The Value of Fragrance – a study conducted by professional services firm PwC on behalf of The International Fragrance Association (IFRA) – shows that the manufacturing of fragrance ingredients alone adds €7,2bn to the economy and is responsible for between €48bn and €72bn in Value Added for 25 consumer product categories. According to the report, the fragrance industry generates sales worth €7,3bn in 2017, contributing to €357bn in global sales generated by consumer product manufacturing and retailing.