After you evolve your Alchemy trophy to Mundunugu Medicine Stick... summon the artisan satchel and give it to Jolum in the bazaar.
<Receive Artisan Essence>
Jolum says 'Take this essence and put it in the appropriate container, and it will change into a new bag. Do this before your trophy evolves because this essence is delicate and will only respond if you own the appropriate trophy.'
Combine the Artisan Essence in an Oven
<Receive Mundunugu Carry-All>
<Receive Mundunugu Component Bag>
The Mundunugu component bag is able to hold component items only.