Terpenoids represent the oldest known biomolecules, having been recovered from sediments as old as 2.5 billion years. Among plant secondary metabolites, they are the most abundant and diverse class of natural compounds. The diversity of terpenoids is probably a reflection of their many biological activities in nature, which has made them a widely used resource for traditional and modern human exploitation. They are usually the main constituents of essential oils of most plants offering a wide variety of pleasant scents from flowery to fruity, to woody or balsamic notes. For this reason terpenoids constitute a very important class of compounds for flavour and fragrance industries, in fact, in the US alone, the demand is forecast to grow 3.7 percent per year to $5.3 billion in 2012. The recent patents on production and extraction of terpenoids commonly used as natural flavouring compounds in food industries are reviewed in the present manuscript.