Cooked Meats- Packaged Category Generates Highest Returns in Russia Meat Market: Ken Research
Posted on 02 March 2017 by KenResearch Food and Beverage,
Ken Research has announced its recent distribution on “Consumer and Market Insights: Meat in Russia” which provides an overview of the market, analyzes the market data, demographic consumption patterns within the category, and the key consumer trends that lead to increased consumption.
The report identifies the key groups boosting the overall consumption, and what motivates their consumption and also highlights innovations in new products development that effectively target the consumer need states, as well as offers optimum strategic recommendations in order to capitalize on evolving consumer landscapes.
It gives an overall market data in terms of value and volume with growth analysis for future years. It also identifies the most important trends within the market and shows whether beliefs over the reasons responsible for influencing consumer behavior are accurate and uses a unique method of quantifying the consumer trends in order to highlight the degree of influence they have on consumption.
It aids in gaining an in-depth understanding of the total competitive landscape based on proper brand share analysis done in detail for planning market positioning effectively further allowing product and marketing strategies to be better aligned with the leading trends in the market.
- Value for money products in the Russian Meat Market are increasing in demand as an effect of rising inflation. Therefore, The Frozen Meat category has the highest volume share in the overall meat market accounting for 40.0% value share.
- Market is able to retain the existing consumers and they account for the majority of meat consumption across all categories. Both Russian men and women consume meat products at a massive frequency.
- Hypermarkets and supermarkets are the distribution channels that are leading in the market and are expected to expand at a CAGR of 5.7% over the forecast period making meat markets grow well.
- Chicken is the largest segment in the cooked meats- packaged category and fresh meat and cooked meals account for the highest private label penetration in the Russian meal market.
- The Russian Meat market is forecasted to grow at a much improved rate in terms of both value and volume during 2014-2019 in comparison to 2009-2014 and the Cooked Meats - Counter category is forecasted to register the highest growth in value terms during 2014-2019.
- The market is likely to expand at a CAGR of 7.7% over the forecast period with a major share in the ‘ready to eat’ meat products making it more convenient for the consumers for usage. Growth of the market is guaranteed since the innovation in the development of new products will be present throughout in the years to come.
For more coverage click on the link below:
Head Marketing & Communications