Sodium Ascorbyl Phosphate Market Insights 2026, Analysis and Forecast to 2031
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Industry and Product Overview
The global Sodium Ascorbyl Phosphate (SAP) market represents a specialized but rapidly expanding segment within the broader cosmetic active ingredients and nutritional additives industry. Sodium Ascorbyl Phosphate (CAS No. 66170-10-3), also known as L-ascorbic acid-2-phosphate trisodium salt or SAP, is a highly stable, water-soluble derivative of Vitamin C. Unlike pure ascorbic acid, which is prone to rapid oxidation and degradation when exposed to light, heat, or air, SAP maintains its potency in various formulations, making it a preferred ingredient for high-performance skincare products, dietary supplements, and animal nutrition.
Product Characteristics and Market Positioning
As a white or off-white crystalline substance, SAP functions primarily as an antioxidant, a collagen synthesis promoter, and a potent skin-brightening agent. Upon absorption into the skin, it enzymatically cleaves to release pure Vitamin C, thereby delivering the benefits of ascorbic acid without the associated stability issues.
* Cosmetic Sector: It is widely recognized for its ability to treat acne (due to antimicrobial properties against *Cutibacterium acnes*), reduce hyperpigmentation (by inhibiting tyrosinase), and neutralize free radicals.
* Nutritional Sector: It serves as a source of Vitamin C in supplements and fortified foods, offering better shelf stability than standard ascorbic acid.
* Feed Sector: In aquaculture and livestock, it prevents scurvy and boosts immune systems, particularly in species where stability in water or feed premixes is critical.
The market is currently transitioning from a niche specialty chemical sector to a mainstream functional ingredient market. This shift is driven by the "clean beauty" movement and the rise of "skintellectuals"—consumers who actively seek out specific active ingredients like stable Vitamin C derivatives. The industry is characterized by high technical barriers to entry regarding purification and stabilization, yet it faces intense pricing pressure due to the commoditization of upstream raw materials (Vitamin C/Ascorbic Acid).
Market Size and Growth Forecast (2026-2031)
Based on current industry trajectories, capacity expansions in major manufacturing hubs, and downstream demand from the personal care giants, the market is poised for steady growth.
* Estimated Market Size (2026): USD 320 Million – USD 480 Million (Estimate Range).
* Compound Annual Growth Rate (CAGR) Forecast (2026-2031): 6.5% – 8.5%.
Note: The growth estimation is predicated on the increasing substitution of unstable L-ascorbic acid with stable derivatives in cosmetic formulations and the expanding production capacities in China, as evidenced by recent facility upgrades by key players.
Regional Market Analysis
The consumption and production of Sodium Ascorbyl Phosphate show a distinct geographical divergence, with production heavily concentrated in the Asia-Pacific region and high-value consumption distributed across North America, Europe, and Asia.
● North America
* Estimated Growth Rate (CAGR): 5.0% – 7.0%
* Market Trends: The United States dominates the regional market, driven by a mature cosmeceutical industry. There is a strong demand for anti-aging serums and acne treatments containing SAP. The trend in North America is shifting towards high-concentration formulations (e.g., 10-20% Vitamin C blends). Regulatory scrutiny by the FDA regarding cosmetic claims ensures that ingredients with proven efficacy, like SAP, are favored over speculative novel compounds.
● Europe
* Estimated Growth Rate (CAGR): 4.5% – 6.5%
* Market Trends: Europe remains a stronghold for premium cosmetics, with France, Germany, and Italy leading the way. The region's stringent REACH regulations and the EU Cosmetics Regulation prioritize ingredient safety, favoring the stable and non-irritating profile of SAP. Sustainability is a key driver here; European manufacturers (like BASF and DSM-Firmenich) emphasize low-carbon footprint production methods to cater to eco-conscious consumers.
● Asia-Pacific (APAC)
* Estimated Growth Rate (CAGR): 7.5% – 9.5%
* Market Trends: APAC is the fastest-growing region and the global production hub.
* China: China is the undisputed leader in supply, accounting for the vast majority of raw material (Ascorbic Acid) production and SAP synthesis. Domestic consumption in China is also booming due to the "whitening" and "brightening" skincare trends.
* Japan & South Korea: These markets are innovation leaders. K-Beauty and J-Beauty brands heavily utilize SAP in multi-step skincare routines, driving demand for high-purity grades.
● South America
* Estimated Growth Rate (CAGR): 5.5% – 7.5%
* Market Trends: Brazil is one of the world’s largest beauty markets. The demand for sun care and skin repair products is high due to climatic conditions. SAP is increasingly incorporated into sun protection formulations to boost photoprotection efficacy. Economic volatility in the region, however, makes cost-effective sourcing from Asian suppliers critical.
● Middle East and Africa (MEA)
* Estimated Growth Rate (CAGR): 4.0% – 6.0%
* Market Trends: The market is in a nascent but growing stage. The Gulf Cooperation Council (GCC) countries are seeing a rise in luxury personal care consumption. In broader Africa, the focus is on affordable personal care, where SAP competes with cheaper, less stable alternatives, though urbanization is gradually shifting preferences toward higher-quality ingredients.
Application and Segmentation Analysis
● Cosmetics and Personal Care (Dominant Segment)
The cosmetic sector accounts for the largest share of the Sodium Ascorbyl Phosphate market.
* Skin Care: This is the primary application. SAP is a staple in serums, moisturizers, and spot treatments. Its ability to treat acne without the irritation associated with Retinols or Benzoyl Peroxide makes it highly valuable.
* Suncare: Formulators are increasingly adding SAP to sunscreens. While it is not a UV filter, its antioxidant properties mitigate the oxidative stress caused by UV radiation, boosting the overall protection factor (SPF) claims.
* Hair Care: Niche applications include scalp treatments where SAP supports follicle health through improved blood flow and collagen support.
● Dietary Supplements and Nutrition
* Supplements: As a mineral salt of ascorbic acid, SAP is used in oral supplements. It is less acidic than ascorbic acid, making it gentler on the stomach (gastric tolerance). It is often marketed in "buffered Vitamin C" products.
* Functional Foods: Its stability allows for incorporation into fortified beverages and solid foods where traditional Vitamin C would degrade during processing or shelf storage.
● Animal Feed and Others
* Aquaculture: In high-value aquaculture (e.g., shrimp and salmon farming), stable Vitamin C is crucial for survival rates and stress resistance. SAP is used because it does not leach or degrade rapidly in water.
* Livestock: Used as an immunity booster, though cost considerations often limit its use to starter feeds or high-value breeding stock compared to cheaper coated ascorbic acid.
Value Chain and Supply Chain Structure
The Sodium Ascorbyl Phosphate industry operates within a complex global value chain heavily influenced by the availability of raw materials.
* Upstream (Raw Materials): The primary feedstock is L-Ascorbic Acid (Vitamin C) and phosphorylating agents (typically phosphorus oxychloride or similar reagents). The global supply of Vitamin C is heavily concentrated in China, which dictates the baseline cost structure for SAP. Fluctuations in corn prices (the substrate for Vitamin C fermentation) directly impact SAP production costs.
* Midstream (Synthesis and Manufacturing): This stage involves the phosphorylation of Vitamin C followed by neutralization with sodium sources. Key processes include reaction control, crystallization, and purification.
* *Western Manufacturers:* Focus on proprietary synthesis methods, high purity, traceability, and sustainability certifications.
* *Asian Manufacturers:* Focus on capacity scaling, vertical integration (often producing their own Vitamin C), and cost leadership.
* Downstream (Distribution and Formulation): Chemical distributors play a vital role in breaking bulk quantities for smaller cosmetic labs. Brand owners (Formulators) blend SAP into final products. The efficacy of the final product depends heavily on the stabilization of the formula, although SAP is inherently more forgiving than its precursors.
Key Market Players and Competitive Landscape
The competitive landscape is bifurcated between large multinational chemical conglomerates and specialized biotech manufacturers in China.
● Major International Players
* BASF SE: A global leader offering high-performance ingredients. BASF focuses on supplying high-purity SAP with extensive clinical data to support efficacy claims, catering to premium international brands.
* DSM-Firmenich: A powerhouse in vitamins and nutritional ingredients. Their SAP offerings are often bundled with technical support and formulation expertise, emphasizing sustainability and "Quality for Life."
● Key Manufacturers in China
China represents the manufacturing engine of this industry. Recent years have seen significant consolidation and capacity expansion among these players.
* Anhui Tianyin Biotech Co. Ltd.: A major player demonstrating aggressive growth. In 2024, the company executed a significant expansion project, adding a 200 tons/year production line for Sodium Ascorbyl Phosphate. This expansion brought their total specific capacity for this product to 300 tons/year, signaling strong confidence in future market demand and positioning them as a volume leader.
* Anhui Shun Lee Biology Co. Ltd.: Another key stakeholder in the region, focusing on consistent supply. The company maintains a production capacity of 100 tons/year for Sodium Ascorbyl Phosphate, catering to both domestic and export markets.
* Hubei Artec Biotechnology Co. Ltd.: Known for specialization in cosmetic additives and carbohydrate chemistry, providing cosmetic-grade SAP.
* Sanmenxia Hengtong Biotechnology Co. Ltd.: Focuses on enzymatic and fermentation technologies to produce Vitamin C derivatives.
* Plamed Green Science Group: Focuses on natural and plant-based cosmetic ingredients, integrating SAP into broader natural formulation solutions.
* Yantai Aurora Chemical Co. Ltd. & Guangdong Luckerkong Biotech Co. Ltd.: Active in the distribution and manufacturing of fine chemicals, contributing to the competitive pricing in the APAC region.
Opportunities and Challenges
● Market Opportunities
* The "Skinimalism" Trend: Consumers are simplifying routines but demanding higher efficacy. SAP’s multifunctional nature (acne + anti-aging + brightening) fits perfectly into the "all-in-one" serum trend.
* Men’s Grooming: The growing men's skincare market requires non-greasy, fast-absorbing, and effective ingredients. SAP is stable and odor-free, making it ideal for male-targeted formulations.
* Natural Preservation: Research suggests SAP has synergistic effects with antimicrobial systems, potentially allowing formulators to reduce the use of controversial synthetic preservatives (like parabens) in favor of "self-preserving" systems aided by SAP.
● Market Challenges
* Raw Material Price Volatility: Since SAP is a downstream derivative of Vitamin C, any disruption in the global Vitamin C supply chain (e.g., environmental inspections in production hubs, corn price hikes) causes immediate price instability for SAP.
* Counterfeit and Low-Quality Products: The market faces challenges from low-purity grades that contain high levels of free ascorbic acid or heavy metals. Differentiating high-quality, stable SAP from inferior substitutes is a constant challenge for reputable manufacturers.
* Regulatory Hurdles: While SAP is generally safe, evolving regulations regarding "whitening" agents (especially in Asian markets like China and South Korea) require manufacturers to constantly update safety dossiers and efficacy data to maintain compliance.
1.1 Study Scope 1
1.2 Research Methodology 2
1.2.1 Data Sources 2
1.2.2 Assumptions 3
1.3 Abbreviations and Acronyms 5
Chapter 2 Global Sodium Ascorbyl Phosphate Market Status and Forecast 6
2.1 Global Sodium Ascorbyl Phosphate Market Size and CAGR (2021-2031) 6
2.2 Global Sodium Ascorbyl Phosphate Capacity, Production and Production Value (2021-2031) 7
2.3 Global Sodium Ascorbyl Phosphate Demand and Consumption (2021-2031) 8
2.4 Global Average Price Trends (2021-2031) 9
Chapter 3 Global Competition Pattern by Manufacturers 10
3.1 Global Sodium Ascorbyl Phosphate Production and Market Share by Manufacturers (2021-2026) 10
3.2 Global Sodium Ascorbyl Phosphate Revenue and Market Share by Manufacturers (2021-2026) 11
3.3 Global Sodium Ascorbyl Phosphate Average Price by Manufacturers (2021-2026) 12
3.4 Market Concentration Rate (CR5 and HHI) 13
3.5 Manufacturing Base Distribution and Headquarters 14
Chapter 4 Global Supply: Production and Capacity Analysis by Region 15
4.1 Global Sodium Ascorbyl Phosphate Production by Region (2021-2031) 15
4.2 China Sodium Ascorbyl Phosphate Production and Capacity Analysis 16
4.3 Europe Sodium Ascorbyl Phosphate Production and Capacity Analysis 17
4.4 North America Sodium Ascorbyl Phosphate Production and Capacity Analysis 18
4.5 Rest of World Production Analysis 19
Chapter 5 Global Demand: Consumption Analysis by Region 20
5.1 Global Sodium Ascorbyl Phosphate Consumption by Region (2021-2031) 20
5.2 North America (United States, Canada) 21
5.3 Europe (Germany, France, UK, Italy) 23
5.4 Asia-Pacific (China, Japan, Korea, India, Southeast Asia) 25
5.5 Latin America (Brazil, Mexico) 27
5.6 Middle East & Africa (Turkey, GCC, Egypt) 28
Chapter 6 Segment by Type 30
6.1 Global Sodium Ascorbyl Phosphate Production by Type (2021-2031) 30
6.2 Cosmetic Grade 31
6.3 Food Grade 32
6.4 Pharmaceutical Grade 33
Chapter 7 Segment by Application 34
7.1 Global Sodium Ascorbyl Phosphate Consumption by Application (2021-2031) 34
7.2 Cosmetics and Personal Care 35
7.3 Dietary Supplements 36
7.4 Others 37
Chapter 8 Key Market Players Analysis 38
8.1 BASF SE 38
8.1.1 BASF SE Company Introduction 38
8.1.2 BASF SE SWOT Analysis 39
8.1.3 BASF SE Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 40
8.1.4 BASF SE R&D Status and Marketing Strategy 41
8.2 DSM-Firmenich 42
8.2.1 DSM-Firmenich Company Introduction 42
8.2.2 DSM-Firmenich SWOT Analysis 43
8.2.3 DSM-Firmenich Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 44
8.3 Hubei Artec Biotechnology Co. Ltd. 45
8.3.1 Hubei Artec Company Introduction 45
8.3.2 Hubei Artec SWOT Analysis 46
8.3.3 Hubei Artec Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 47
8.4 Anhui Tianyin Biotech Co. Ltd. 49
8.4.1 Anhui Tianyin Company Introduction 49
8.4.2 Anhui Tianyin SWOT Analysis 50
8.4.3 Anhui Tianyin Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 51
8.5 Sanmenxia Hengtong Biotechnology Co. Ltd. 53
8.5.1 Sanmenxia Hengtong Company Introduction 53
8.5.2 Sanmenxia Hengtong SWOT Analysis 54
8.5.3 Sanmenxia Hengtong Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 55
8.6 Anhui Shun Lee Biology Co. Ltd. 57
8.6.1 Anhui Shun Lee Company Introduction 57
8.6.2 Anhui Shun Lee SWOT Analysis 58
8.6.3 Anhui Shun Lee Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 59
8.7 Plamed Green Science Group 61
8.7.1 Plamed Green Company Introduction 61
8.7.2 Plamed Green SWOT Analysis 62
8.7.3 Plamed Green Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 63
8.8 Yantai Aurora Chemical Co. Ltd. 65
8.8.1 Yantai Aurora Company Introduction 65
8.8.2 Yantai Aurora SWOT Analysis 66
8.8.3 Yantai Aurora Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 67
8.9 Guangdong Luckerkong Biotech Co. Ltd. 69
8.9.1 Guangdong Luckerkong Company Introduction 69
8.9.2 Guangdong Luckerkong SWOT Analysis 70
8.9.3 Guangdong Luckerkong Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 71
Chapter 9 Industrial Chain and Manufacturing Cost Analysis 73
9.1 Sodium Ascorbyl Phosphate Industrial Chain Analysis 73
9.2 Raw Material Supply and Price Analysis 74
9.3 Manufacturing Process Analysis 76
9.4 Cost Structure Analysis 78
Chapter 10 Marketing Channel and Distributor Analysis 80
10.1 Marketing Channel Status 80
10.2 Top Distributors and Customers 81
10.3 Market Entry Strategy 83
Chapter 11 Market Dynamics and Opportunities 85
11.1 Market Drivers 85
11.2 Market Challenges 86
11.3 Market Trends 87
Chapter 12 Research Findings and Conclusion 89
Table 2. Global Sodium Ascorbyl Phosphate Capacity and Production (MT) (2021-2031) 7
Table 3. Global Sodium Ascorbyl Phosphate Demand (MT) by Region (2021-2031) 8
Table 4. Global Sodium Ascorbyl Phosphate Production (MT) by Manufacturers (2021-2026) 10
Table 5. Global Sodium Ascorbyl Phosphate Revenue (Million USD) by Manufacturers (2021-2026) 11
Table 6. Global Sodium Ascorbyl Phosphate Average Price (USD/kg) by Manufacturers (2021-2026) 12
Table 7. Global Sodium Ascorbyl Phosphate Manufacturers Market Concentration Ratio (CR5 and HHI) 13
Table 8. Global Sodium Ascorbyl Phosphate Production (MT) by Region (2021-2031) 15
Table 9. Global Sodium Ascorbyl Phosphate Consumption (MT) by Region (2021-2031) 20
Table 10. Global Sodium Ascorbyl Phosphate Production (MT) by Type (2021-2031) 30
Table 11. Global Sodium Ascorbyl Phosphate Consumption (MT) by Application (2021-2031) 34
Table 12. BASF SE Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 40
Table 13. DSM-Firmenich Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 44
Table 14. Hubei Artec Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 47
Table 15. Anhui Tianyin Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 51
Table 16. Sanmenxia Hengtong Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 55
Table 17. Anhui Shun Lee Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 59
Table 18. Plamed Green Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 63
Table 19. Yantai Aurora Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 67
Table 20. Guangdong Luckerkong Sodium Ascorbyl Phosphate Capacity, Production, Price, Cost and Gross Profit Margin (2021-2026) 71
Table 21. Raw Material Suppliers and Price Trend 74
Table 22. Major Distributors and Downstream Buyers 81
Figure 1. Global Sodium Ascorbyl Phosphate Market Size (Million USD) and Growth Rate (2021-2031) 6
Figure 2. Global Sodium Ascorbyl Phosphate Capacity, Production (MT) and Utilization Rate (2021-2031) 7
Figure 3. Global Sodium Ascorbyl Phosphate Consumption (MT) Forecast (2021-2031) 8
Figure 4. Global Sodium Ascorbyl Phosphate Price Trend (USD/kg) (2021-2031) 9
Figure 5. Global Sodium Ascorbyl Phosphate Production Market Share by Manufacturers (2025) 10
Figure 6. Global Sodium Ascorbyl Phosphate Revenue Market Share by Manufacturers (2025) 11
Figure 7. Global Sodium Ascorbyl Phosphate Production Market Share by Region (2025) 15
Figure 8. China Sodium Ascorbyl Phosphate Capacity and Production Growth (2021-2031) 16
Figure 9. Europe Sodium Ascorbyl Phosphate Capacity and Production Growth (2021-2031) 17
Figure 10. Global Sodium Ascorbyl Phosphate Consumption Market Share by Region (2025) 20
Figure 11. North America Sodium Ascorbyl Phosphate Consumption Growth (2021-2031) 21
Figure 12. Europe Sodium Ascorbyl Phosphate Consumption Growth (2021-2031) 23
Figure 13. Asia-Pacific Sodium Ascorbyl Phosphate Consumption Growth (2021-2031) 25
Figure 14. Global Sodium Ascorbyl Phosphate Production Market Share by Type (2025) 30
Figure 15. Global Sodium Ascorbyl Phosphate Consumption Market Share by Application (2025) 34
Figure 16. BASF SE Sodium Ascorbyl Phosphate Market Share (2021-2026) 40
Figure 17. DSM-Firmenich Sodium Ascorbyl Phosphate Market Share (2021-2026) 44
Figure 18. Hubei Artec Sodium Ascorbyl Phosphate Market Share (2021-2026) 48
Figure 19. Anhui Tianyin Sodium Ascorbyl Phosphate Market Share (2021-2026) 52
Figure 20. Sanmenxia Hengtong Sodium Ascorbyl Phosphate Market Share (2021-2026) 56
Figure 21. Anhui Shun Lee Sodium Ascorbyl Phosphate Market Share (2021-2026) 60
Figure 22. Plamed Green Sodium Ascorbyl Phosphate Market Share (2021-2026) 64
Figure 23. Yantai Aurora Sodium Ascorbyl Phosphate Market Share (2021-2026) 68
Figure 24. Guangdong Luckerkong Sodium Ascorbyl Phosphate Market Share (2021-2026) 72
Figure 25. Sodium Ascorbyl Phosphate Value Chain Analysis 73
Figure 26. Manufacturing Process Flow of Sodium Ascorbyl Phosphate 76
Research Methodology
- Market Estimated Methodology:
Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.

1)Top-down & Bottom-up Approach
Top-down approach uses a general market size figure and determines the percentage that the objective market represents.

Bottom-up approach size the objective market by collecting the sub-segment information.

2)Supply & Demand Approach
Supply approach is based on assessments of the size of each competitor supplying the objective market.
Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.

- Forecasting Methodology
- Numerous factors impacting the market trend are considered for forecast model:
- New technology and application in the future;
- New project planned/under contraction;
- Global and regional underlying economic growth;
- Threatens of substitute products;
- Industry expert opinion;
- Policy and Society implication.
- Analysis Tools
1)PEST Analysis
PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.

- Benefits of a PEST analysis:
- It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
- It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
- It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
- It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.
2)Porter’s Five Force Model Analysis
The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.
- Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
- Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
- Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
- Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
- Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.

3)Value Chain Analysis
Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.

4)SWOT Analysis
SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.

- Strengths describe what the player excels at and separates it from the competition
- Weaknesses stop the player from performing at its optimum level.
- Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
- Threats refer to factors that have the potential to harm the player.
- Data Sources
| Primary Sources | Secondary Sources |
|---|---|
| Face to face/Phone Interviews with market participants, such as: Manufactures; Distributors; End-users; Experts. Online Survey |
Government/International Organization Data: Annual Report/Presentation/Fact Book Internet Source Information Industry Association Data Free/Purchased Database Market Research Report Book/Journal/News |