Further, growing investment in research for the formulation of fragrance compounds from natural origin is likely to drive the growth of the overall sector. By Application Investments into the Flavors & Fragrances Industry: Now and in the Future Firmenich has been working on the development of new innovative natural fragrances; Givaudan is now acquiring Myrissi to improve its AI-driven fragrance technologies. On the same token, International Flavors & Fragrances has invested heavily in new flavor solution development to capture rising demand from the large and fast-growing plant-based segment.