The Specialist Food Market

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FoodAlert - Capturing Key Trends in the Global Food and Drinks Market

The Specialist Food Market

Article Date: 02/06/2017 

 

Market

Miriam Tuomey, Food & Beverage Division, Bord Bia – Irish Food Board

A report by Mintel June 2015 says Artisan food is more likely to be made by smaller-scale producers, often with local ingredients and by hand – this appeals to a large section of consumers who want to support local companies, and those who prefer to buy food with natural production. Thus, for consumers to be willing to spend more on these products, producers need to offer more information on the ingredients used, cooking/ production methods, etc: in other words give their food a story that can help to convey value. The Warc case study on the success of the SuperValu food Academy programme also underlines this point.

The Bord Bia report into Local food has revealed that two thirds of Irish consumers believe it is important purchase local food. Irish people claim to buy local food at least once a week and 1 in 3 consumers say they are purchasing more today than they did 12 months ago. Two thirds of Irish consumers believe it is important to purchase local food. Two thirds of consumers perceive local food to be of high quality with natural and 100% ingredients, rendering it better quality than mass produced food.

The research highlighted that there are a number of different meanings and associations with local food. Some 3 in 4 consumers understand it to be food made, produced and sourced within their local area, compared to a similar study in 2010 where there was more focus on the producer behind the product.

Nearly 4 in 5 of people believe that they are supporting the community when purchasing local foods. 3 in 4 believe that this food is fresher having been produced locally. Further associations with scale mean that local food is often thought of on a smaller scale with homemade associations and not mass produced.

The market

Mintel value the island of Ireland market for food specialist in 2016 to reach approximately €706 million; having grown by 3.7% between 2015 and 2016.

Forecast

Between 2016 and 2021, Mintel estimated that the value of the IoI food specialist market will grow by approximately 10%. Within RoI alone, growth is expected to reach 13%; due to stronger economic recovery within the region in comparison to NI.

The Food market at Bloom presents a great opportunity for Irish companies with a turnover under €3.5 million. Some are Artisan and craft producers, others are smaller producers. This year the Food market hosted 69 companies, over twenty of which are new to Bloom, some returning to Bloom after an absence and others celebrating their 11th year there. It offers consumers the opportunity to engage with these producers and sample excellent produce.

For more information contact miriam.tuomey@bordbia.ie.



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