Symrise Nigeria has unveiled its newly upgraded application laboratories and identified the country as a pathway to growth in the region.
Symrise Nigeria based its decision on the fact that they consider Nigeria central to their growth and the launch pad to better value delivery to its consumers in the region.
Symrise disclosed this during the press conference and office opening event for clients held yesterday in Lagos. Speaking about the company’s activities in Nigeria, President, Symrise Europe, Africa, Middle East, Lilian Regnier said “Symrise Nigeria has operated in the country for over 30 years. We have invested in building, maintaining and running our operations in the country. Nigeria represents a pathway to growth for us in the Central, East and West African regions and we feel confident that the economic trajectory of the country will serve as a net positive to global manufacturers and organisations who believe in the country’s future.”
The size of the personal care segment in Nigeria covers an estimated $1billion market, with SMEs gaining an incremental market share as it accounts for over 94 per cent of businesses in the country.
On the opportunities the new application labs create for SME businesses in the country, vice president, EAME Scent, Care and Fragrance Division, Symrise, René Hemeier highlighted that, “the exit of multinational organisations creates an opportunity for local SMEs.”
He noted that Symrise Nigeria’s state-of-the-art application labs open numerous market opportunities for Nigeria’s manufacturing sector.
The vice president for Africa, Middle East, Turkey and Russia in the Taste, Nutrition & Health Division of Symrise, Sofiane Berrahmoune affirmed that, ‘this new facility enables us to serve the market, and also to understand the market better and to serve it more effectively.’
Key account manager, Symrise Nigeria, Iyabode Ogunwole added that, the company works with local partners for both blending and flavours to reach SMEs and develop the market, saying that the upgraded facility is strategically poised to cater to the diverse needs of the industry, offering tailored solutions that empower different sized manufacturers to thrive in a competitive market environment.
Looking ahead, Symrise Nigeria said that it is poised for sustained growth and expansion within Nigeria and the wider African market, adding that with a clear vision, Symrise Nigeria aims to continue pioneering innovation, driving value creation, and fostering mutually beneficial partnerships that propel the industry forward.
Symrise is a global supplier of fragrances, flavourings, cosmetic active ingredients and raw materials, as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.
Its sales of approximately €4.7 billion in the 2023 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented in more than 100 locations in Europe, Africa, the Middle East, Asia, the United States and Latin America.
