New Food market report from Business Monitor International: "Ireland Food & Drink Report Q3 2013"

Boston, MA -- (SBWire) -- 08/08/2013 --We reiterate our gloomy outlook for the Irish economy in 2013 and 2014. Subdued private consumption, stagnating external demand and the government's fiscal austerity drive are likely to prevent a robust economic recovery over the next few quarters. This will continue to have negative implications for consumer spending on food and drink.

Headline Industry Data (local currency)

- 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

View Full Report Details and Table of Contents

Glanbia Looks To Chinese Market: In May 2013, Irish food group Glanbia confirmed that it is working with Bright Food to investigate potential ventures in the Chinese market. The two companies have signed a memorandum of understanding to look into possible partnerships. Reports in the Irish press have suggested that Glanbia will sell its domestic milk brand Avonmore in China through an agreement with Bright Food. There are plans to jointly develop products and technology and then possible co-investment.

Diageo Committed To Ireland Despite Possible Alcohol Sponsorship Ban: In June 2013, drinks giant Diageo clarified that the company remains 'committed to Ireland' after local officials warned that the business would cut investment in the country if a proposed alcohol sponsorship and advertising ban go ahead. Diageo is currently spending EUR153mn on new plant at the company's headquarters in Dublin's St James's Gate.

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