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       <div class="bla1" style="color: #4D4D4D;"> Crocin and other apocarotenoids form the saffron not only give it its unique taste flavor and aroma but has potentials as neuroprotective, antioxidant, anticancer and antitumor.<br>However, in fulfilling prospective demand of the saffron compound, specifically crocin, it takes a large amount of land to cultivate the plants needed. To know how our project of producing saffron metabolites fare in the business realm, we conducted a market analysis.  
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      MARKET ANALYSIS
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       <div class="bla1" style="color: #00B5B5;"> So we wanted to produce crocin, but then what? Before going through with our project we wanted to make sure that we were actually doing something of worth, so we started off by doing a market analysis to confirm that there exists a market for crocin.  
 
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      <div class="bla1" style="color: #00B5B5;"> With the market analysis we concluded that the compounds in the crocin pathway are very expensive, since today the only way to get them are to extract them from saffron. Saffron itself is harvested in a very labour-intensive process and Iran holds 95 % of the saffron production. This means that being able to produce the compounds synthetically could reduce the costs drastically. It’s hard to calculate exactly by how much the cost could be reduced since crocin is still very unexplored, but when comparing our project to a study done on cellulase enzymes we can estimate that a reduction of the price by 30% is possible and furthermore a reduction of 85% is possible on the industrial scale. These numbers definitely incouraged us to go ahead with the project. You can read the entire market analysis <a href="https://static.igem.org/mediawiki/2017/d/d8/Uppsala-Market-analysis.pdf" target="_blank"> here</a>.
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Latest revision as of 23:56, 1 November 2017

<!DOCTYPE html> Human Practices

MARKET ANALYSIS

So we wanted to produce crocin, but then what? Before going through with our project we wanted to make sure that we were actually doing something of worth, so we started off by doing a market analysis to confirm that there exists a market for crocin.
With the market analysis we concluded that the compounds in the crocin pathway are very expensive, since today the only way to get them are to extract them from saffron. Saffron itself is harvested in a very labour-intensive process and Iran holds 95 % of the saffron production. This means that being able to produce the compounds synthetically could reduce the costs drastically. It’s hard to calculate exactly by how much the cost could be reduced since crocin is still very unexplored, but when comparing our project to a study done on cellulase enzymes we can estimate that a reduction of the price by 30% is possible and furthermore a reduction of 85% is possible on the industrial scale. These numbers definitely incouraged us to go ahead with the project. You can read the entire market analysis here.