Irish Foodservice Market Worth €6.3 billion
4th November 2015
Ireland’s foodservice sector is continuing to enjoy year on year growth according to a new report launched by Bord Bia today.
The foodservice market, which covers all food consumed out of home, from restaurants, hotels, coffee shops and bars to workplace catering, hospitals, education and vending, is currently valued at €6.37 billion, compared to €6.13 billion in 2014, and is forecasted to reach €6.9 billion by 2018.
According to the ‘Quick Service and Food-to-Go Insights Report’, the foodservice sector has benefited from growth in the wider economy, rising confidence amongst Irish consumers, a strong international and domestic tourism market, a falling unemployment rate and the continuation of 9% VAT for hospitality.
Speaking at today’s Foodservice Seminar, Bord Bia’s foodservice specialist, Maureen Gahan said: “It’s encouraging to see that the sector is continuing to grow at an even faster rate than was forecast this time last year. Overall, Ireland is still viewed as a growth market for both domestic and international chain operators and opportunities exist for Irish food and drink suppliers that have the capacity to service them.”
In addition to analysing the sector’s overall performance, the report also highlighted:
– ‘Better-for-you’ positioned foods are viewed favourably by consumers. Better-for-you ingredients are growing in importance, as they provide a “health halo” for menu items that can help operators differentiate from the competition in a manner that is highly relevant to their customer base.
– The role that technology plays in how outlets interact with their customers cannot be underestimated and is changing the face of how they build loyalty programmes, to facilitate pre-order, cash-less transactions and re-defining take away with online delivery services such as Deliveroo and Just Eat.
– There is an ever growing crossover between the retail and foodservice markets as the market continues to grow for ‘Food-to-Go’ and its being driven by a consumer that is looking for speed, improved food quality and expanding offerings from major chains. Forecourt convenience operators recognise the importance of servicing today’s Transumer – the customer that is on the go and looking for dashboard dining options.
Read the report in full here: www.bordbia.ie