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Phylloquinone Market by Grade (Food Grade, Pharmaceutical Grade) by Route of Administration (Parental, Oral, Topical) by Application (Vitamin K deficiency, Warfarin overdose, Obstructive jaundice, Osteoporosis, Others) - Growth, Future Prospects And Competitive Analysis, 2016 - 2028

Phylloquinone, also known as Vitamin K or Phytomenadione, is generally found in food and is usually taken as a dietary supplement. Phylloquinone is quite effective in treating some disorders, including vitamin k deficiency, obstructive jaundice, and warfarin overdose. Phylloquinone is generally taken as an oral supplement or, sometimes, parental and topical. However, the consumption of Phylloquinone is associated with specific side effects such as pain at the injection site and taste alteration. Exceptionally it may cause a severe allergic reaction.

phylloquinone-market

The Global Phylloquinone market is expected to witness a CAGR of 7.95% during the forecast period. The revenue generated by the global Phylloquinone market in 2021 was over USD 483.92 million and is expected to generate revenue worth USD 880.66 million in 2028. Therefore, the incremental growth opportunity offered by the global Phylloquinone is estimated to be USD 4.96 billion between 2022 and 2028.   

Interesting Facts about Phylloquinone Industry

  • Green leafy vegetables are the primary source of Phylloquinone
  • Phylloquinone is highly beneficial in the bleeding disorder
  • Major health concerns associated with Phylloquinone are related to injectables phytonadione
  • Vitamin K deficiency is more common in infants
  • Currently, over 200 million people are suffering from osteoporosis

Changing Lifestyle Causing Vitamin K Deficiency 

Vitamin K deficiency, Warfarin overdose, Obstructive jaundice, Osteoporosis, and Others are significant applications of Phylloquinone. Vitamin K deficiency is the leading application of Phylloquinone, with over 40% share in 2021. Rapidly changing lifestyles and food habits result in vitamin k deficiency in developed and emerging countries. Increasing junk food and decreasing consumption of green leafy vegetables cause chronic diseases due to vitamin deficiencies. Phylloquinone is crucial for restoring the vitamin k level in the body as it is fat absorbable and essential for bone and dental health. Additionally, it plays a vital role in blood clotting and is very important in bleeding disorders. This, in turn, drives the demand for Phylloquinone.

Pharmaceutical Grade of Phylloquinone to Dominate the Demand with over 75% share

Food Grade and Pharmaceutical Grade are two significant grades of Phylloquinone. Pharmaceutical grade of Phylloquinone dominates the demand with over 75% share in 2021. Pharma grade Phylloquinone is growing in demand owing to ever-increasing incidences of vitamin d deficiency and a rise in chronic diseases related to bleeding. While food grade Phylloquinone is also expected to increase in its share by growing at a lucrative CAGR over the forecast period.

Oral Dosage of Phylloquinone to Rule the Industry

Parental, Oral and Topical are significant routes of administration of Phylloquinone in the human body. Oral administration dominates the industry, with over 60% of total Phylloquinone consumed in 2021. While topical administration also held a significant share in 2021. However, specific side effects are associated with the topical administration, such as pain, dizziness, low blood pressure, cyanosis, etc. In light of this, the oral supplement of Phylloquinone is likely to grow at a rapid pace as compared to the other two types of administration.

Strong Focus on Research & Development

Shandong Guangtongbao Pharmaceuticals, Anhui Wanhe Pharmaceutical, Nutrilo, DSM, Yongan Pharmaceutical, Zhejiang Chengyi Pharmaceutical, and BASF SE are significant players operating in the global Phylloquinone market. All prominent players are highly focused on Research and Development activities to develop the most effective products. The primary focus of R&D activities is focused on an exploration of the role of vitamin k in infants, adults, and the geriatric population. Moreover, studies are researching the bioavailability and absorption of Phylloquinone into the intestine and its effect on metabolism. Moreover, the increasing incidence of bleeding disorders is forcing companies to develop a more effective solution to treat these disorders using vitamin k. This, in turn, will trigger the demand for Phylloquinone in the years to come.

Phylloquinone Market Dominated by Europe and North America

The Global Phylloquinone market is collectively dominated by Europe and North America, with around two third share in total revenue generation in 2021. North America leads the demand with the majority of the consumption in 2021. While, the Europe Phylloquinone market is triggered by the strong and consistent growth in Germany, the UK, and France. In contrast, the Asia Pacific market for Phylloquinone is mainly mobilized by the rising demand from China, Japan, South Korea, Singapore, Taiwan, and India. Huge untapped potential and a large population suffering from disorders that demand vitamin k supplements in the regional market is the most lucrative market for the future growth of the Phylloquinone industry. It is also expected to exhibit a robust CAGR of over 8% during the forecast period.

Frequently asked questions

Unlike other industries, COVID 19 also taken a toll on Phylloquinone market with around 10.41% decline in its revenue growth rate in 2020 as compare to 2019

North America is the largest regional market with highest share in the total revenue generation of Phylloquinone consumed in 2021

Increasing incidence rate of vitamin k deficiency in Europe and North America is mainly fuelling the demand for Phylloquinone

Pharmaceutical Grad segment dominated the Phylloquinone market in 2021 with over 75% share

Oral was the largest segment of Phylloquinone by mounting in 2021 with over 60% share

Phylloquinone Report Scope

Report Attribute Details
Market Value in 2021 USD 483.92 million
Market Value in 2028 USD 880.66 million
CAGR 7.95% between 2022 and 2028
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Segments covered

Grade

Food Grade

Pharmaceutical Grade

Route of Administration

Parental

Oral

Topical

Application

Vitamin K deficiency

Warfarin overdose

Obstructive jaundice

Osteoporosis

Others

Regional scope North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
Cost of the Report Write us at [email protected]
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Mar 2022
Category:  Chemicals
Report ID:   60524
Report Format:   PDF
Pages:   128
Rating:    4.2 (21)
Delivery Time: 24 Hours to 48 Hours   
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