Tongkat Ali Extract Market
PUBLISHED: 2024 ID: SMRC25242
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Tongkat Ali Extract Market

Tongkat Ali Extract Market Forecasts to 2030 - Global Analysis By Product Type (Tablets, Powder and Capsules), Distribution Channel (Direct Sales, Online Retail, Specialty Stores and Pharmacies), Application and By Geography

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4.4 (83 reviews)
Published: 2024 ID: SMRC25242

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Tongkat Ali Extract Market is accounted for $218 million in 2023 and is expected to reach $398.51 million by 2030 growing at a CAGR of 9.0% during the forecast period. Tongkat Ali extract is derived from the roots of the Eurycoma longifolia tree, native to Southeast Asia, also known as Malaysian ginseng or Longjack, it has been used for centuries in traditional medicine for various purposes. Tongkat Ali extract is rich in bioactive compounds, including quassinoids and eurycomanone, which are believed to confer its medicinal properties. It's traditionally used as an aphrodisiac, believed to improve sexual desire and performance in both men and women. Tongkat Ali is reputed to increase testosterone levels, which may have benefits for muscle growth, athletic performance, and overall vitality. 

Market Dynamics: 

Driver: 

Rising demand for natural and herbal remedies

Tongkat Ali is renowned for its medicinal properties and traditional use in Southeast Asian herbal medicine. As consumers increasingly seek natural alternatives for health and wellness, Tongkat Ali extract has gained popularity for its purported benefits in enhancing libido, improving energy levels, and supporting overall vitality. Moreover, the rising awareness of the potential side effects of synthetic supplements has further fueled the demand for natural remedies like Tongkat Ali extract, driving market growth in the health and wellness sector.

Restraint:

Limited supply

Tongkat Ali, a slow-growing plant native to Southeast Asia, requires specific conditions to thrive, resulting in constrained availability and harvest volumes. This scarcity leads to supply shortages, higher prices, and challenges in meeting growing demand. Also, unsustainable harvesting practices and habitat loss further exacerbate supply limitations, threatening the long-term viability of Tongkat Ali extract production. 

Opportunity:

Rising awareness of the health benefits of Tongkat Ali

As consumers increasingly seek natural solutions for health and wellness, tongkat Ali’s reputed benefits, such as enhancing libido, improving sports performance, and boosting energy levels, gain traction. This heightened awareness not only drives demand for Tongkat Ali extract but also encourages product innovation and market expansion. By capitalising on this trend, companies can leverage the growing interest in natural supplements to foster consumer trust and drive sales in both existing and new markets.

Threat:

Sustainability challenges

Overharvesting of Tongkat Ali plants from their natural habitats can lead to ecological imbalances, habitat destruction, and loss of biodiversity. Unsustainable cultivation practices, such as deforestation and monoculture farming, further exacerbate environmental degradation and threaten the long-term viability of Tongkat Ali extract production. Also, inadequate regulation and enforcement of sustainable harvesting practices contribute to ecosystem depletion and habitat loss.

Covid-19 Impact

The COVID-19 pandemic has had both positive and negative impacts on the Tongkat Ali extract market. Initially, disruptions in supply chains and logistical challenges hampered production and distribution. However, increased consumer focus on health and immunity during the pandemic led to a surge in demand for natural supplements like Tongkat Ali extract. This heightened interest in health and wellness has driven market growth post-pandemic. 

The powder segment is expected to be the largest during the forecast period

The powder segment is estimated to hold the largest share. This segment offers convenience and versatility, allowing for easy incorporation into various consumer products such as supplements, beverages, and functional foods. Tongkat Ali extract powder retains the bioactive compounds and purported health benefits of the herb, including potential aphrodisiac properties and energy-boosting effects. Consumers may prefer powdered Tongkat Ali extract for its convenience in dosage control and its ability to be mixed into different formulations, making it a popular choice in the health and wellness industry. 

The pharmaceuticals segment is expected to have the highest CAGR during the forecast period

The pharmaceuticals segment is anticipated to have lucrative growth during the forecast period. Tongkat Ali extract has gained attention for its potential health benefits, including improving libido, enhancing sports performance, and boosting energy levels. Pharmaceutical companies may use Tongkat Ali extract as an active ingredient in formulations for conditions such as erectile dysfunction, fatigue, and age-related decline in vitality. Moreover, research into the efficacy and safety of Tongkat Ali extract continues, with pharmaceutical applications aiming to harness its bioactive compounds for medicinal purposes, potentially leading to the development of novel therapeutic agents.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period due to the herb's traditional use and cultural significance in countries like Malaysia, Indonesia, and Thailand. This region accounts for a substantial portion of Tongkat Ali production and consumption globally. Increasing awareness of the herb's potential health benefits, coupled with rising disposable incomes and growing demand for natural supplements, drives market growth in Asia Pacific. Additionally, the region's favourable regulatory environment for herbal products and ongoing research into Tongkat Ali's therapeutic properties further stimulate market expansion. 

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period, owing to increasing consumer interest in natural health supplements and botanical remedies. Moreover, the demand is fuelled by factors such as rising awareness of Tongkat Ali's purported benefits for libido enhancement, athletic performance, and energy levels. In addition, the region's robust regulatory framework for dietary supplements and the presence of established distribution channels contribute to market expansion. As a result, North America presents significant opportunities for companies operating in the Tongkat Ali extract market.

Key players in the market

Some of the key players in the Tongkat Ali Extract Market include Xian Tonking Biotech, Changsha Nulant Chem, SanHerb,  Guangzhou Phytochem Sciences, Xi'an Lyphar Biotech, Xi'an Arisun ChemPharm, Two Blue Diamonds, Kuber Impex, Nutragreenlife Biotechnology Co.,Ltd, LJack (M) Sdn Bhd, FZBIOTECH, Beton Nutrition Corporation, RD Health Ingredients and Tianjin Liesi International Trading Co.,Ltd.

Key Developments:

In September 2023, Beton Nutrition Corporation has announced that it has successfully exported a batch of high-quality fish oil to Ukraine. Fish oil is a high-quality nutritional and health product. Deep-sea fish oil rich in omega-3 fatty acids and DHA/EPA is a natural health food that has excellent health effects on cardiovascular, joints, brain and eyes.

In February 2023, Beton Nutrition Corporation has announced that it has delivered 200 kg of hydroxytyrosol to Ireland. HXT, or hydroxytyrosol, is a potent antioxidant. The body can benefit from this natural polyphenol in a variety of ways, including heart health, brain health, and anti-aging.

Product Types Covered:
• Tablets
• Powder
• Capsules

Distribution Channels Covered:
• Direct Sales
• Online Retail
• Specialty Stores
• Pharmacies

Applications Covered:
• Beverages
• Pharmaceuticals 
• Cosmetics 
• Neutraceuticals 
• Other Applications 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
       
2 Preface      
 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
       
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats     
 3.6 Product Analysis    
 3.7 Application Analysis   
 3.8 Emerging Markets    
 3.9 Impact of Covid-19    
       
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
       
5 Global Tongkat Ali Extract Market, By Product Type  
 5.1 Introduction    
 5.2 Tablets     
 5.3 Powder     
 5.4 Capsules     
       
6 Global Tongkat Ali Extract Market, By Distribution Channel 
 6.1 Introduction    
 6.2 Direct Sales    
 6.3 Online Retail    
 6.4 Specialty Stores    
 6.5 Pharmacies    
       
7 Global Tongkat Ali Extract Market, By Application  
 7.1 Introduction    
 7.2 Beverages    
 7.3 Pharmaceuticals    
 7.4 Cosmetics    
 7.5 Neutraceuticals    
 7.6 Other Applications    
       
8 Global Tongkat Ali Extract Market, By Geography  
 8.1 Introduction    
 8.2 North America    
  8.2.1 US    
  8.2.2 Canada    
  8.2.3 Mexico    
 8.3 Europe     
  8.3.1 Germany    
  8.3.2 UK    
  8.3.3 Italy    
  8.3.4 France    
  8.3.5 Spain    
  8.3.6 Rest of Europe   
 8.4 Asia Pacific    
  8.4.1 Japan    
  8.4.2 China    
  8.4.3 India    
  8.4.4 Australia    
  8.4.5 New Zealand   
  8.4.6 South Korea   
  8.4.7 Rest of Asia Pacific   
 8.5 South America    
  8.5.1 Argentina   
  8.5.2 Brazil    
  8.5.3 Chile    
  8.5.4 Rest of South America  
 8.6 Middle East & Africa   
  8.6.1 Saudi Arabia   
  8.6.2 UAE    
  8.6.3 Qatar    
  8.6.4 South Africa   
  8.6.5 Rest of Middle East & Africa  
       
9 Key Developments     
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
 9.2 Acquisitions & Mergers   
 9.3 New Product Launch   
 9.4 Expansions    
 9.5 Other Key Strategies   
       
10 Company Profiling     
 10.1 Xian Tonking Biotech   
 10.2 Changsha Nulant Chem   
 10.3 SanHerb     
 10.4 Guangzhou Phytochem Sciences  
 10.5 Xi'an Lyphar Biotech   
 10.6 Xi'an Arisun ChemPharm   
 10.7 TWO BLUE DIAMONDS   
 10.8 KUBER IMPEX    
 10.9 Nutragreenlife Biotechnology Co.,Ltd  
 10.10 LJack (M) Sdn Bhd    
 10.11 FZBIOTECH    
 10.12 Beton Nutrition Corporation   
 10.13 RD Health Ingredients   
 10.14 Tianjin Liesi International Trading Co.,Ltd 
       
List of Tables      
1 Global Tongkat Ali Extract Market Outlook, By Region (2021-2030) ($MN)
2 Global Tongkat Ali Extract Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Tongkat Ali Extract Market Outlook, By Tablets (2021-2030) ($MN)
4 Global Tongkat Ali Extract Market Outlook, By Powder (2021-2030) ($MN)
5 Global Tongkat Ali Extract Market Outlook, By Capsules (2021-2030) ($MN)
6 Global Tongkat Ali Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
7 Global Tongkat Ali Extract Market Outlook, By Direct Sales (2021-2030) ($MN)
8 Global Tongkat Ali Extract Market Outlook, By Online Retail (2021-2030) ($MN)
9 Global Tongkat Ali Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
10 Global Tongkat Ali Extract Market Outlook, By Pharmacies (2021-2030) ($MN)
11 Global Tongkat Ali Extract Market Outlook, By Application (2021-2030) ($MN)
12 Global Tongkat Ali Extract Market Outlook, By Beverages (2021-2030) ($MN)
13 Global Tongkat Ali Extract Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
14 Global Tongkat Ali Extract Market Outlook, By Cosmetics (2021-2030) ($MN)
15 Global Tongkat Ali Extract Market Outlook, By Neutraceuticals (2021-2030) ($MN)
16 Global Tongkat Ali Extract Market Outlook, By Other Applications (2021-2030) ($MN)
17 North America Tongkat Ali Extract Market Outlook, By Country (2021-2030) ($MN)
18 North America Tongkat Ali Extract Market Outlook, By Product Type (2021-2030) ($MN)
19 North America Tongkat Ali Extract Market Outlook, By Tablets (2021-2030) ($MN)
20 North America Tongkat Ali Extract Market Outlook, By Powder (2021-2030) ($MN)
21 North America Tongkat Ali Extract Market Outlook, By Capsules (2021-2030) ($MN)
22 North America Tongkat Ali Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
23 North America Tongkat Ali Extract Market Outlook, By Direct Sales (2021-2030) ($MN)
24 North America Tongkat Ali Extract Market Outlook, By Online Retail (2021-2030) ($MN)
25 North America Tongkat Ali Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
26 North America Tongkat Ali Extract Market Outlook, By Pharmacies (2021-2030) ($MN)
27 North America Tongkat Ali Extract Market Outlook, By Application (2021-2030) ($MN)
28 North America Tongkat Ali Extract Market Outlook, By Beverages (2021-2030) ($MN)
29 North America Tongkat Ali Extract Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
30 North America Tongkat Ali Extract Market Outlook, By Cosmetics (2021-2030) ($MN)
31 North America Tongkat Ali Extract Market Outlook, By Neutraceuticals (2021-2030) ($MN)
32 North America Tongkat Ali Extract Market Outlook, By Other Applications (2021-2030) ($MN)
33 Europe Tongkat Ali Extract Market Outlook, By Country (2021-2030) ($MN)
34 Europe Tongkat Ali Extract Market Outlook, By Product Type (2021-2030) ($MN)
35 Europe Tongkat Ali Extract Market Outlook, By Tablets (2021-2030) ($MN)
36 Europe Tongkat Ali Extract Market Outlook, By Powder (2021-2030) ($MN)
37 Europe Tongkat Ali Extract Market Outlook, By Capsules (2021-2030) ($MN)
38 Europe Tongkat Ali Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
39 Europe Tongkat Ali Extract Market Outlook, By Direct Sales (2021-2030) ($MN)
40 Europe Tongkat Ali Extract Market Outlook, By Online Retail (2021-2030) ($MN)
41 Europe Tongkat Ali Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
42 Europe Tongkat Ali Extract Market Outlook, By Pharmacies (2021-2030) ($MN)
43 Europe Tongkat Ali Extract Market Outlook, By Application (2021-2030) ($MN)
44 Europe Tongkat Ali Extract Market Outlook, By Beverages (2021-2030) ($MN)
45 Europe Tongkat Ali Extract Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
46 Europe Tongkat Ali Extract Market Outlook, By Cosmetics (2021-2030) ($MN)
47 Europe Tongkat Ali Extract Market Outlook, By Neutraceuticals (2021-2030) ($MN)
48 Europe Tongkat Ali Extract Market Outlook, By Other Applications (2021-2030) ($MN)
49 Asia Pacific Tongkat Ali Extract Market Outlook, By Country (2021-2030) ($MN)
50 Asia Pacific Tongkat Ali Extract Market Outlook, By Product Type (2021-2030) ($MN)
51 Asia Pacific Tongkat Ali Extract Market Outlook, By Tablets (2021-2030) ($MN)
52 Asia Pacific Tongkat Ali Extract Market Outlook, By Powder (2021-2030) ($MN)
53 Asia Pacific Tongkat Ali Extract Market Outlook, By Capsules (2021-2030) ($MN)
54 Asia Pacific Tongkat Ali Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
55 Asia Pacific Tongkat Ali Extract Market Outlook, By Direct Sales (2021-2030) ($MN)
56 Asia Pacific Tongkat Ali Extract Market Outlook, By Online Retail (2021-2030) ($MN)
57 Asia Pacific Tongkat Ali Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
58 Asia Pacific Tongkat Ali Extract Market Outlook, By Pharmacies (2021-2030) ($MN)
59 Asia Pacific Tongkat Ali Extract Market Outlook, By Application (2021-2030) ($MN)
60 Asia Pacific Tongkat Ali Extract Market Outlook, By Beverages (2021-2030) ($MN)
61 Asia Pacific Tongkat Ali Extract Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
62 Asia Pacific Tongkat Ali Extract Market Outlook, By Cosmetics (2021-2030) ($MN)
63 Asia Pacific Tongkat Ali Extract Market Outlook, By Neutraceuticals (2021-2030) ($MN)
64 Asia Pacific Tongkat Ali Extract Market Outlook, By Other Applications (2021-2030) ($MN)
65 South America Tongkat Ali Extract Market Outlook, By Country (2021-2030) ($MN)
66 South America Tongkat Ali Extract Market Outlook, By Product Type (2021-2030) ($MN)
67 South America Tongkat Ali Extract Market Outlook, By Tablets (2021-2030) ($MN)
68 South America Tongkat Ali Extract Market Outlook, By Powder (2021-2030) ($MN)
69 South America Tongkat Ali Extract Market Outlook, By Capsules (2021-2030) ($MN)
70 South America Tongkat Ali Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
71 South America Tongkat Ali Extract Market Outlook, By Direct Sales (2021-2030) ($MN)
72 South America Tongkat Ali Extract Market Outlook, By Online Retail (2021-2030) ($MN)
73 South America Tongkat Ali Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
74 South America Tongkat Ali Extract Market Outlook, By Pharmacies (2021-2030) ($MN)
75 South America Tongkat Ali Extract Market Outlook, By Application (2021-2030) ($MN)
76 South America Tongkat Ali Extract Market Outlook, By Beverages (2021-2030) ($MN)
77 South America Tongkat Ali Extract Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
78 South America Tongkat Ali Extract Market Outlook, By Cosmetics (2021-2030) ($MN)
79 South America Tongkat Ali Extract Market Outlook, By Neutraceuticals (2021-2030) ($MN)
80 South America Tongkat Ali Extract Market Outlook, By Other Applications (2021-2030) ($MN)
81 Middle East & Africa Tongkat Ali Extract Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Tongkat Ali Extract Market Outlook, By Product Type (2021-2030) ($MN)
83 Middle East & Africa Tongkat Ali Extract Market Outlook, By Tablets (2021-2030) ($MN)
84 Middle East & Africa Tongkat Ali Extract Market Outlook, By Powder (2021-2030) ($MN)
85 Middle East & Africa Tongkat Ali Extract Market Outlook, By Capsules (2021-2030) ($MN)
86 Middle East & Africa Tongkat Ali Extract Market Outlook, By Distribution Channel (2021-2030) ($MN)
87 Middle East & Africa Tongkat Ali Extract Market Outlook, By Direct Sales (2021-2030) ($MN)
88 Middle East & Africa Tongkat Ali Extract Market Outlook, By Online Retail (2021-2030) ($MN)
89 Middle East & Africa Tongkat Ali Extract Market Outlook, By Specialty Stores (2021-2030) ($MN)
90 Middle East & Africa Tongkat Ali Extract Market Outlook, By Pharmacies (2021-2030) ($MN)
91 Middle East & Africa Tongkat Ali Extract Market Outlook, By Application (2021-2030) ($MN)
92 Middle East & Africa Tongkat Ali Extract Market Outlook, By Beverages (2021-2030) ($MN)
93 Middle East & Africa Tongkat Ali Extract Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
94 Middle East & Africa Tongkat Ali Extract Market Outlook, By Cosmetics (2021-2030) ($MN)
95 Middle East & Africa Tongkat Ali Extract Market Outlook, By Neutraceuticals (2021-2030) ($MN)
96 Middle East & Africa Tongkat Ali Extract Market Outlook, By Other Applications (2021-2030) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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