Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.
Symrie has announced that the Department of Justice of the United States of America ("DoJ") is closing its investigation against the company.
The fragrance and flavouring supplier said that no unlawful anti-competitive conduct on the part of Symrise had been established.
The DoJ's investigation has been part of a broader probe into potential anti-competitive practices within the sector.
Symrise, along with industry peers Givaudan, Firmenich (which has since merged with DSM) and International Flavors & Fragrances, had come under investigation by competition authorities in 2023 due to suspicions of anti-competitive agreements.
Authorities indicated that the companies had potentially coordinated price increases, allocated markets and limited the sale of certain fragrances and ingredients.
Though Symrise has been cleared by the DoJ, the wider investigation has had consequences for others.
In October last year, International Flavors & Fragrances agreed to pay $26m to settle parts of the case, according to Reuters.
Symrise has said that it welcomes the decision by the DoJ and has "always maintained that it did not participate in any unlawful agreements with competitors in the fragrance business."
"Symrise has argued strongly from the outset that it should never have been part of this investigation and that the actions taken by the authorities were not justified."
"The company remains committed to ethical business practices and regulatory compliance and looks forward to similar investigations by other authorities against Symrise also being discontinued soon."