New Market Report Now Available: Ireland Food & Drink Report Q1 2013

New Food research report from Business Monitor International is now available from Fast Market Research

by Bill Thompson

(WireNews+Co) - Boston, MA - 18 February 2013

BMI View: Ireland's economy is showing some tentative signs of recovery, with GDP growth forecast to return to positive territory from 2013 onwards. However, the painful internal devaluation that the Irish economy is undergoing will continue in the medium term, ensuring conditions continue to feel recessionary for most Irish citizens. This in turn has negative implications for consumer spending on food and drink.

Headline Industry Data (local currency)

- 2013 per capita food consumption +0.5%; 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 +12.3%
- 2013 mass grocery retail sales +3.8%; forecast to 2017 +21.2%

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/536470_ireland_food_drink_report_q1_2013.aspx?afid=201) (http://www.fastmr.com/prod/536470_ireland_food_drink_report_q1_2013.aspx?afid=201)

Key Industry Trends & Developments

Food Sector to Boost Economic Growth: In autumn 2012 the Irish government revealed plans to substantially increase sustainable food production and exports. Minister of Agriculture Simon Coveney announced that agriculture will be a central industry for sustainable growth in Ireland over the next 10-50 years. At the same time, Prime Minister Enda Kenny said that the country's food and drink sector is playing a vital role in driving the economic growth of the country, generating export revenues of more than EUR8bn in 2011. According to Kenny, Ireland will increase its food production to feed 15mn people by 2020.

C&C Expands Reach Further: In late 2012, Irish drinks group C&C acquired US craft cider maker Vermont Hard Cider for EUR230mn, giving the group a 48% share of the fast-growing American cider market. The company also announced that it had agreed to buy Irish drinks supplier and distributor Gleeson Group in a deal worth EUR58mn. According to officials at C&C, the acquisition has the potential to transform the existing Irish business through the addition of an extensive distribution network and the creation of an attractive, multi-beverage-brand platform.

Key Risks To Outlook

The main risks to our outlook stem from Ireland's high public and private debt levels and the potential for a dramatic deterioration of the European sovereign debt crisis. While we have taken into account weak external demand and a deleveraging single currency, the country's sensitivity to external demand means that a further worsening of the eurozone crisis could see a return to negative GDP growth in 2013. In this scenario, reduced domestic and external demand could put pressure on the country's ability to adhere to the stringent fiscal conditions imposed by the EU/IMF.

Fast Market Research (http://www.fastmr.com?afid=201) is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget.  For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.