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Consumers in Russia are seeking to incorporate plant-based foods into their diets.
Plant-based nutrition is gaining importance among more people following vegetarian diets, including those adopting vegan diets.
For many customers, the rationale for preferring plant-based proteins focuses on the correlation of health benefits, superior nutritional value, and the desire to reduce meat consumption in modern times.The growth in the plant-based protein market is primarily driven by changing food preferences.
The plant-based protein market is rather fragmented in Russia with the presence of large companies such as ADM, Cargill, Cosucra Groupe Warcoing S.A., DuPont de Nemours, Inc., Kerry Group, NOW Foods, Ingredion Incorporated, Tate & Lyle, and Beyond Meat.
Consequently, ConsumerIntel360 projects that the growing competition is expected to allow retailers to put more private labels into the marketplace.The Russian plant-based protein producers are primarily competing with conventional animal-protein companies such as Cherkizovo Group, Miratorg, Cremonini SPA, Zarechnoe, AgroPromkomplektaciya, and others.
These major companies have also developed high brand awareness and a broad customer base in the animal-protein market in Russia.