The Business Lending Blog

The market is hungry for Irish food services

Posted on

The demand for Irish food services is growing. According to a study published by Bord Bia, the total value of the food service market in Ireland has grown to €6.13 billion. 

This figure is set to rise even further over the next few years, potentially reaching €6.5 billion in 2017.

The food service industry describes all food consumed outside of the home, including hotels, coffee shops, restaurants, pubs and vending machines.

The report stated that health and choice are important influencers for diners, but that price remains the number one factor. 38% of the national spend on food service is on take-away and food-to-go options. Fast food service is the fastest growing market, with home delivery and mobile technology (phone apps) driving the growth.

The use of social media to drive sales has been crucial for many Irish businesses operating within the food services industry, in some cases dramatically reducing their spend on marketing.

Bord Bia food service specialist, Maureen Gahan believes there is great cause for positivity about this sector, citing major opportunities for irish companies willing to invest in product innovation to meet the changing consumer demands.

Our lenders love great food businesses and they always do well on Linked Finance. Download the Cornucopia case study to see why Deirdre McCafferty chose Linked Finance when growing her business…


Topics: ,