Report Published: "Ireland Food & Drink Report Q3 2014"

We continue to believe that Ireland's economic recovery will gather momentum in 2014 with the economy growing at an annual rate of 2.3 % , followed by 2.5 % the following year , driven by an improving export outlook and recovery in private consumption. Gradually easing unemployment and rising wages should support a modest increase in household disposable incomes , which we expect to have positive implications for consumer spending on food and drink.

Headline Industry Data (local currency)

* 2014 per capita food consumption +1.6%; forecast compound annual growth rate (CAGR) 2013 to 2018 +2.4%
* 2014 alcoholic drink sales +2.3%; forecast CAGR 2013 to 2018 +3.8%
* 2014 soft drink sales +3.2%; forecast CAGR 2013 to 2018 +4.2%
* 2014 mass grocery retail sales +3.0%; forecast CAGR 2013 to 2018 +4.4%

Key Industry Trends & Developments

North Cork Co-operative To Build New Milk Powder Processing Unit: In March 2014 Ireland-based North Cork Co-operative Creameries announced its plans to set up a new EUR5mn (USD6.931mn) milk powder processing plant in the Irish town of Kanturk to meet the growing consumer demand for dairy products. The new unit has capacity to process about two tonnes of spray dried milk powders in an hour. 'Through this innovative investment, North Cork has built an impressive facility making food ingredient products to the highest international quality standards,' said Ireland Agriculture, Food and Marine Minister Simon Coveney (Food Business Review).

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C&C Acquires Wallaces Express: In March 2014 Ireland-based brewery C&C Group purchased the remaining 50% stake in Scotland-based wines and spirits wholesaler Wallaces Express for an undisclosed amount. The move comes after the firm initially acquired a 50% stake in Wallaces in March 2013. Under the terms of the agreement, Wallaces Express will change its name to Wallaces TCB, which plans to offer a complete range of products across the Scottish independent on-trade. The...

The Ireland Food & Drink Report features Business Monitor International (BMI)'s market assessment and independent forecasts for food and drink expenditure, consumption, sales, and imports/exports and forecasts for the mass grocery retail sector. The report also includes analyses of major regulatory developments, the background macroeconomic outlook and competitive landscape comparing national and multinational companies by leading products and services, sales, investments, partners and expansion strategies.

BMI's Ireland Food & Drink Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the food and drink industry and the mass grocery retail market in Ireland.

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