Russia Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Russia Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Russian foodservice market is likely to witness a CAGR of 5% during the forecast period (2019-2024).

Key Highlights

• The market is driven by increasing household budgets and rapid rollout and promotional activities of the key players.

Key Highlights

• Moreover, with many of the leading internet companies in Russia entering into the online food delivery business, consumers find it convenient to purchase food from their preferred hotels and restaurants with ease.

Key Market TrendsChained Consumer Foodservice Witnessed as Fastest Growing Segment

Fast food outlets and coffee houses are growing rapidly in Russia compared to fine dining and mid-range restaurant as the chained outlets offer foods that are inexpensive and convenient. Young and middle-aged consumers in Russia heavily purchase food from chain restaurants. Chained fast food outlets are performing well in the country, owing to factors, such as the overall popularity of franchising in Russia and the customer's preference toward well-known and consistent foodservice standards provided by the chained outlets.

Increasing Prevalence of Food Chain Outlets

Russia is witnessing an increase in the number of international food chain outlets, due to an increased number of individuals preferring cuisines, meals, and dishes of other countries, like pancakes, burgers, sandwiches, chicken, pizza, and baked potatoes. There is a steady increase in the number of food chain outlets in the regional cities of Russia that is attributable to the large-scale international events taking place throughout the country. Also, the numerous individual outlets of chained foodservice brands, such as Subway and KFC, in shopping malls have led to increased brand visibility.

Competitive Landscape

Major players in the Russian foodservice market include Mcdonald's, Yum! Brands RSC, Burger King Corporation, Starbucks Coffee Company, Doctor's Associates Inc., and Rosinter Restaurants. Chained food restaurants in Russia have been recording an increase in value sales through the development of various outlets by companies, thus, increasing their presence. Companies are increasing their production capacity and expanding their distribution network by signing contracts with logistics service providers, in order to grow their business and gain competitive advantage.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Mcdonald's
Yum! Brands RSC
Burger King Corporation
Starbucks Coffee Company
Doctor's Associates Inc.
Rosinter Restaurants
Novikov Group
Teremok
GINZA PROJECT

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.