Market Research in Kazakhstan

Kazakhstan is no longer just about oil and gas. The country’s economy is expanding into new sectors, offering businesses unique opportunities.

How can businesses succeed in one of Central Asia’s most dynamic economies? Market research in Kazakhstan offers essential insights into consumer behavior, industry trends, and regulatory challenges, helping businesses tailor their strategies to the unique demands of this large and diverse market.

What Is Market Research in Kazakhstan?

Market research in Kazakhstan helps businesses understand the local consumer base, industry trends, and regulatory environment, providing them with the information needed to develop successful strategies.

In Kazakhstan, businesses must navigate challenges such as government regulations, understanding cultural nuances, and adapting to an evolving market. Market research in Kazakhstan equips companies with valuable insights into local market dynamics, consumer preferences, and competition.

Kazakhstan: The Fundamentals

Kazakhstan is the largest of the Central Asian states and more than twice the size of the others combined. It is rich in natural resources, including oil, gas, coal, and other mineral deposits (gold, copper, aluminum, and zinc). The country is also the world’s largest producer of uranium.

Kazakhstan belongs to the Eurasian Economic Union, and it has financial links with Russia, Belarus, Kyrgyzstan, and Armenia. This economic union is a gateway for foreign companies to a total market of around 200 million. Kazakhstan also joined the World Trade Organization in 2015.

Agriculture is a rapidly growing industry aimed at increasing the competitiveness of local products. Over a third of the country’s citizens depend on agribusiness for income. Kazakhstan exports grain to over 70 countries, in the top ten percentile globally. Supplying equipment to support this sector is a considerable opportunity.

A favorable business climate promotes increasing foreign direct investment in Kazakhstan. Political stability and strong investor protection provide many guarantees to cut risk.

Nur-Sultan City

Nur-Sultan (previously called Astana) is the country’s capital city. Almaty, the former capital, still retains a larger population than Nur-Sultan. While Almaty remains a commercial hub, economic activity is flowing to Nur-Sultan. A massive boost followed the creation of the new Astana International Financial Centre. The government and many large state companies now have headquarters in Nur-Sultan. Many local and international companies have followed the trend. It may soon become Kazakhstan’s principal commercial city.

Designed by Japanese architect Kisho Kurokawa, Nur-Sultan is a modern and futuristic masterpiece. It is function woven in harmony with many cultural icons.

Bayterek is the symbol of Nur-Sultan city. The monument represents the legendary poplar tree, symbolizing a state that reaches for the future without forgetting its roots.

Another must-see project is the Palace of Peace and Reconciliation, a pyramid that houses artist Brian Clarke’s artwork. The picture of 130 doves symbolizes the 130 nationalities living in Kazakhstan.

Opportunities in Market Research in Kazakhstan

Kazakhstan offers a variety of opportunities for businesses across multiple sectors. Market research in Kazakhstan is essential for identifying these opportunities and making informed decisions. Here are ten key opportunities businesses can explore:

• Renewable Energy: With a strong focus on sustainable development, there are significant opportunities in solar, wind, and hydroelectric power.
• Agriculture: Kazakhstan has vast agricultural land, and there is potential for innovation in sustainable farming, food processing, and exports.
• Mining and Natural Resources: Despite economic diversification, Kazakhstan remains rich in minerals and metals, providing opportunities for resource extraction and related services.
• Technology and Digital Transformation: With a growing demand for digital services, businesses involved in IT, telecommunications, and e-commerce can find promising opportunities.
• Infrastructure Development: Kazakhstan’s infrastructure needs are expanding, with investment in roads, railways, and public utilities presenting opportunities for construction and engineering firms.
• Tourism: As the government looks to boost tourism, businesses in hospitality, eco-tourism, and cultural tourism have opportunities to grow.
• Financial Services: The financial sector is developing, with increased demand for banking, insurance, and investment services, especially in urban centers.
• Education and Training: There is a growing demand for vocational and technical education, particularly in industries like technology and renewable energy.
• Healthcare: The healthcare sector is expanding, offering opportunities for businesses in medical services, pharmaceuticals, and healthcare technology.
• Logistics and Trade: Kazakhstan’s strategic location as a gateway between Europe and Asia creates opportunities in logistics, trade, and transportation services.

Consumer Base

Kazakhstan is Central Asia’s most prosperous economy. The growing Kazakhstani middle class reflects this. Their demand for quality products and brand names increases with their income. Consumers have access to both inexpensive Chinese and Russian goods and Western goods. After-sales customer service can be a strength for growing businesses in the country. Currently, customer service in Kazakhstan is weak.

Kazakhstan has a population of 17.6 million spread over a large landmass. The sparse population poses challenges in transport and distribution, especially for rural communities. Approximately half of the Kazakh population lives in rural areas. Logistics and digital technologies have gained a renewed focus. The country is exploring methods to deliver public services to the countryside. There has also been an increase in remote work worldwide. Kazakhstan needs strong telecommunications networks and online trade solutions to support this growth.

How SIS International’s Market Research in Kazakhstan Helps Businesses

SIS International’s market research is an essential resource for businesses aiming to succeed in Kazakhstan’s complex and evolving market. Our expertise provides companies with the insights needed to navigate local challenges, understand industry trends, and seize opportunities in this growing economy.

Enhanced Strategic Planning: SIS International’s research offers deep insights into Kazakhstan’s economic landscape, consumer behavior, and regulatory changes, enabling businesses to plan effectively for long-term success.

Increased Revenue: By identifying the most promising sectors such as renewable energy, agriculture, and technology, SIS International helps businesses target high-growth areas, ultimately driving increased revenue.

Risk Reduction: Our market research in Kazakhstan assists businesses in mitigating risks related to regulatory hurdles, market volatility, and economic fluctuations, ensuring smoother market entry and operations in Kazakhstan.

Improved Marketing Efficiency: With tailored insights into local consumer preferences and regional differences, SIS International helps businesses refine their marketing strategies, ensuring that their efforts resonate with the right audience.

Accelerated Growth and Innovation: By staying ahead of emerging trends in sectors like digital transformation and infrastructure development, SIS empowers businesses to innovate and grow faster in Kazakhstan’s rapidly changing market.

Boosted ROI: With data-driven strategies and in-depth market analysis, businesses can optimize their investments, ensuring higher returns and sustainable growth in Kazakhstan’s diverse economy.

About SIS International

SIS International offers Quantitative, Qualitative, and Strategy Research. We provide data, tools, strategies, reports, and insights for decision-making. We also conduct interviews, surveys, focus groups, and other Market Research methods and approaches. Contact us for your next Market Research project.