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Irish Foodservice Market Emerges From Period of Decline

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Irish Foodservice Market Emerges From Period of Decline

Irish Foodservice Market Emerges From Period of Decline
November 15
08:58 2013

A report on the Irish foodservice industry, which is currently valued at €6.07 billion at consumer prices, highlights the fact that Fast Food continues to dominate and that although price is still a venue differentiator for today’s value-conscious consumer, diners are also looking for excitement and new product offerings when eating out. Further growth of the market will rely on operators revitalising the dining out experience, whilst maintaining a sense of familiarity.

Bord Bia’s foodservice specialist, Maureen Gahan comments: “2012 saw a return to growth in four of the five commercial channels, which ended a period of decline that began in 2008. The good news today is that the market is predicted to show continued growth over the next 5 years to 2018, averaging a 0.8% increase per annum from 2013 to 2018. Interestingly, there is also an ongoing emphasis on Irish sourcing across all product categories – with provenance, transparency and origin identified as driving trends within the trade.”

Quick Serve Restaurants (QSR) or Fast Food remains the largest Irish foodservice channel, making up 37% of the market. Joining QSR in the list of Top 5 most valuable foodservice channels are: Pubs, Cafes and Coffee shops at 32%, Full Service restaurants (FSR) at 11%, Hotels at 6% and Business and Industry (B&I) at 5%. Leisure & Travel, Education, the Defence Forces and the Prison Service account for the remaining market share.

The combined value of the top two performing channels – QSR and Pubs, Cafes and Coffee Shops – accounts for the majority (69%) of total foodservice sales. This demonstrates how Irish consumers have traded down in terms of their meal options and that lower transaction spend is motivating venue choice.

Among the key findings of the Foodservice Channel Insights Report are:

* In the past year, the Hotels channel experienced its biggest growth increase since the recession began – expanding by almost 3% between 2012 and 2013, to a market value of €384m at consumer prices.

* Improved food offering in pubs has gained traction with consumers, who are increasingly seeing pubs as meal venue choices. Half of Irish consumers (50%) ate in a pub in the 3 month period to September 2013.

* Delivered Wholesale remains the principle route to market, accounting for 65% of the distribution value ahead of Direct at 13%, Cash & Carry at 11%, Contract at 10% and Retail at just 1%.

* Fruit & Vegetables is the leading category in terms of share and sales value, accounting for €355m at operator buying prices or 19% of the total market in 2013 – ahead of Poultry at €251m, Beef at €248m, Bread/Bakery at €238m, Bacon at €186m and Dairy at €181m.

* Of the top ten global foodservice trends identified in this report, 5 relate to menu offerings. This emphasises the importance of new product development within the future growth of the Irish foodservice market.

* Lower price points are driving spend within the foodservice industry. Lunch and/or dinner is typically eaten out-of-home 2-3 times per month (by one quarter of consumers), while light snacks are eaten out of the home up to 2 or 3 times a week (by one fifth of consumers).

* When it comes to eating outside the home, meal deals and efficient service are the two key drivers consumers are most concerned with when choosing a venue.

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