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Follow on Google News |  Russian Foodservice: The Future of Foodservice in Russia to 2016 - New Study ReleasedNew Food market report from Canadean: "Russian Foodservice: The Future of Foodservice in Russia to 2016"
By: Fast Market Research, Inc. Introduction and Landscape Why was the report written? This report is the result of Canadean's extensive market and company research covering the Russian foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, and Russia's business environment and landscape."Russian Foodservice: ------------------------------------------------------------ Full Report Details at - http://www.fastmr.com/ ------------------------------------------------------------ What is the current market landscape and what is changing? In spite of the global economic crisis, the Russian foodservice industry has been growing steadily. Strong global oil prices, service industry growth and reformations in immigration policies have enormously supported the expansion of the Russian foodservice industry. What are the key drivers behind recent market changes? Changes in household structure and the increase in employment are creating a shift towards fast food. Additionally, growing health awareness and obesity concerns are helping to develop healthier and more nutritious eating habits. What makes this report unique and essential to read? "Russian Foodservice: Key Features and Benefits This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within Russia. This report provides readers with in-depth data on the valuation and development of both the profit and cost sectors in the Russian foodservice market. This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet, and transactions per outlet per week, across nearly 50 sub-channels. This report provides highly granular future forecasts and historic market data to aid market and strategic planning. This report will help you to assess the impact of economic recession and recovery on foodservice market growth. Key Market Issues A decade of stable political environment and steady economic growth has created a new middle class in Russia which is eager to spend. Although wages have stagnated, the government's efforts in preventing major job losses have maintained disposable incomes, which in turn have strengthened the sales of foodservices. Russia's services industry's contribution was a significant 67.8% of GDP in 2009. Growth in the IT and engineering services has been particularly outstanding with software exports growing to US$2.8 billion in 2009. The entry into the WTO is expected to boost the growth of intellectual property driven services such as aerospace, software, and information and communication technologies. This industry growth has led to an increase in the number of single young professionals who prefer to eat out in quick service restaurants. Urbanization in Russia has been stagnating since the last decade and has even shown signs of reversal, falling from 74% in 2000 to 73% in 2005. It is further expected to decline to 72.7% during the forecast period. This has led to an increased consumption of convenience foods and the expansion of fast-food chains across all the major cities. Russian consumers have been quite slow to adopt information technology, but they are evolving rapidly to catch up with the rest of Europe. Personal computer penetration has increased from 12.2 PCs per 100 people in 2005 to 19 PCs per 100 people in 2010. The new wave of international restaurant chains has introduced websites with elaborate online menus such as McDonald's, which has an online menu and items can be ordered through the website. Russian consumers have been extremely reluctant to conduct online shopping due to factors such as low penetration, low awareness and unpleasant experiences. In the early days of the internet, people who experimented with e-commerce suffered due to fraudulent online companies, incorrect or damaged products being delivered or late delivery of goods. Key Highlights In the last two years, there has been a surge in the number of Russians visiting social networking sites such as Yandex, Vkontakte, and DST. According to comScore World Metrix, 34.5 million Russian internet users spent 9.8 hours per visitor on social networking sites during August 2010. This surge in online activity and social media is helping foodservice companies promote their brands among target groups. With nearly 175 million mobile phone subscribers in 2010, the Russian telecommunication market has reached a phone penetration rate of 142.6%. However, after reaching this high rate, the market is now increasingly becoming saturated. Restaurants are eagerly looking forward to consumer adoption of the latest foodservice mobile applications such as online menus, geo-tagging and online table booking. The country's parliament has approved a smoking ban in public places in a phased manner. From the beginning of 2014, all airports, railway stations, trains, buses and other public modes of transport will be the first to implement the ban. It will be followed by a ban on smoking in hotels, cafes, restaurants and nightclubs in 2015. Vodka is losing its status as the preferred drink in Russia with more Russians choosing to consume beer. Russians are regular consumers of alcohol which is considered a part of their daily cuisine. About Canadean Canadean Consulting provides specialist support on commercial, strategic and marketing issues to the international beverage, packaging and liquid food industries. Significant investment has transformed all Canadean's beverage databases into interactive market analysis tools, geared to clients' annual and strategic business planning cycles. End
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