Sales of lard in Russia increased by almost a quarter

Published Dec 17, 2024

Tridge summary

Sales of lard and bacon in Russia are on the rise, with a 21.5% increase in volume and a 6.1% increase in money terms in the first three quarters of 2024 compared to the same period in 2023. This growth is largely due to the development of the product through private labels, which account for 40% of sales in monetary terms and 39% in physical terms. The high price of lard, which is currently 600-700 rubles per kg, compared to 300-400 rubles per kg for meat, is due to the challenges of raw material availability and low margins. However, consumption patterns are shifting towards less fat intake, and the demand for lard is expected to continue changing as people reduce their calorie intake and enjoy a wider variety of meat products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the research company NTech, sales of lard and bacon are growing at an accelerated pace: by 21.5% in physical terms and by 6.1% in monetary terms in the first three quarters of 2024 compared to the same period in 2023. For comparison: for cooked sausages in the same period, the dynamics were 12.1% and 0.8%, for sausages - 12.9% and 1.7%, respectively. Such positive dynamics of lard and bacon is due to the fact that this group of products of the chain was developed through its own brands, according to NTech. The share of private labels in the "Lard, bacon" group is 40% in monetary terms and 39% in physical terms, while in the category of meat gastronomy as a whole - 12% and 13%, respectively. True, the share of lard and bacon in the category of meat gastronomy is not so significant: only 0.9% in kind and 1.3% in monetary terms. NTech Analytics Director Leonid Ardalionov notes that in Russia, mainly meat and bacon breeds are grown, for which the yield of back fat (from ...

Source: RG