But the news from the industry’s flavor and fragrance corner is different. At two leading players—Givaudan and Symrise—both sales and earnings were up, and sales fell only modestly at International Flavors & Fragrances. It turns out that demand for the consumer products their ingredients go into has held up during the pandemic—and in many cases has even grown.

— Don't forget this does not necessarily relate to perfume sales; these companies fragrance and flavor just about anything with a smell or a taste, including all those bleach wipes and hand sanitizers. Read more in Flavor and fragrance firms dodge pandemic sales blow at Chemical & Engineering News.