Vitamin K3 Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2023
“Factors such as increase in vitamin deficiency and rise in consciousness regarding vitamin supplements. In addition, change in consumer lifestyle along with an increase in beauty products usage and increasing health awareness among the population are likely to propel the vitamin K3 market in the forthcoming period.”
Global vitamin K3 market is anticipated to witness an exponential growth in the forecast period. Vitamin K3 is also known as “Menadione”. It is an organic compound used as a nutritional supplement. At present, it is being used in pharmaceutical products and animal feed as well as in research for treatment of prostate cancer. Factors such as increase in vitamin deficiency and rise in consciousness regarding vitamin supplements. In addition, change in consumer lifestyle along with an increase in beauty products usage and increasing health awareness among the population are likely to propel the vitamin K3 market in the forthcoming period. On the other hand, stringent rules set by government establishments such as FDA and low product penetration in emerging countries are anticipated to hinder the market growth in the future. However, technological progressions in vitamin delivery systems are likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Vitamin K3 market is segmented by grade type, application, distribution channel, and geography. Market is segmented by grade type as feed grade, food grade, and pharmaceutical grade. The “Pharmaceutical Grade” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factor that could be attributed to the growth of the market includes high demand from key industries. Get Sample Copy of this Report @ https://www.millioninsights.com/industry-reports/vitamin-k3-market/request-sample