Givaudan, Firmenich and IFF face fresh India antitrust probe
India’s Competition Commission is pursuing alleged price collusion among global fragrance suppliers. A report in the roughly two-year-old case was recalled after unredacted commercial information was shared, with a revised report pending.
What happened
CCI is pursuing a fresh alleged price-collusion case against Givaudan, Firmenich and IFF in India’s fragrance industry. A report was recalled over unredacted
Key facts
- Indian flavours and fragrances market projected to reach $5 billion by 2033
- Indian flavours and fragrances market estimated at $2.5 billion in 2024
- Alleged price-fixing since 2024
- CCI document dated July 22
- Investigation report shared in February
- Case underway for around two years
Why this matters
Strategic buyers should reassess exposure to India’s concentrated fragrance-supply market, where regulatory pressure could create partnership, localization or supplier-diversification opportunities.