enhancing bone mineral density and lowering fracture risk among adults. Hence, vitamin K2 supplementation acts as a potential supplementary therapy that helps with calcium metabolism, bone mineralization, and the prevention of fractures.

Thus, the increasing prevalence of CVD and osteoporosis is driving the Brazil vitamin K2 market growth.

Segmental Analysis

Based on product, the Brazil vitamin K2 market is segmented into MK-4, MK-7, and combination drugs. In 2022, the MK-7 segment accounted for the largest Brazil vitamin K2 market share, and it is anticipated to register the highest CAGR during the forecast period. The segment growth is attributed to the advancements in dietary supplement preparation in personalized nutrition. MK-7 is an advanced, fat-soluble form of vitamin K2 that serves multiple bodily functions. MK-7 has been proven to provide 24-hour protection to bones and teeth from a single daily dose. MK-7 has a much longer half-life in the body and stays in the blood the longest than other forms of vitamin K2, owing to its presence in liver tissues as well as in bones, arteries, and soft tissues. According to MenaQ7, 45 mcg of MK-7 per day can increase carboxylation and activate vitamin K-dependent proteins, such as osteocalcin for bone health and Matrix GLA Protein (MGP), for heart health.

Based on dosage forms, the Brazil vitamin K2 market is segmented into capsules and tablets, powder, and oils. The powder segment held the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period. Vitamin powder disintegrates more quickly in water than other liquids, owing to which there is a growing demand for the powder form of vitamin K2. When consumed with water, vitamin K2 products get absorbed faster in powder form than in capsule or tablet form. People having high calcium levels are treated with vitamin K2 powder. The vitamin helps reduce calcium absorption, lowering the risk of developing kidney stones or osteoporosis. Blood-thinning drugs (anticoagulants), such as warfarin, can cause bleeding, which can be slowed or stopped completely with the consumption of vitamin K2.

Based on source, the Brazil vitamin K2 market is bifurcated into natural and synthetic. The natural segment held a larger share of the market in 2022 and is expected to register a higher CAGR during the forecast period. The growth of the segment is attributed to the ease of availability of natural sources of vitamin K2. Natural vitamin K2, found in dark leafy greens, is essential for metabolism and blood clotting. Vitamin K2, or menaquinone, is present in small amounts in offal and fermented foods. Gut bacteria also produce vitamin K2. Further, fermented foods are also good vitamin K2 sources.

Based on application, the Brazil vitamin K2 market is segmented into pharmaceuticals, nutraceuticals and food, and others. The pharmaceuticals segment held the largest share of the market in 2022. However, the nutraceuticals and food segment is expected to grow at the highest CAGR during the forecast period. The pharmaceuticals segment growth is due to the growing cases of Vitamin K Deficiency Bleeding (VKDB) and cardiovascular diseases and the rising demand for pharmaceutical vitamin tablets/powders. For instance, early and classic VKDB affects 1 in 60 to 1 in 250 newborns, respectively, according to the Centers for Disease Control and Prevention (CDC). The pharmaceutical industry increasingly manufactures vitamin K2 as it improves dental, bone, and cardiovascular health and helps in the treatment of osteoporosis and cardiovascular diseases. However, the nutraceuticals and food segment is expected to grow due to the high customer demand for nutritional and dietary supplements to address various nutritional deficiencies. As a dietary supplement, Vitamin K2 is added to dietary supplements and foods to increase their nutritional value. Also, vitamin K2 can be used in food and health and dietary supplements, as well as functional foods.

Key Player Analysis

The Brazil vitamin K2 market majorly consists of players such as Lesaffre (Natto Pharma), DSM (DSM-Firmenich), PLT Health Solutions Inc, International Flavors & Fragrances Inc, BASF SE, AdvaCare Pharma USA LLC, Metabolics Ltd., IAF Network SpA (Yamamoto Nutrition), Balchem Corp, and Biolab Sanus Farmaceutica Ltda. Lesaffre (Natto Pharma) and Biolab Sanus Farmaceutica Ltda are the top two players operating in the Brazil vitamin K2 market owing to their diversified product portfolio.

Lesaffre operates in various business segments, which include baking, food taste and pleasure, health care, and industrial biotechnology. Further, they have expanded their business into the fields of fermented beverages, plant & animal nutrition, human health & nutrition, bioethanol, bio-sourced chemical, and bioscience industries. The company has operations in sixty-nine production sites and has ten R&D centers across the globe. In May 2021, Lesaffre acquired Natto Pharma; the acquisition was made through Lesaffre's Gnosis, a business unit dedicated to human care. Natto Pharma is among the key players specializing in vitamin K2; the acquisition has helped Lesaffre to expand its business of vitamin K2 and become a leading player.

Natto Pharma sells vitamin K2 under the brand name MenaQ7 through its distribution networks. In 2017, Natto Pharma expanded the presence of MenaQ7 Vitamin K2 as MK-7 in Brazil by partnering with Nutriangels. Biolab Farmaceutica was established in 1997, and is involved in the research, development, and sales of medicines. It is among the top leading companies in Brazil. The company offers a wide product portfolio with more than 100 products and claims them to be made after comprehensive research and innovations; it also holds over 400 patents. The major business segment of the company is cardiology, and it develops and manufactures products for various other segments, including dermatology, gynecology, pediatrics, central nervous system, orthopedics & rheumatology, angiology, and dermocosmetics.

Recent Developments

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the Brazil vitamin K2 market. A few recent key market developments are listed below:

• In May 2023, DSM has announced its merger with Firmenich to create a robust platform for reinventing, manufacturing, and combining vital nutrients, flavors, and fragrances. The announcement was done for creating a new brand called as dsm-firmenich, under which the companies will have competitive edge over and growth opportunities for Nutrition, Health, & Beauty segments.
• In April 2023, DSM announced its plan to negotiate with Adare Pharma Solutions to acquire its Adare Biome for US$ 301.2 million (€275 million). The acquisition will enable DSM to expand its human health and animal nutrition offerings.
• In April 2023, Gnosis by Lesaffre presented research results of the study 'MenaQ7: Expanding Vitamin K2's Full Potential' at Vitafoods, Geneva. The results showcased formulation of K2 as the source material to be used for heart and bone. The results on safety and efficacy of K2 for heart and bone benefits were positive. Thus, company is looking forward to supporting its partners developing innovative products for the industry.  
• In October 2022, at SupplySide West trade show in Las Vegas, Gnosis by Lesaffre presented new iteration of its MenaQ7 vitamin K2 MK-7 ingredient. The new ingredient is made from the company's Matrix technology that protects MK-7 particles without the use of coatings and additives, hence also called MenaQ7 Matrix.
• In October 2022, PLT Health Solutions, Inc. announced that Non-GMO Project company offered it non-GMO verification for its menatto. The verification includes raw materials, manufacturing processes and logistics for menatto. In March 2022, the company introduced menatto in the US, which is manufactured by edible oils producer J-Oil Mills, Tokyo, Japan.
• In June 2022, Balchem Corporation announced complete acquisition of Kappa Bioscience AS. The acquisition has helped Balchem to expand its product portfolio by adding Kappa Biocsience AS's specialty vitamin K2.