Report Highlights:
The food processing sector in Russia – which did not experience the same dramatic collapse during the crisis as most other sectors -- continues to build upon its recent growth, supported by rising disposable income, increasing real wages, declining unemployment and growing food expenditure. The European Bank for Reconstruction and Development (EBRD) recently revised upwards its economic growth forecast for Russia in 2013 from 3.3% to 3.5%.
The majority of raw materials and ingredients used by Russian food processors/manufacturers are imported. This leaves ample opportunities for U.S. exports to Russia. WTO accession in 2012 should ease import restrictions for some products and make the overall business and regulatory climate more predictable and transparent. Among the best prospects for U.S. ingredients are: poultry products, nuts and dried fruits, flavor enhancers, colorants and preservatives. Regulatory issues currently prevent the export of dairy, pork and beef from the United States to Russia but absent those barriers these products have great potential in the Russian market.
This report presents an analysis of the food ingredients/food processing market in Russia, reviews its main trends including key players, characteristics of the main segments and prospects for development. The analysis includes the structure of exports and imports, a description of the competitive environment, and profiles of the major manufacturers and distributors of food ingredients in the Russian market.
