Change is perhaps the only constant, and nowhere is this rule more evident than in the flavor and fragrance industry. As the rate of mergers, acquisitions, expansions and new business launches appears to be ratcheting up, the companies in Perfumer & Flavorist’s 2002 Industry Top 10 are in a seeming state of perpetual evolution. This year, we see a great rise in the number of e-business expansions and consolidation. Will this theme continue? That remains to be seen.