MARKET REPORT
RECORD NUMBERS EATING
‘OUT OF HOME’
Pictured at Bord Bia’s annual foodservice industry seminar in the Aviva Stadium in Dublin are Maureen Gahan (left), Foodservice Specialist, Bord Bia, and Alison Cowzer, East Coast Bakehouse.
Ireland’s foodservice market grew to a record €7.5bn this year and is forecast to grow to over €9bn by 2020, according to a new Bord Bia report published on November 2nd. The figures were welcomed by over 300 delegates at Bord Bia’s annual foodservice industry seminar in the Aviva Stadium in Dublin. 28
HOTEL
F
oodservice or ‘out of home’ describes all food consumed away from home, including everything from restaurants, hotels, coffee shops and bars, to workplace catering, hospitals, education and vending. According to Bord Bia, this market segment has benefited from better than anticipated economic growth, buoyant consumer confidence, a strong domestic and international tourist market, an unemployment rate that is now less than eight per cent, and the continuation of the nine per cent VAT for hospitality. “It has been a bumper year for foodservice in Ireland,” says Bord Bia’s foodservice specialist, Maureen Gahan. “Despite the uncertainty that Brexit brings, we are still in the enviable position of being the fastest growing economy within the EU. The foodservice market has witnessed an annual growth rate of over five per cent per year for the past number of years, with both consumer and business tourist numbers fuelling major growth in urban centres.” MARKET BREAKDOWN Almost 35% of consumer spend is found in Quick Service Restaurants, which comprises traditional fast, and more upmarket, food outlets, along with the growing area of foodto-go. Pubs account for 18% of consumer spend (excluding alcohol), with food-led
CATERING REVIEW | NOVEMBER 2016
028_H&C_NOVEMBER 2016_Market.indd 28
24/11/2016 14:20