Fragrance, flavour industry to touch over $5 bn in 3-4 years: Industry body

The fragrance and flavour industry of the country is likely to grow around 12 per cent each year and touch over USD 5.2 billion in three to four years , an apex body of the industry said.

This growth will be driven by factors like rising disposable incomes and changing consumer preferences, Fragrances and Flavours Association of India (FAFAI) president, Risabh Kothari, said.

"The fragrance and flavour industry is growing very fast in the country. The present size of the industry is USD 3.7 billion in the country, Kothari said.

The major user industries of this segment are food and beverages, personal care, homecare, pharmaceuticals and cosmetics, and these include major MNCs, domestic companies and small businesses, the FAFAI president said.

Given the growing demand for natural and organic products, consumers are increasingly opting for them which present an opportunity for the fragrances and flavours industry, he stated.

Coupled with this, consumers are willing to spend more on