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15 Profitable Projects that Became Million-Dollar Startup

Monday, February 4, 2019

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Becoming an entrepreneur easier than ever before—technology is shrinking the world, opening markets, and making it possible for many people to strike out on their own in the field of their dreams. An entrepreneur who starts his own business can break free from this actuarial perspective and redefine the value he brings to the market.

Whether you view starting a business as an economic necessity or a way to make some additional income, you might find it generates a new source of income. The main reason for starting a business should be giving something to society.

This section is specially written for just exploring the big number of business ideas that you refer before starting a business.

 

Take a look at the following 15 Most Profitable Businesses:

Steel Safety Pins

The safety pin is a variation of the regular pin which includes a simple spring mechanism and a clasp. The clasp serves two purposes: to form a closed loop thereby properly fastening the pin to whatever it is applied to, and to cover the end of the pin to protect the user from the sharp point.

Safety pins are commonly used to fasten pieces of fabric or clothing together. Safety pins, or more usually a special version with an extra safe cover, called a nappy pin, or loincloth pin, are widely used to fasten cloth diapers (nappies), or modern loincloths, as the safety clasp, while remaining ingestion hazard, prevents the baby or boy from being jabbed.

Ferric Oxide

Iron (III) oxide or ferric oxide is the inorganic compound with the formula Fe2O3. It is one of the three main oxides of iron, the other two being iron (II) oxide (FeO), which is rare, and iron (II, III) oxide (Fe3O4), which also occurs naturally as the mineral magnetite. As the mineral known as hematite, Fe2O3 is the main source of iron for the steel industry. Fe2O3 is readily attacked by acids. Iron (III) oxide is often called rust, and to some extent this label is useful, because rust shares several properties and has a similar composition.

Ferric oxide is one of the oxides of iron. It is also known as iron (III) oxide and its chemical formula is Fe2O3. It is an inorganic compound. The other two oxides of iron are iron (II) oxide having the chemical formula FeO and iron (II, III) oxide having the chemical formula Fe3O4.

Iron oxides are commonly available chemical compounds composed of iron (Fe) and oxides and are mainly used in the form of iron ores, pigments, catalysts, etc.  Iron oxides are produced from both natural and synthetic resources. Natural iron oxides are mainly derived from (1) hematite (Fe2O3), a red iron oxide mineral, (2) limonites (FeOOH), which in colour vary from yellow to brown, such as ochers, siennas and umbers, and (3) magnetite (Fe3O4), a black iron oxide.

Iron oxide pigments are durable colored pigments used in various applications such as constructions, industrial coatings, varnishes, paper, fertilizers, and plastics. These are nontoxic inorganic pigments composed of iron oxides and oxyhydroxides with relatively economical prices. Iron oxide pigments are of two types namely synthetic or natural. The basic property that differentiates synthetic iron oxide pigments from the natural is the purity level, which is lower in natural iron oxide pigments. The level of contamination defines the working efficiency of these pigments.

Aluminium Hydroxide Gel

Aluminium hydroxide is a typical antacid active. It can be used alone or in combination with magnesium hydroxide to obtain the desired acid neutralizing capacity (ANC). Aluminium hydroxide as an antacid is not exactly an Aluminium hydroxide (Al (OH)3). Aluminium hydroxide gels are amorphous in nature and contain carbonate in the gel structure. The presence of carbonate increases the reactivity of the Aluminium, allowing for its acid-neutralizing capacity and making it a more effective antacid.

Aluminium hydroxide gels and powders are available worldwide and provides the consistent quality required for pharmaceutical use.

Aluminium hydroxide, Al (OH) 3, is found in nature as the mineral gibbsite (also known as hydrargillite) and its three much rarer polymorphs: bayerite, doyleite, and nordstrandite. Aluminium hydroxide is amphoteric in nature, i.e., it has both basic and acidic properties. Closely related are aluminium oxide hydroxide, AlO (OH), and aluminium oxide or alumina (Al2O3), the latter of which is also amphoteric. These compounds together are the major components of the aluminium ore bauxite.

Aluminum hydroxide is used to treat heartburn, upset stomach, sour stomach, or acid indigestion. Aluminum hydroxide is also used to reduce phosphate levels in people with certain kidney conditions. Aluminum hydroxide may also be used for purposes not listed in this medication guide.

The global aluminum hydroxide market is expected to witness a CAGR of approximately 4.6% during the forecasted period. Aluminum hydroxides find application as fire retardants in polymer applications, as these compounds address the need for safety, durability, and insulation in many applications.

Aluminium hydroxide (Gel) I.P. is used as an antacid and protective in the treatment of peptic ulcers. It is also used as astringent & antiseptic in cases of marked hyper acidity. It is used externally as a mild astringent and desiccant, and internally as an antacid and protective agent. Aluminium hydroxide is generally used in combination with other similar chemicals like Magnesium hydroxide & Magnesium trisilicate in the form of powder or paste, depending upon the final product i.e. tablet or suspension.

Global Aluminum Hydroxide Gel Market is expected to gain a positive CAGR in the forthcoming period. Aluminum hydroxide gel is a naturally occurring mineral comprising three layers namely polymorphs, bayerite, doyleite & nordstrandite. Aluminum hydroxide gel is also known as gibbsite. Gibbsite possess a typical metal hydroxide structure comprised with hydrogen bombs.

Jaggery (Gur) from Sugar Cane (Export Quality)

Gur (jaggery) is a natural product of sugarcane. It is in more unrefined form than sugar. It is a brown raw mass of sucrose which gets it color because of other elements found in concentration such as wood ash and bagasse.

Jaggery or "Gur" or whole sugar is a pure, wholesome, traditional, unrefined, whole sugar. It contains the natural goodness of minerals and vitamins inherently present in sugarcane juice & this crowns it as one of the most wholesome and healthy sugars in the world.

Gur plants are located in rural areas of Sugarcane leading zones of Uttar Pradesh and Tamil Nadu mainly. It is an unorganized industry. This is a second major rural industry in north U.P. region and has good employment opportunities also. Gur making process is simple and cheap as compared to sugar.

The annual market demand for non-refined sugar i.e. Gur is about 5Lakh MT/ year in India. The demand for this product is about 2 Lakh MT each at two major market cities of Mumbai and Ahmedabad. About 80% of demand at Mumbai is net from three wholesale markets at Pune, Sangali and Kolhapur which receive the product from adjoining villages in Maharashtra, North Karnataka. This demand is ever increasing in last 5 years.

Herbs Cultivation & Processing

In general use, herbs are plants with savory or aromatic properties that are used for flavoring and garnishing food, medicinal purposes, or for fragrances; excluding vegetables and other plants consumed for macronutrients. Culinary use typically distinguishes herbs from spices. Herbs generally refers to the leafy green or flowering parts of a plant (either fresh or dried), while spices are usually dried and produced from other parts of the plant, including seeds, bark, roots and fruits.

Herbs have long been revered for both their medicinal and culinary value. They may cure colds, help you sleep and add flavor and zest to dinner. Fortunately for home gardeners, growing herbs is relatively easy. They thrive in just about any type of soil, do not require much fertilizer, and are not often bothered by insect or disease pests.

Nowadays, a demanding work culture and busy lifestyles have forced consumers to opt for ready-to-eat meals or other ready-to-eat food items. Dried herbs allow customers to enjoy tasty and flavorful foods that consume less time for preparation. The increasing demand for processed foods such as snacks, pickles, beverages, and others has resulted in the rising demand for dried herbs that are used to enhance the flavor of these products.

Dried herbs are readily available through various retail formats. This ease of access drives consumers toward using dried herbs even more. Dried herbs are small and easy to carry; the use of convenience packaging for dried herbs is also known to increase the demand among consumers. Consumers also are becoming readily open to international cuisines, flavors, and ingredients, which is influencing their eating habits in a big way. The strong influence from various cuisines and cultures is also resulting in the growth of the exotic dried herbs sector.

Global Herbal Medicine Market

Asia Pacific countries such as China followed by India accounts for the maximum market share due to its tradition of using the herbal system. Europe is the second largest market due to large disposable income and growing demand for natural therapies and remedies. The European market will be led by France followed by Germany. Asia pacific region will be the fastest region because of which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.

Global Herbal Medicine Market – Key Players:

Himalaya Drug Company (India), Schwabe (Germany), Madaus (Spain), Arkopharman (France), Blackmores (Australia), Tsumura (Japan), Sheng Chang Pharmaceutical Company (Taiwan), Ricola AG (Switzerland), Zandu Pharmaceutical Works Ltd (India), Hamdard laboratories (India), Dabur (India), Patanjali Ayurved Ltd (India) China Herbs Company (U.S.), Nutraceutical International Corporation (U.S.), are some of the prominent players.

Fish Canning in Tins & Pouches

Canned fish are fish which have been processed, sealed in an airtight container such as a sealed tin can, and subjected to heat. Canning is a method of preserving food, and provides a typical shelf life ranging from one to five years. Fish have low acidity, levels at which microbes can flourish. From a public safety point of view, foods with low acidity (pH greater than 4.6) need sterilization under high temperature (116–130°C). To achieve temperatures above the boiling point requires pressurized cooking.

An estimated 2.3 percent hike in global fish production combined with good market conditions around the world gave a significant boost to trade revenues in the first nine months of 2017. Aquaculture continues to increase its contribution to the world’s seafood supply, growing at a steady rate of about 4.5 percent to reach a total harvest of 83.6 million tonnes in 2017. Capture fisheries productions remain stable at some 90.4 million tonnes.

The global canned seafood market size was estimated at USD 21.50 Billion. Increasing popularity of ready-to-eat seafood products due to improvement in distribution infrastructure is anticipated to drive the industry growth. In addition, factors such as changing life styles coupled with increasing affordability are likely to drive the industry growth over the next eight years.

Demand for the product is likely to rise due to increased product consumption owing to health benefits coupled with the adoption of sustainable fish farming techniques adopted by the manufacturers. In addition, advantages offered by this product including extended shelf life, ease in cooking, are anticipated to drive growth.

Asparagus Cultivation & Processing

Asparagus, or garden asparagus, folk name sparrow grass, scientific name Asparagus officinalis, is a spring vegetable, a flowering perennial plant species in the genus Asparagus. It was once classified in the lily family, like the related Allium species, onions and garlic, but the Liliaceae have been split and the onion-like plants are now in the family Amaryllidaceae and asparagus in the Asparagaceae. Sources differ as to the native range of Asparagus officinalis, but generally include most of Europe and western temperate Asia. It is widely cultivated as a vegetable crop.

Asparagus is a vegetable that comes from the Asparagaceae family. There are more than 200 species within that plant family. Some species are grown as ornamental plants and others are used by florists in arrangements and corsages.

Asparagus is one of the most nutritionally balanced plant-derived foods. Low in fat, cholesterol, and sodium, asparagus also has vitamin A (also known as retinol because it produces pigments in the retina), E (has strong antioxidant properties, meaning it reduces oxidative damage caused by oxygen, which can harm human tissue, cells, and organs), and K (which helps your blood clot), magnesium, zinc and selenium, as well as fiber, thiamin, riboflavin, niacin, vitamin B6, iron, copper, and manganese.

The global asparagus market is rising every year because of the high demand for organic asparagus. Asparagus growers are striving to increase the yield they can obtain and this can largely be attributed to the thriving global asparagus export market.

There is a rising demand for organic asparagus in the global asparagus market as well. The number of organic growers in the global asparagus market is rising every year. Asparagus growers are striving to increase the yields.

Perfumery Chemicals (Synthetic & Natural)

Perfume is a mixture of fragrant essential oils or aroma compounds, fixatives and solvents, used to give the human body, animals, food, objects, and living-spaces an agreeable scent. It is usually in liquid form and used to give a pleasant scent to a person's body. Ancient texts and archaeological excavations show the use of perfumes in some of the earliest human civilizations. Modern perfumery began in the late 19th century with the commercial synthesis of aroma compounds such as vanillin or coumarin, which allowed for the composition of perfumes with, smells previously unattainable solely from natural aromatics alone.

Aroma chemicals, also known as fragrances and odorants are chemical compounds which consist of odor or smell. These compounds are volatile enough to travel through the olfactory system of the nose and cause odor. Unlike flavors which affect smell and taste, fragrances affect only smell. The nature of fragrances tends to be synthetic. Aroma chemicals can be found in food, wine, spices, essential oils, perfumes and fragrance oils.

The Global Aroma Chemicals Market is accounted for $4.08 billion in 2016 and expected to grow at a CAGR of 6.8% to reach $6.48 billion by 2023. Factors like change in consumer preferences, healthy and green sustainability package among the consumers and growth in end user markets are boosting the market growth. High R&D cost and compliance with quality and regulatory standards will impede the market growth.

Global market for aroma chemicals is expected to grow considerably owing to growing markets in Asia and South America. Growing demand for foods, cosmetics, personal care and household care products is expected to be the major driving factor for the growth of aroma chemicals market.

Switch Mode Power Supply (SMPS)

A switched-mode power supply (switching-mode power supply, switch-mode power supply, switched power supply, SMPS, or switcher) is an electronic power supply that incorporates a switching regulator to convert electrical power efficiently. Like other power supplies, an SMPS transfers power from a DC or AC source (often mains power) to DC loads, such as a personal computer, while converting voltage and current characteristics.

A switch mode power supply is a power converter that utilizes switching devices such as MOSFETs that continuously turn on and off at high frequency; and energy storage devices such as the capacitors and inductors to supply power during the non-conduction state of the switching device. The supplies have higher efficiencies of up to 90%, are small in size and widely used in computers and other sensitive electronic equipment.

Power supply circuit plays an essential role in every electrical and electronic circuit to provide the electrical power to the owl circuit or loads like machines, computers, etc. These different loads require different forms of power at various ranges and characteristics. So, the power is converted into the desired form by using different power converters. Basically, different loads work with various types of power supplies like SMPS (switch mode power supply), AC power supply, AC to DC power supply, programmable power supply, high voltage power supply & uninterruptable power supply.

Geographically, North America dominated switching power supply market due to higher usage and consumption of battery operated devices requiring switching power supply. North America was followed by Europe and Asia-Pacific as the second and third largest consumer of switching power supply. Asia Pacific is projected to have the fastest growth, owing to rapidly expanding customer base for the battery operated devices, especially in the major regional economies such as India and China in the region

The overall power supply market is expected to grow from USD 25.00 billion in 2017 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Power supplies are being used in many verticals such as lighting, telecommunications, consumer electronics, medical & healthcare, industrial, food & beverages, transportation, and military & aerospace.

LPG Cylinder Regulators (Domestic Purpose)

Gas regulators automatically modulate high pressure gas to a maximum pre-determined limit. LPG (propane) gas regulators reduce the LPG pressure delivered to the gas appliances from the gas bottles. The pressure within a gas bottle can be 800-900kPa vs the 2.75kPa typically required. LPG gas regulators are usually factory pre-set to the standard operating pressure for the appliances.

The main purpose of an LPG gas regulator is to reduce gas bottle pressures which can be around 800-900kpa depending on the temperature down to a safe working pressure and have the ability to maintain the accepted pressure. Different regulators are used depending on the location along the gas pipeline; however the main reason is to be able to deliver a safe working pressure for the appliance to run correctly and efficiently.

LPG consumption in India is forecast to surpass 35 MMT by FY26. North region dominated India LPG market over the past few years, and is further forecast to continue dominating the market through FY26.

Liquefied petroleum gas (LPG) is a flammable mixture of various hydrocarbons, and majorly consists of propane and butane. LPG gas is colorless and odorless; and emits less quantity of CO2 when compared to petrol or diesel. Thus, LPG is extensively used as a cooking fuel, both in commercial and residential setups throughout the country.

Application of LPG in the industrial sector is also increasing, owing to growing use of LPG as a feedstock in petrochemical plants in the country. Moreover, rising demand from transport segment and increasing consumption of LPG to produce various chemical components such as propylene, ethylene, butadiene, etc., is further anticipated to boost demand for LPG in the country in the coming years. Furthermore, increasing prices of naptha, rising LPG imports and expanding distribution network are anticipated to fuel consumption of LPG in India during FY17-FY26.

Herbal Extraction

Herbal extracts are substances extracted from the plant using different solvents—some combination of water, alcohol, chemicals, or other liquid that works to draw out beneficial plant components.

Although herbal extracts come in many forms, they have one common feature. Extracts represent naturally occurring phytochemicals (plant produced compounds) that have been removed from the inert structural material of the plant that produced them. The main advantage of using extracts over raw herb is that once extracted from the plant matrix, the phytochemicals bypass the need for digestion and are far more readily absorbable.

India herbal extracts market has recorded phenomenal growth over the years with rising awareness among the people about the health benefits of consuming herbal products. Herbal extract market in India increased to INR ~ crore in FY’2017 from INR ~ crore in FY’2012, at a robust CAGR of ~% during the same period.

Global herbal extracts market has been growing at a continuous pace because of its various health benefits and increasing awareness about side effects from using chemical based products. Even at the times of recession the demand of herbal products is not much affected as people desire to maintain their health when the treatments are costlier. Herbal extracts are substances which are obtained by crushing, distilling, comminuting, and juicing various herbs. The processes are designed to maximum the potency of a particular herb. The global herbal extracts market is predicted to exhibit a 7.52% CAGR from 2018 to 2023.

The herbal plants with several medicinal properties are used to treat a variety of disease conditions. Furthermore, a single plant may contain many chemical constituents such as phenols, glycosides, polysaccharides, alkaloids, resins, and terpenoids which demonstrate therapeutic activities in more than one medical conditions.

Hydraulic and Pneumatic Items

Hydraulic

Hydraulics is a technology and applied science using engineering, chemistry, and other sciences involving the mechanical properties and use of liquids. At a very basic level, hydraulics is the liquid counterpart of pneumatics, which concerns gases. Fluid mechanics provides the theoretical foundation for hydraulics, which focuses on the applied engineering using the properties of fluids. In its fluid power applications, hydraulics is used for the generation, control, and transmission of power by the use of pressurized liquids.

On the basis of base oil, the hydraulic fluid market has been segmented into mineral oil, synthetic oil (PAO, PAG, Esters, and Group IV), semi-synthetic oil, and bio-based oil. The mineral oil segment is projected to lead the hydraulic fluid market during the forecast period due to its easy availability and low cost.

Hydraulics is a technology involving the mechanical properties, which operates through the force of liquid pressure. In a Hydraulic system, Hydraulic Fluid is used as an energy transfer medium. It is also useful in other applications such as heat transfer, sealing, contamination removal, corrosion resistance, and lubrication. This industry’s future growth path is determined by high demand in oil & gas, automobile, marine¸ aircraft, industrial machinery, construction, and others industries. Global Hydraulic Fluid Market is expected to witness a significant growth of USD 4,317.10 million by 2023, with CAGR of 2.57% during forecasted period.

Pneumatics Items

Pneumatics is a branch of engineering that makes use of gas or pressurized air. Pneumatic systems used in industry are commonly powered by compressed air or compressed inert gases. A centrally located and electrically powered compressor powers cylinders, air motors, and other pneumatic devices. A pneumatic system controlled through manual or automatic solenoid valves is selected when it provides a lower cost, more flexible, or safer alternative to electric motors and actuators.

Pneumatics is the technology of compressed air, but in some circles, it is more fashionable to refer to it as a type of automation control. Pressurized gas—generally air that may be either of the dry or lubricated type—is used to actuate an end effector and do work. End effectors can range from the common cylinder to more application-specific devices such as grippers or air springs. Vacuum systems, also in the pneumatic realm, use vacuum generators and cups to handle delicate operations, such as lifting and moving large sheets of glass or delicate objects such as eggs.

The global pneumatic equipment market will grow moderately during the forecast period and post a CAGR of almost 5% by 2020. In addition to their applications in several industries, pneumatic tools are gradually acquiring significant application in food processing and medical applications as well.

Jute Batching Oil (JBO)

Jute batching oil (JBO-P), a mineral oil fraction used in the processing of jute fibers. JBO is mainly used as Jute Batching Oil in the jute industry to make the jute fibers pliable. JBO is also used by processors to produce various industrial oils.

Jute materials are used in packaging of food material, presence of heavier Oil (which may contain carcinogenic compounds) are not desirable. JBO is also used as Wash Oil by the Steel Plants for recovering aromatic products from the coke oven gas.

Metal Polish Soap

Metal Polishing Soap can be used for final polishing in all Aluminium and Stainless steel products.

Metal polishing compounds are ideal for high quality polishing on stainless steel, aluminium and other non-ferrous metals. However, our metal polishing compounds are extremely effective on carbon, steel, chrome and plastics.

There are several different types of metal polish in the huge world of automotive detailing. Apart from the polish for paintwork there is also polish specifically for metal. These are mostly used for chrome bumpers, chrome trims, metal hubcaps, untreated metal wheels, exhausts and even engine parts.

Metal polishing cleans, brightens, and restores solid or plated items made of gold, silver, stainless steel, brass, copper, aluminum, nickel, chrome, or other metals and alloys. Achieving a smooth and shiny finish requires tools like fixed, tabletop, or hand-held grinders, polishers and buffers. Solvents, acids, and various abrasive materials are used to degrease, clean, buff, and polish metals.

The global metal finishing equipment market is growing, due to increasing need for wear resistant, durable and long lasting metal products, up surging demand from developing countries, and growth of automotive and steel industries. The growth of environment friendly electro less plating and consumers’ shift from traditional solvent borne technologies to newer technologies, are providing ample opportunities for the growth of the global metal finishing equipment market in the coming years. Asia-Pacific dominates the global metal finishing equipment market, due to growing steel and automobile industries in the developing countries of the region.

Solar Cooker

Solar cooker is a device which uses the energy of direct sunlight to heat, cook or pasteurize drink and other food materials. Many solar cookers currently in use are relatively inexpensive, low-tech devices, although some are as powerful or as expensive as traditional stoves, and advanced, large-scale solar cookers can cook for hundreds of people. Because they use no fuel and cost nothing to operate, many nonprofit organizations are promoting their use worldwide in order to help reduce fuel costs (especially where monetary reciprocity is low) and air pollution, and to slow down the deforestation and desertification caused by gathering firewood for cooking.

Solar cookers are the application of solar energy used to cook, bake, and fry food. Solar Cookers can also be used for pasteurization. Solar cooker converts the radiant energy to the heat energy which is used for cooking food. Growing awareness for the use of renewable energy along with escalating prices of non-renewable energy drives the solar cooker market. Government support and funding for the use of solar energy also stimulates the growth of solar cooker market.

The solar cooker market can be segmented on the basis of the construction techniques utilized for manufacturing. The broad segmentations on the basis of construction can be done as solar box cooker, solar panel cooker and solar parabolic cooker. The solar box cookers are the most commonly available form of solar cookers in the market currently. These cookers are extremely robust in nature and operate very safely with little or no supervision required for operating.

 

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