Market Entry - Beauty Drinks Industry in Russia: Analysis of Growth, Trends and Progress (2020 - 2025)

About the Market

Increasing air pollution and busy lifestyle, leading to early aging; and the rising awareness among health-conscious consumers across various countries are triggering the beauty drinks market. The consumers can be categorized into three groups’ viz., teenager, younger women and mature women. Beauty drinks are rich in collagen or protein, vitamins, minerals and fruit extracts. Collagen being the most significant has a lot of market potential and can be used as a multifunctional ingredient for various beverage categories like anti-aging, sports, beauty and health. The latest drinks are formulated with collagen, hyaluronic acid, Q10, and antioxidants. Europe, North America, and Asia-Pacific are the fastest emerging markets. SIPA Spa, The Coca-Cola Company, Sappe Public Company Limited, Big Quark LLC are some key players in the market.

About the Geography

Russia is the largest country in terms of area and has a democratic government with a very strong president. Russia has undergone significant changes since the collapse of the Soviet Union, moving from a centrally planned economy towards a more market-based system. The economy, which had averaged 7% growth during 1998-2008 as oil prices rose rapidly, has seen diminishing growth rates since then due to exhaustion of Russia’s commodity-based growth model.

Russia is seeking to develop in an adverse political and economic environment. The government is trying to transition from an economy based on oil and raw material extraction to an economy based on technology. To achieve this, continual improvement of the attractiveness of investment in Russia remains one of the government’s key strategies. As a part of this, they have created special economic zones, ‘advanced development’ territories, and developed tax incentive systems.

The Russian economy is going through a difficult period with international sanctions, drop in oil prices and other limitations. The major challenges for doing business include the vastness of the country, which means different levels of economic and social factors, high levels of corruption and extreme climatic conditions. The Russian economy is trying to get rid of inefficiencies at all levels including government spending and there is an enormous push for localization of production to diversify the economy.

The Market Entry Series

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