Circular Economy in FMCG
Implementing business practices that support a circular economy, where products and materials are reused, recycled, or regenerated, reducing waste and environmental impact.
Implications
The application of circular economy principles in the fast-moving consumer goods (FMCG) sector, focusing on reducing waste, optimizing resource use, and promoting recycling and reuse across the product lifecycle, from production to consumption.
Example
Example: An FMCG company implements a circular economy approach by designing its packaging to be fully recyclable and launching a refill program for its cleaning products, reducing plastic waste and encouraging repeat purchases.
Related Terms
Different from traditional FMCG practices, which often focus on high-volume production and consumption, circular economy approaches emphasize sustainability and minimizing environmental impact.
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