Core Viewpoint - The company, Morning Light Bio (300138), is focusing on developing a tiered product strategy, with significant growth potential in its sweetener product, stevia, which has a larger market space compared to other products like chili red and chili extract [1] Group 1: Product Strategy - The company has identified several key products in its tiered strategy, including stevia, ginkgo leaf extract, sophora flower extract, inulin, and essential oils, aiming to establish them as major products in the market [1] - The market share of stevia has been steadily increasing, indicating a growing revenue stream for the company [1] - The company is leveraging its technological advantages to enhance industry efficiency and promote overall industry development, even for products with currently smaller market sizes [1] Group 2: Long-term Goals - The long-term objective of the company is to transform its tiered products into new major products, suggesting a larger growth potential compared to its main products [1]

内容概要：随着国民健康意识的不断提高，消费者对健康食品和功能性原料的需求日益增加，菊粉具有 膳食纤维和益生元的双重营养功能，对控制血脂、降低血糖、改善肠道健康等有显著效果，契合了消费 者对健康的追求，因此，近年来在健康食品、保健品等领域的需求持续攀升，据统计，2024年我国菊粉 需求量达1.82万吨，市场规模达4.5亿元，而同年产量仅1.65万吨，因此，每年仍需大量进口。 上市企业：晨光生物（300138） 相关企业：河北维乐夫农业科技有限公司、武汉英纽林生物科技有限公司、美泰科技（青岛）股份有限 公司、青海瑞湖生物资源开发有限公司、重庆骄王天然产物股份有限公司、青海威德生物技术有限公 司、山东益得来生物科技有限公司、内蒙古维你好生物科技有限公司、辽宁启康生物科技有限公司 关键词：菊粉发展历程、菊粉产业链、菊粉需求量、菊粉市场规模、菊粉竞争格局、菊粉发展趋势 一、概述 菊粉（Inulin）是一种天然存在的水溶性膳食纤维，属于果聚糖家族，其化学结构由多个D-呋喃果糖单 元通过β-2,1糖苷键连接而成，末端通常带有一个葡萄糖单元。它广泛存在于菊科植物（如菊苣、菊 芋）、天门冬科（如芦笋）等天然植物中，是植物储存能 ...

Core Insights - The strategic cooperation for "产研融合加速 赋能肠道健康" was launched in Beijing, involving the brand "轻又清," BioNeutra, 惠买集团, and Qingdao Agricultural University, aiming to enhance the international development of the prebiotic industry in China [1][14] - The event highlighted the growing concern over gut health issues, which have become significant due to dietary imbalances, and emphasized the importance of prebiotics like inulin for gut function recovery [3][9] - The prebiotic market is experiencing rapid growth, with the Chinese prebiotic market currently valued at 150 billion, growing at an annual rate of 10% [13] Company and Industry Developments - "轻又清" has received strategic investment from BioNeutra and 惠买集团, with a valuation in the tens of millions, indicating strong market confidence [1] - 惠买集团 plans to open 10,000 health supermarkets nationwide within two years, aiming to enhance its offline customer acquisition channels [9] - The collaboration between "轻又清," BioNeutra, 惠买集团, and Qingdao Agricultural University is expected to inject strong momentum into the prebiotic industry, enhancing product innovation and market competitiveness [20] - Investment institutions like 深创投 and 中信建投 are optimistic about the prebiotic sector, viewing it as a necessary investment option for the future [11][13]