New Market Research Report: Ireland Food & Drink Report Q1 2015
New Food research report from Business Monitor International is now available from Fast Market Research
[USPRwire, Wed Jan 21 2015] We expect Ireland to be the eurozone's fastest growing economy for the second consecutive year in 2015. Recent data from the Central Statistics Office (CSO) showed that real GDP growth was 4.9% year-on-year (y-o-y) over the first three quarters of 2014, suggesting growth will meet our 3.5% forecast for the year. We think Ireland's economic recovery has reached escape velocity, expecting the country to continue benefitting from close trade links with the US and UK, which should partially insulate the country from ailing eurozone demand. Steady exports should then translate into a continued improvement in wages and unemployment. Alongside low inflation and recovering consumer confidence, these factors suggest Irish households will begin spending again in 2015, with private consumption set to play a bigger role driving growth.
* Total food consumption growth year-on-year (y-o-y) in 2014: +2.7%; compound annual growth rate (CAGR) to 2018: +3.5%
* Per capita food consumption growth y-o-y in 2014: +1.6%; CAGR to 2018: +2.4%
* Soft drinks value sales growth y-o-y in 2014: +3.2%; CAGR to 2018: +4.2%
* Alcoholic drinks value sales growth y-o-y in 2014: +2.3%; CAGR to 2018: +3.3%
* Total mass grocery retail (MGR) sales growth y-o-y in 2014: +3.0%; CAGR to 2018: +4.4%
Key Industry Trends & Developments
Greencore Looks to Grow US Business: After reporting higher earnings for the year ended September 2014, Irish based food group Greencore said that it will accelerate investments over the coming year. Greencore also denied that it is planning an acquisition bid for Kerry Foods' frozen ready meals business. CEO Patrick Coveney suggested that any new acquisition would have to compliment the company's existing strategic focus. The company also announced the development of its first facility on the West Coast of the US, in Washington State, to boost its US food-to-go business nationally. This would enable it to deliver on...
The Ireland Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.
BMI's Ireland Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Ireland.
Key Benefits
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