The discourse on reintroducing plastic taxes has resurfaced and is predicted to be implemented in 2024. This simultaneously opens the potential for increased prices of fast-moving consumer goods (FMCG) products, some of which use plastic packaging.

FMCG refers to consumer products that sell quickly and are frequently purchased by consumers over a short period of time, such as personal care items (soap, shampoo, toothpaste), food and beverages (nuggets, instant noodles, bottled water), and household cleaning products (detergent, floor cleaner, dish soap).

To address this, various innovations are being pursued, including the use of more environmentally friendly FMCG packaging. According to the Ellen MacArthur Foundation report, by 2050, there could be more plastic than fish in the oceans.

As a result, the FMCG industry is moving quickly to take significant steps to ensure plastic does not pollute the earth. One approach involves conversion actors, manufacturers, and retailers actively seeking ways to create environmentally friendly products and increasingly sustainable supply chains.

By doing so, the FMCG industry helps to realize a circular economy: an economic system aimed at eliminating waste and encouraging the sustainable use of resources.

Through a commitment to developing increasingly sustainable packaging solutions for consumer products and connecting circular supply chains, FMCG companies of all sizes can meet demand while keeping harmful materials away from the environment.

Thinking About Starting a Perfume Oil Business? Here’s How!

Perfume has become a staple for many people. A pleasant fragrance can boost confidence, making perfume a daily necessity for some. Both nationally and globally, people view perfume as an essential part of life.

According to a study by Kantar and Stanpa on Spanish citizens, 94.6% of people use perfume regularly, 61% consider perfume very important, and 54.7% use it daily. This research highlights the significance of perfume in people's lives. Additionally, Grand View Research reported that the global perfume market was valued at USD 50.85 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030.

However, nowadays, you don’t need to shop at stores selling branded perfumes to get a great fragrance. Instead, you can simply buy the perfume oils.

If you've visited a perfume shop in a mall or a roadside store selling unbranded perfumes in glass bottles, chances are it's a perfume oil business. Perfume oil is the pure essence or extract of various fragrances. It remains in its original form, without any added ingredients, including alcohol. For example, if you want a fruity scent, you would distill the extract from fruits.

Starting a perfume oil business can also be profitable because it’s affordable, the products are unbranded, the customers are typically from the middle to lower income brackets, the scents are diverse, and the buying frequency is high, although the profit margins are smaller.

Here are some tips to help you start a perfume oil business:

Prepare Business Capital

The first step is to prepare the capital for your perfume oil business. As mentioned, the initial investment isn’t too large, and you can benefit from a wide range of suppliers.

Research and Register as a Supplier of Perfume Oils

Find potential suppliers for your perfume oils. Make a list of potential suppliers and establish relationships with multiple vendors.

Prepare the Location

Set up a place or store to sell your perfume oils. You can start with a 4x4 meter space and design it as attractively as possible.

Promotion

To attract customers, promote your perfume oil business, possibly by offering discounts on the oils.

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