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Value of Irish foodservice market rises to reach record €7.8bn in 2017

Written by Robert McHugh, on 8th Nov 2017. Posted in Agriculture

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Ireland’s foodservice market continues to grow and is now valued at a record €7.8billion, comprising over 33,000 individual outlets. This is according to a 2017 Irish Foodservice Channel Insights Report from Bord Bia which is being released in advance of its annual foodservice seminar which takes place in the Aviva Stadium, Dublin.
 
The foodservice market includes all food consumed out of home incorporating restaurants, pubs, hotels, coffee shops, workplace catering, hospitals, education and vending. The report, which also tracks consumer behaviour and sentiment when eating away from home, highlights that take away, or grab-and-go concepts, are one of the key drivers of foodservice growth and that healthier foods are trending and influencing menu ideation. 
 
Over one third (35%) of consumer spend is found in Limited Service Restaurants, which incorporates quick-service restaurants, fast-casual dining and food-to-go, with 12% attributed to Full Service Restaurants. Consumer spending in pubs (excluding alcohol) accounts for 17% of the market value and is showing a lower year on year growth rate than the overall market attributed in part to Brexit which has decreased weekend trips and holiday visits to Ireland by UK travellers. The two segments showing the biggest share gain are the hotel segment, accounting for 17% of total foodservice consumer spending and the coffee shops and cafes which now account for 6%. 
 
The investment in beverage has been seen across all segments as operators strive to provide High Street level coffee and beverage programmes to their guests. 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. 

The report finds 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.

The findings of the report will be shared with more than 300 delegates at Bord Bia’s Foodservice Seminar taking place in the Aviva Stadium, Dublin today. The annual event which discusses emerging trends in the sector will be chaired by entrepreneur and business-man, Bobby Kerr.
 
Source: www.businessworld.ie 

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