Naturally-occurring compounds have been, and continue to be, an important source of new leads and of commercially successful products for various industrial sectors, notably pharmaceuticals and agrochemicals. The last decade has, however, seen many challenges as well as new opportunities for the industrial utilization of molecules from natural sources, including the birth of 'nutraceuticals' and 'cosmeceuticals'. This book is the proceedings of a third successful conference held at Magdalen College, Oxford in July 2009 and highlights current trends, challenges and successes in the exploitation of natural products.