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Ireland - The Future of Foodservice to 2020

Ireland - The Future of Foodservice to 2020

  • January 2017
  • 168 pages
  • ID: 5068725
In this report:
Although the country's recovering economy and falling unemployment rates (##.##% as of October 2016, down from ##.##% in 2014) is resulting in growing financial confidence among Irish consumers, only ##% of those surveyed felt 'confident' or 'very confident' about their 'ability to spend on non-essentials and treats for themselves or their family over the next twelve months'.

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Ireland - The Future of Foodservice to 2020

Brief

In the wake of the 2008 financial crisis, the Irish economy suffered a considerable fall, with unemployment reaching its peak rate of 17.60 percent in 2011. The country's EUR€85 Billion bailout, set up by the International Monetary Fund, European Commission and the European Central Bank in 2010, and the Irish Government's program of austerity also resulted in record-high emigration numbers, especially among young people.

Despite growing financial confidence among Irish consumers, Quick Service Restaurants operators' proposition of reasonable and convenient food continues to resonate with cautiously optimistic customers, who would prefer to spend their bigger disposable incomes on more frequent dining outings than in bigger cost channels. Quick Service Restaurants channel is the biggest profit sector foodservice channel in Ireland.

Saturated and heavily fragmented pub, club and bar channel is the most important profit sector channel in terms of outlet numbers and therefore suffered disproportionately from the post-2008 financial crisis recession years. High unemployment rates and low financial confidence, especially in hard hit rural regions, drove budget tight customers to cut discretionary spending in their local pubs, instead opting to consume alcohol at home at a much lower cost.

Full Service Restaurants channel will continue to enjoy steady, moderate value growth over the next five years, driven primarily by increasing average transaction values, as cautiously optimistic consumers increasingly complement their meals with alcoholic beverages. Outlet growth is forecast to remain static, with outlet numbers set to rise at a weak Compound annual growth rate of 0.30 percent to 2020.

Full Service Restaurants channel in Ireland, in contrast to its UK counter-part, is heavily fragmented, with the best chain operators only generating a 5.50 percent share of the channel's global sales value in 2015 (compared with 30.00 percent in the UK). Ireland's strong economic recovery and high tourism numbers are making the Irish restaurant scene more attractive to outside investors, encouraging both worldwide and domestic chains to farther expand their networks in coming years, especially in Dublin.

The market research "Ireland - The Future of Foodservice to 2020" offers comprehensive insight and analysis of the Republic of Ireland's foodservice market over the next five years (2015-2020) and acts as a vital point of reference for operators or providers.

Strategic analysis report:

- Overview of the Republic of Ireland's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Irish foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.

- Growth dynamics: In-depth data and forecasts of top channels, Pubs, Clubs and Bars, Full Service Restaurants and Retail) within the Irish foodservice market, containing the value of the market, number of transactions, number of outlets and average transaction price.

- Customer segmentation: identify the most crucial demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Irish population.

- Top players: Overview of market leaders within the four main channels including business descriptions and number of outlets.

- Case Studies: Learn from examples of new successes and failures within the Irish foodservice market.

Firms mentioned in this industry report: Abra Kebabra, Avoca, Bagel Factory, Dante Pizza, Domino's Pizza, Dunnes Stores, Eddie Rocket's, F.X. Buckley, Hard Rock Café, JD Wetherspoon, KFC, Mao, Maxol, McDonald's, Milano, Nando's, O'Briens, Portherhouse, Subway, Supermac's, SuperValu, Tesco, Topaz, TGI Friday's.

Overview

- Irish consumers' strong preference and demand for transparent sourcing practices and local products is central to main chain operators' strategies in all main channels. However, this increasingly widespread availability of cost-effective, high quality and locally sourced fresh products across the foodservice market will force operators to show more creativity and innovation in menus to thrive in a crowded market.

- Ireland's strong economic recovery and high tourism numbers are making the Irish restaurant scene more attractive to outside investors, encouraging both worldwide and domestic chains to farther expand their networks in coming years, especially in Dublin.

- The saturated and heavily fragmented pub, club and bar channel is the biggest profit sector channel in terms of outlet numbers and suffered disproportionately from the post-2008 financial crisis recession years. The road to recovery will increasingly require operators in the channel to shift focus towards the 'gastro-pub', offering an enhanced food menu, as well as 'craft' and 'artisan' options.

Great reasons to purchase

- Specific forecasts of the foodservice market over the next five years (2015-2020) will give readers the ability to make enlightened business decisions through identifying emerging/declining markets.

- Consumer segmentation detailing the desires of known consumers among all main foodservice channels (QSR, Pubs, Clubs and Bars, FSR and Retail) will allow readers to understand the wants and needs of their target demographics.

- Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and main players within the Irish foodservice market.

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