Irish Food Service Market Reaches Record €7.8bn Value

By Dave Simpson
Irish Food Service Market Reaches Record €7.8bn Value
Bord Bia's 2017 Irish Foodservice Channel Insights Report has revealed that the Irish food service market is now valued at a record €7.8 billion, with the sector currently being comprised of 33,000 individual units.

Bord Bia's research indicates that takeaways and "grab and go" outlets are the key drivers of growth in the market, while healthier food trends are increasingly influencing menus as well, according to The Irish Independent.

The report also shows that over a third of consumer spend is on limited restaurant services, including casual dinning and takeaways, as opposed to 12% in full service restaurants and 17% in pubs.

Bord Bia attributes a drop in pub dining fugues, excluding alcohol, to Brexit and the resultant decline in weekend stays and holidays in Ireland by UK residents.

Meanhwile, hotels and cafés are exhibiting the greatest share gain, accounting for 17% and 6% of total food service consumer spending, respectively.

The food service sector is expected to increase to €9 billion by 2020.