Market Size of Russia Foodservice Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Russian Foodservice Market Analysis
Russia's food service market is expected to witness a CAGR of 5.2% in the upcoming five years.
- Over the medium term, consumer demand for different delicacies may foster the market's growth. With increasing busy schedules and rising household budgets, consumers are willing to taste a variety of non-native food recipes and novel cuisines, resulting in increasing demand for out-of-home food in the country. Restaurants offer diversified and dedicated cuisine types that attract consumers to visit frequently. Moreover, the growing promotional offers like happy hours and coupon discounts drive market sales. These services are especially given or offered on breakfasts, lunches, and dinners on an occasional basis to attract consumers to visit frequently.
- The increasing number of fast-food chains, cafes/bars, and other restaurants with unique, innovative formats, concepts, and services/delivery options also positively drives the market's growth. Consumers visit these food service establishments for food and to hang out with peers and their companions. This encourages the players in the market to decorate or install 'Instagrammable' and unique themes at their restaurants and retail food establishments, thus, attracting the consumers to visit these places for their ambiance.