New Food research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/28/2015 -- 2013 represented a second year of emerging recovery within full-service restaurants and in the economic landscape in Ireland in general. In an effort to continue to support the tourism and services industries, the Irish government chose to retain the second special VAT rate of 9% for an indefinite period. The retention was much supported and welcomed by all those engaged in the industry. However, there was caution also on two fronts. Firstly, there were concerns that whilst the government had not put a finishing date on retention of the VAT rate that, in fact, left the door open for it to be concluded at any point in time, making for more planning uncertainties and adding to the difficulties already faced by restaurateurs. Secondly, whilst VAT remained at 9%, excise duties were once again increased. The previous year saw excise duty on alcohol grow by 41% and budget announcements in 2013 added a further increase of 50 cents onto a 75cl bottle of wine, directly impacting restaurants where wine continues to be the most ordered alcoholic drinks product.
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In an extremely fragmented category dominated by independents, FXB Restaurants is the leading player with 1% value share in 2013. Within chained full-service restaurants, this is representative of 20% value share. The chain is made up of five outlets located throughout the greater Dublin area and has been a favourite amongst Dubliners for many years with the name originating from FX Buckley Victualler, located in Dublin?s iconic market area of Moore Street since 1930.
Full-service restaurants is expected to see a value CAGR of 1% at constant 2013 prices, over the forecast period to 2018. Whilst economic recovery is now well in place, with improvements in consumer sentiment, non-essential and luxury spending is likely to remain restrained for the duration of the period. Furthermore, value is likely to remain a key consideration for many, with the demand for value deals including early bird offerings and ?3 courses for the price of 2?, remaining very high. Additionally despite declines during the recession, outlet numbers remain high, impacting profitability and sustainability.
Discover the latest market trends and uncover sources of future market growth for the Full-Service Restaurants industry in Ireland with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Full-Service Restaurants industry in Ireland, our research will save you time and money while empowering you to make informed, profitable decisions.
The Full-Service Restaurants in Ireland market research report includes:
- Analysis of key supply-side and demand trends
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Full-Service Restaurants in Ireland?
- What are the major brands in Ireland?
- What cuisine type (Latin American, Asian, North American etc.) is most popular in full-service restaurants in Ireland?
- How prevalent is casual dining in Ireland and how is this category expected to grow over the next five years?
- How fragmented is the full-service restaurant industry in Ireland?
Reasons to Get this Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
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