In California, biotech-enabled fragrance startup Sensegen has announced a strategic collaboration with flavor and fragrance giant Takasago. The pact will leverage Sensegen’s recent advances in developing natural musk raw materials. The two companies hope to move the perfume industry beyond synthetic petroleum-based fragrances and traditional extracts.
“Takasago’s rich fragrance expertise, combined with Sensegen’s innovative biotech solutions, heralds a new era for perfumery,” Takasago’s Global Fragrance Division President Paul Ireland said in a press statement.
Citing data from Reportlinker.com, Sensegen said the natural fragrance market is expected to grow 12.7% annually through 2030, reaching $8.5 billion.