Following the global trend, yoghurt products and juices were among leaders of the growth in Russia, 18 percent up in 2006.
Photo: Alexander Miridonov
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Russian Food Market World's Fastest-Growing
The food market grew three times as fast in Russia in 2006 as in the world on the average, according to global market research by ACNielsen. The Russian food industry is expected to add 8 percent each year, which will attract more foreign producers to the country, experts say.
In money terms, the food market added 4 percent worldwide and 3 percent in Europe from July 2005 to July 2006. The indicator in Russia is three times as high – 11 percent.
Following the global trend, yoghurt products and juices were among leaders of the growth in Russia, 18 percent up in 2006. But it was ready-made food that became the biggest gainer in Russia – a 41-percent rise. The segment of fizzy drinks went up 18 percent in Russia, and only 6 percent in the world.
Experts attribute the food boom to an increase in personal incomes. Russia’s largest dairy and juice producer Wimm-Bill-Dann posted a 30 percent growth in sales for the first nine months of 2006. Coca-Cola announced a 10-percent rise, which is one of the highest growth rates compared to other countries, Coca-Cola Russia reported.
According to analysts, the Russian food market will keep adding 8 percent annually in the next years to come. The market’s well-being is proved by recent major deals such as Wrigley’s widely reported purchase of the chocolate producer Korkunov. Meanwhile, food giants Danone, Nestle and Bunge announce plans to expand production and distribution in Russia.
www.kommersant.com
All the Article in Russian as of Feb. 14, 2007
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