Patented Strain Licensing and Formulatio Diagram

Strengths

• Proprietary patented strains break foreign monopolies, and approval qualifications establish a first-mover barrier

Weaknesses

• High market education costs; downstream customers have a relatively long acceptance cycle for novel raw materials

Opportunities

• Large global alternative protein market size; policies encourage the approval of new food ingredients

Threats

• International giants' patent layouts and price competition; regulatory changes may affect approved varieties

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