Bord Bia Report Identifies Opportunities in Ireland’s Out-of-Home Market

Maureen Gahan, Food Service, Bord Bia – Irish Food Board

The Irish foodservice market has grown from €6.13bn in 2014 to €6.37bn in 2015, and is forecasted to grow to almost €6.9bn by 2018. This market has benefited from the wider growth in the 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.

Quick Service Restaurants or Fast Food remains the largest Irish foodservice channel, demonstrating how lower transaction spend is motivating consumer’s choice of venue. Bord Bia’s Quick Service and Food-to-Go Insights Report reveals that this segment (which incorporates traditional fast food, fast casual and food-to-go, along with coffee shops and cafes) now accounts for close to 50% of the total foodservice market and is valued at just under €3bn.

The Fast Casual channel in Ireland is forecast to grow at three times the rate of overall market growth, driven by more robust consumer spending, a high degree of interest in the menu variety offered by operators and the ability for consumers to customise menu items. Consumer culture is evolving, with new demands being placed on restaurant operators – fast service, fair price and transparency are three of the most important characteristics for diners.

Bord Bia also recently published its 2015 Irish Foodservice Market Directory, which includes detailed profiles of over 100 operators and wholesale distributors. It is aimed at providing companies with key background information on potential customers and advice on how to drive their foodservice business.

For electronic copies of both reports and online copies of speaker presentations, visit www.bordbia.ie/foodserviceseminar2015.

To order hard copies of either report, contact maureen.gahan@bordbia.ie

Source: Bord Bia - Bord Bia Report Identifies Opportunities in Ireland’s Out-of-Home Market