A recent report by Bord Bia shows that Ireland’s foodservice industry continues to grow and is now valued at a record €7.8billion, comprising over 33,000 individual outlets. Here are 7 things that the report noticed:
1.) Coffee shops and cafes maintain their position as the fastest growing sector, accounting for 6% of consumer spending on foodservice.
2.) Flat whites are this year’s trending coffee beverage with coffee perceived as an affordable luxury among consumers and health trends are beginning to shape coffee orders with consumers seeking out alternative milks.
3.) There’s a rise in fast-casual concepts (limited service but generally more upscale offering higher quality ingredients and higher average spend than quick-service) to meet the consumer demand for higher-quality foods at an affordable price.
4.) Technology is improving efficiencies. Technology is a foodservice-enabler and third-party delivery is causing some disruption and seeing strong growth, particularly in major urban centres as a result of younger consumers and business travellers favouring convenience.
5.) A focus on provenance can be seen particularly with new chains finding success in labelling menu items as “fresh” and “local which are often associated with “better for you” items.
6.) Aligning to the consumer demand for healthier options is proving a must for large foodservice brands and forecourt stations. There is now a a focus on fresh foods and made-to-order offers.
7.) New cuisines and variety have been introduced into the Irish diet as a result of the continued entry of International brands into the Irish market. This is also creating additional competition for home-grown brands.
Maureen Gahan, Foodservice Specialist in Bord Bord says “We’re delighted to report that the sector remains on track to grow at a compound rate of 4.9% and to reach a value of €9 billion by 2020. Ireland has started to become known as a “food destination” and much of the investment operators have made in quality and service upgrades have helped fuel the foodservice growth witnessed in the island of Ireland (IOI)”.
Read the full report here.