Indulgence drives syrups and spreads market in Russia

According to the report 'Consumer Trends in the Syrups & Spreads Market in Russia, 2011', about…

According to the report 'Consumer Trends in the Syrups & Spreads Market in Russia, 2011', about 40% of Russians have expressed that their consumption was influenced by indulgence during 2011, followed by better value for money, and personal space and time.

These three trends have continued the dominance even among the segments, with indulgence influencing syrups, sweet spreads, jams, jellies & preserves the most, better value for money impacted molasses and personal space and time has influenced savory spreads market.

In 2011, Russian syrups & spreads market has experienced a significant value share from sweet spreads segment, which topped the list with about 37%, followed marginally by jams, jellies & preserves at 34%.

Savory spreads, pegged at 24%, stood third, while syrups and molasses were trailing at the bottom with less than 5% market value share.

Jams, jellies & preserves, however, edged out sweet spreads in volume terms capturing a share of more than 40%, the report observed.

Private label products have penetrated notably in Russian Federation's syrups & spreads industry during 2011, with molasses posting a huge 61.8% penetration.

Older people aged about 55 have held the majority value share in 2011 at 26% compared to the remaining age groups, while it was those Russians who completed higher education have accounted for nearly 40% share of value.

Canadean's analysis from wealth groups' perspective has revealed that the people with moderate income represented the highest value share of about 38% in the year under review.

The report also offers volume share details of organized retail and analyses the levels of retailer switching in the second half of 2011.