Symrise sees temporary slowdown in pet nutrition as pricing normalizes

For the first quarter of fiscal year (FY) 2026, Symrise’s Taste, Nutrition & Health segment, which includes its Pet Food Division, reported sales of €749 million ($810 million), down 3.9% year over year (YoY). However, organic sales increased by 1.7%.

While the company did not disclose specific figures for the pet food division, it says the segment achieved low single-digit organic sales growth, driven by low single-digit growth in its pet palatability business.

In addition, the German firm notes that pet nutrition recorded a slight organic decline, with positive volumes as pricing normalized. “[The segment] has been a strategic growth driver, and it will be a strategic growth driver. The situation we face is temporary,” CEO Jean-Yves Parisot says.

According to Parisot, the normalization is smaller than last year, when the company saw a sharp price decrease.

“For sure, the price today is negative, but small, low single-digit negative, and the volumes are up. We are back on track on nutrition also, and it should be totally normalized at the end of the year.”

Pet portfolio initiatives

During the quarter, Symrise opened a new pet food facility in Querétaro, Mexico, to support local customers and meet growing demand.

The group also made a strategic equity investment in Bond Pet Foods, a Colorado-based biotechnology company specializing in precision fermentation to produce animal-identical proteins.

The move aims to expand its pet nutrition offering, address industry challenges such as supply chain continuity and meet the rising demand for sustainable ingredient solutions, while scaling biotechnology across its business.

Group performance

Total group revenue for the period reached €1.3 billion ($1.4B), representing a 5.2% YoY decline, while organic growth declined by 0.4%.

According to the company, performance was supported by targeted pricing actions, solid commercial execution and improved organizational effectiveness.

By region, Europe, Africa and the Middle East (EAME) contributed the most at €505.3 million ($550M), followed by North America with €301 million ($325M), Asia Pacific with €268.2 million ($290M) and Latin America with €174.4 million ($190M).

Outlook

For the full year 2026, Symrise reaffirms its guidance, expecting sequential improvement in organic growth over the course of the year, supported by operational progress, strong customer engagement and resilience in core markets.

The group expects organic sales growth in the range of 2% to 4% and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin between 21.5% and 22.5%. Meanwhile, the adjusted business free cash flow margin is expected to exceed 14%.

The Holzminden-based company adds that the Middle East conflict is expected to remain manageable, while elevated input cost uncertainty – driven by freight and logistics inflation – is being addressed through pricing actions, customer focus and supply chain reliability initiatives.