Symrise reaffirms growth targets driven by pet segment performance
The firm’s pet portfolio recorded double-digit growth in Latin America and Europe, Africa, and the Middle East in the first 9 months of 2023.
Symrise’s Taste, Nutrition & Health segment—including pet—sales reached €2.26 billion ($2.38B) from January to September 2023, 4.1% more than in the same period in 2022.
In the first 9 months of 2022, the segment reached €2.17 billion ($2.29B) in revenue.
The pet food division achieved a single-digit percentage of organic growth. Latin America and EMEA (Europe, the Middle East and Africa) showed “significant” double-digit percentage growth in their pet business.
According to the company, sales development of pet food products was “dynamic” in France, Poland, Brazil, Colombia, and Mexico. France and Brazil are also home to Symrise’s latest production facilities.
Long-term growth
Based on the steady progress amid financially turbulent times, Symrise has confirmed its growth and profitability targets and has also extended its long-term growth objectives until 2028.
“We are targeting continued organic growth of 5–7%,” says Heinz-Juergen Bertram, Symrise’s CEO. For Bertram, the company’s diverse and international portfolio “will also help Symrise this year to capitalize on its growth potential and create sustainable value.”
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