The Russian foodservice market is still relatively under development process and offers huge potential for growth. The Russian economy underwent recession in 2014-2015, marked by combination of factors including limitation of capital inflows, food import restrictions, and devaluation of ruble – which resulted in overall purchasing power of consumers. However, this devaluation increased the domestic travel in the country and served as major driver for growth in the foodservice industry in Russia.
Get Sample Copy Of This Report at http://www.orbisresearch.com/contacts/request-sample/2326232
Fast Food Restaurants remains the Major Driver for Russian Food services Market
Consumers have been observed for increased inclination towards casual places (vs. expensive restaurants), fast casual format (vs. casual dining). Retail ready food (vs. quick service restaurants). The all-time popularity of fast food restaurants in Russia coupled with pocket friendly feature remained the major reason for its growth in the country even during the economic slowdown especially among young and middle-aged Russian consumers. The increased growth is supported by increasing consumption of processed products such as pancakes, burgers, sandwiches, chicken, pizza, and baked potatoes among Russians. Also, the fast food restaurants mostly procure the ingredients from domestic suppliers and utilize local ingredients, which makes the overall cost less.
Rising Number of Chained Restaurants in Russia
The two largest cities namely, Moscow & St. Petersburg accounts nearly for 58% share in terms of chained outlets in overall market. The high operational costs for settling up the establishment has instigated the players to expand their presence in the country. Chained food restaurants in Russia have been recording increase in value sales through development of various outlets, thus increasing their presence. The increasing sales of chained restaurants can be attributed to consumers preference for well-known and stable foodservice standards offered by chained outlets in Russia. Full service restaurants have been shown a decline in value sales, with decrease in number of outlets as well. The fast food restaurants in the Russia foodservice market accounted for a share of 31% in 2017.
Key Developments in Russia Foodservice Market
April 2018 – McDonald Corporation in Russia had announced to utilize domestically cultivated potato to deal currency volatility caused by fluctuation in oil prices and Western sanctions. The supply of frozen fries to chain of nearly 650 outlets will be met through a new plant in Lipetsk (a city 450 km south from Moscow).
Russia Foodservice Market Competitive Landscape
Major Players – Arkadiy Novikov Restaurants, Burger King, G.M.P. Planeta, Gallery Alex, Ginza project, Kroshka-Kartoshka, Markon Company, McDonalds Corp., Rosinter Restaurant Holding, StarBucks Corporation and Yum! Brands, among others.
Franchising and sub-franchising has gradually become the most preferred strategy of international and regional players to enter and increase their penetration in Russia food service market with lower level on investment, as the pre-requisite for settling up of outlets are generally included in the franchise agreement.
Reasons to Purchase the Russia Foodservice Market Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel.
Customization of the Russia Foodservice Market Report
Market Entry Analysis
Make an Inquiry before Buying@ http://www.orbisresearch.com/contacts/enquiry-before-buying/2326232
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.