Rising Demand for Bakery Products is anticipated to boost the Russia Frozen Food Market during the forecast period 2020-2025. Russia Frozen Food Market size is $5,216.7 Million by 2019, growing at a CAGR of 4.1% during the forecast period 2020-2025.
The Russia Frozen Food Market is growing at a significant rate owing to the changing lifestyle coupled with growing health concerns among consumers and the rising demand of frozen gluten free bakery products in that region. Frozen food products offers several advantages such as they retain their vitamins and minerals and there is no change to the carbohydrate, protein and fat content. Owing to these benefits there is an upsurge in the markets for frozen food products among consumers.
Rising health conscious population and the increasing consumer’s inclination towards frozen gluten free bakery products is a significant factor driving the Russia Frozen Food market during the forecast period 2020-2025. Also, the rising demand of frozen bakery products among younger generation in Russia has compelled companies to expand their product portfolio in order to meet with the rising demand for frozen bakery products in Russia. For instance, Puratos Russia had launched an innovation center in Russia for creating innovative frozen bakery, patisserie and frozen products. Moreover, according to Food and Agriculture Organization (FAO), nationwide consumption of bakery products is estimated to reach 6.5 million tons by 2020, out of which the consumption of frozen bakery products would be the highest and consumption per capita is estimated to reach 46kg, which in turn is influencing the growth of Russia Frozen Food Market. Furthermore, numerous benefits offered by these products such as ease of availability and longer storage duration is driving the growth of this market in the future. With a larger section of the employed population, the demand for convenience foods is higher which is likely to boost the demand for Russia Frozen Food Market in the coming years.
Moreover, the growing working population coupled with their hectic schedules has increased the demand of convenient and ready-to-eat products in the region which is further contributing to the regional market growth. Furthermore, according to Organization for Economic Cooperation & Development (OECD), in 2019 Russia had per capita consumption of 30.6KGs of poultry meat, 20.6 Kilograms of pork meat, 10.1 Kilogram of Beef & Veal and 1.3 Kilograms of Sheep meat.
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Russia Frozen Food Market Growth Drivers:
- Rising Demand for Convenience Food:
The growing shift of consumer’s towards ready-to-eat food and packaged food is a significant factor driving the Russia Frozen Food market as it requires minimum cooking time. Moreover, the growing preference of consumers towards convenience foods owing to the hectic schedules of working population coupled with increasing disposable income is a vital factor upsurging its market growth. Hence, the consumers spend more time buying frozen food products to cook instant homemade food which is turn is generating huge revenue and eventually contributing to its market growth.
- Technological Advancement:
Technological advancement and the use of various freezing techniques adopted by major key players resulting in higher quality frozen foods products with a longer shelf life is a vital factor driving the Russia Frozen Food market during the forecast period 2020-2025. Moreover, in July 2018 Grass Run Farms launched its frozen meat patties in resalable pouches and multi-use recyclable carton package. In addition the company also uses (IQF) technology, through which superior food products can be produced. The unique packaging solution offered by the company allows consumers to take the frozen food from the refrigerator and place it directly into the microwave oven. Therefore, the availability of such innovation packaging has led to an upsurge in its market growth.
- Increasing use of Frozen Food in Restaurants:
The increasing use of frozen food in various restaurants owing to its longer storage duration and thereby saving operational cost is a vital factor contributing to its market growth. Moreover, they require lesser time for cooking and reduce customers waiting time, therefore large number of restaurants, fast food chains and quick service restaurants are adopting them as alternatives to fresh ingredients which in turn is boosting its market growth in the future.
The Major Players in this Market Include
The major companies in the Russia Frozen Food Market include General Mills Inc., Cargill Corporation, Nestle S.A., ConAgra Brands, McCain Foods Limited, Bonduelle Group, Unilever, Kellogg, Grupo Bimbo and Kraft Heinz.
Over the years manufactures are mainly focused on developing new products with nutritional benefits in order to meet with the rising demand of consumers. The continuous developments and innovation of various products is a major factor driving the Russia Frozen Food Market during the forecast period 2020-2025. Moreover, the growing demand for frozen fruits and vegetables among Russian consumers has compelled the companies to enhance their frozen fruits and vegetables in Russia to increase their production capacity in order to meet with the growing consumers demand. For instance, Bonduelle has launched frozen vegetable factory in Belgorod to increase the production capacity to 10,000 tons of frozen products per year.
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