Foodservice - Ireland - February 2012
The all-Ireland foodservice market has been in continual decline since 2008 due to the impact of the recession. The Restaurant Association of Ireland (RAI) reported that around 700 restaurants and coffee shops closed down between 2009 and 2011 as a result of the economic crisis.
The drive amongst consumers to save money, particularly as fears continue around the eurozone crisis, the EU-IMF bailout and the prospect of a double-dip recession, is continuing to constrain the market. However, as consumers suffer the stress of financial worries and work longer hours to improve their job security, quick, convenient foodservice options are a key solution for many. Low-cost menu options remain popular, whilst consumers continue to demonstrate an interest in treating themselves to a nice meal out. This theme of out-of-home dining as a reward, combined with greater tourism opportunities and a slightly improved economic outlook, is driving growth in the foodservice market, with the estimated market valued at just over €5.9 billion for 2011.
Key Themes in the Report
- Which sector of the foodservice industry is performing best/worst? – With consumers avoiding eating out during the recession, now the economy is recovering somewhat, how will the market change?
- How do sectors appeal to different demographics? – Young people are the biggest consumers of fast food, whilst older consumers tend to prefer full-service restaurants; what impact will the ageing population have on the industry?
- How are foodservice providers driving sales? – With TV advertising restrictions in place on products which are high in fat, salt and sugar, how are fast food outlets promoting themselves? Can price differentiation continue?
- Are healthy eating concerns impacting the market? – Many foodservice providers have expanded their menu in recent years to include healthy options, in a move to combat rising obesity levels. Could further promotion of healthy eating, combined with the greater accommodation of food sensitivities amongst consumers, help to drive sales?
- Is in-home consumption stealing market share? – As home cooking experiences a growth in popularity (driven by cost-awareness), is the foodservice market losing share as people choose to dine and entertain at home?
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
Why buy from us?
Our reports will provide you with market data, consumer research and competitive intelligence to succeed in your market.
Buy now and you'll have instant access to the information you need to make the right decisions.
Find out what's next in the markets that matter to you: where opportunities lie and what challenges you will face.
A business Superbrand, Mintel is a source you can trust. We have been defining and refining the Market Intelligence mix since 1972.