Fast Market Research recommends "Ireland Food & Drink Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 06/05/2013 -- While we expect the Irish economy to return to growth in 2013, we caution that the country's economic growth story remains gloomy, and we forecast 0.4% real GDP growth in 2013, and 1.4% growth in 2014. As high unemployment and falling disposable incomes will prevent consumers from significantly driving GDP growth over the next few quarters, we forecast private consumption to grow by only 0.5% in 2013. This will continue to have negative implications for consumer spending on food and drink.
Headline Industry Data (local currency)
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- 2013 per capita food consumption +0.5%; five-year forecast to 2017 +5.6%
- 2013 alcoholic drink sales +1.5%; forecast to 2017 +10.5%
- 2013 soft drink sales +1.6%; forecast to 2017 +12.2%
- 2013 mass grocery retail sales +3.8%; forecast to 2017 +21.2%
Key Industry Trends & Developments
Irish Food And Drink Exports Reach EUR9bn In 2012: According to figures released in early 2013 by Irish semi-state company Bord Bia, Ireland's food and drink exports exceeded the EUR9bn (US$12.03bn) mark for the first time in 2012. The top performing categories in the sector were meat and livestock, beverages and seafood. The figures also revealed that food and drink exports from Ireland to Asia have jumped 75% since 2010.
Drinks Sector Generates Average Sales Of US$3.7bn: In early 2013, the Drinks Industry Group of Ireland released a new report showing that the Irish drinks sector generates US$3.7bn annually. The sector accounts for 64,000 jobs in the country and contributes nearly US$1.3bn in exports while also working as a significant purchaser of inputs in manufacturing and retail.
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