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"The big four global F&F companies have benefited in part from the increased outsourcing of R&D [research and development] by global consumer products companies to F&F producers," Mark Astrachan from Stifel Nicolaus.The industry is an oligopoly of sorts, dominated primarily by a handful of large names.“In the next five to 10 years, the retail sector will go through dramatic growth,” says Wharton marketing professor John Zhang.A quarter of a billion people have migrated from the countryside to the cities in the last 25 years, and rising incomes are spurring an expanding middle class.INDIA'S POPULATION of 1.3 billion presents a massive potential for the hospitality industry.In 2015, India was the fastest growing economy among the BRICS countries.

what is consolidating and fragmenting in consumer tastes-54

This is forecast to rise to INR8,913.6 billion in 2016, and reach INR18,362.2 billion (7.2% of total GDP) in a decade’s time.Online platforms for budget accommodation such as Oravel Stays (OYO Rooms), Wud Stay, Zostel Hospitality (Zostel and Zo Rooms), Fab Hotels and Treebo have partnered with standalone hotels and guesthouses in order to provide them with marketing, distribution and quality assessments.These companies are raising venture funding and implementing ambitious plans for expansion.Similar to the giants of the accounting realm, the F&F sector is led by a "big four," which includes Givaudan, Firmenich, IFF, and Symrise.Collectively, the space's largest players comprise at least 70 percent of the market.