RUSSIA FOOD EMULSIFIERS MARKET - GROWTH, TRENDS, AND FORECAST (2020 - 2025)
The Russian food emulsifiers market is projected to register a CAGR of 2.6% during the forecast period.
- The per capita spending of Russian consumers is lesser than the value of the food industries of the country. Thus, foreign investors and domestic manufacturers are investing in the food emulsifiers market, due to the presence of a larger population and better economic conditions in the country.
- The meat industry accounts for a prominent share of the market studied.
- Though the market is highly fragmented, owing to the high presence of the domestic players, the global players dominate the market share.
Key Market Trends
Meat, Poultry, and Seafood Segment Dominates the Market
The meat, poultry, and seafood segment accounts for a significant share of the market studied, owing to the augmenting meat industry of the country, which heavily utilizes emulsifiers in the production process. The major emulsified meat products that are widely consumed in the country, and which are projected to increase in consumption, include sausages, pates, and luncheon meat. Thus, an increase in the consumption of meat is boosting the food emulsifiers market. Global players are using lecithin in the meat, poultry, and seafood segment. For example, Dupont offers SOLEC Lecithin and other products.
Lecithin is the Fastest Growing Segment
The demand for lecithin as an emulsifier is growing in the country, owing to an increasing interest in label-friendly ingredients. Therefore, manufacturers are launching such products to augment their market shares. For instance, in 2018, Cargill launched a new range of de-oiled lecithin products in European countries, including Russia. The ingredient is largely catered to the bakery and snack manufacturers to produce consumer-specific products at an affordable price.
Moreover, Russia is highly inclined toward the production of sunflower-based lecithin, as it is one of the largest producers of sunflowers. Lasenor Emul SL, a privately owned company dedicated to the production and sales of food emulsifiers, built a plant in Azov (Rostov Oblast, Russian Federation), thus, reinforcing its position as one of the leading producers of sunflower lecithin in the world.
The players operating in the Russian food emulsifiers market are trying to gain a competitive edge over the ingredient manufacturers, by launching innovative product offerings and adopting innovative strategies to scale up their market share. Moreover, the companies are focusing on increasing the production capacity of their existing plants or expanding into other countries of the region, while also investing in R&D activities.
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