Analysis of the Russian Diaper Market
In 2023, on China's latest foreign trade report, the only country with an export growth rate exceeding 100% is Russia. This is attributed to Chinese companies being able to receive payments from Russian buyers in Chinese Yuan. Currently, approximately 70% of settlements in Sino-Russian trade are conducted in Rubles and Chinese Yuan. With the onset of sanctions from Europe and the United States, a void has emerged in the Russian market. China has now become Russia's largest trading partner.
Russia, with its population of 144 million, naturally boasts a substantial market for maternity and baby products. According to statistical data, the Russian maternity and baby product market reached a staggering $8.26 billion in 2019. Particularly in major cities like Moscow and St. Petersburg, the maternity and baby product market has shown a trend of rapid growth.
The Russian maternity and baby market is a crucial component of the country's consumer goods market and one of the fastest-growing markets. With the younger population and the growth of the middle class in Russia, this market has vast prospects. According to data from market research firm Euromonitor International, the size of the Russian maternity and baby market is expected to grow from $132 billion in 2019 to $182 billion in 2024, with a compound annual growth rate (CAGR) of 6.5%! From 2018 to 2023, the revenue of the Russian baby diaper market increased from $10.62 million to $12.17 million.
In late September, Jiayue attended a hygiene products exhibition in Russia. During this period, there were ongoing discussions with customers. Notably, a Russian enterprise with over a century of history had a very favorable impression of Jiayue, praising our products as excellent and highly attractive. Furthermore, two to three customers who visited our booth multiple times brought their own samples, asking us to conduct tests and expressing the hope of producing products with similar specifications. This indicates that in Russia, the diaper market still holds significant dividends, as evidenced by the continuous influx of enterprises and reorders. Jiayue believes that in the coming years, the Russian market will continue to develop positively.More details pls contact us~Whatsapp/Tel/Wechat: 0086 15980308853
