Articles on this page are written by Bord Bia staff to highlight activity and developments relevant to our clients. These can be linked with new insight, market access or activation or any of the other initiatives from Bord Bia as well as developments in the market that clients need to know about.
Premium spirit brands are reaping the rewards of the growth of the Chinese spirits sector. The sector grew from €199 billion in 2013 to €247 billion in 2018. The sector is expected to reach €306 billion by 2023, registering a CAGR of 4.8% during the five-year period (Global Data, 2019). With local and international competition intensifying, focusing on premiumisation will be a key trend for spirit brands going forward (Fitch Solutions, 2021).
Bord Bia’s readiness radar outlined Insight as the area that businesses are least prepared to deal with of all 13 areas explored. The need for support and relative lack of preparedness in this space is driven by the fact that only 16% of companies interviewed have dedicated insight resources in their business, with investment levels expected to remain relatively flat in this space in the coming year (Bord Bia, 2021).
Here at Bord Bia, we believe that third party market research can help you conduct rigorous analysis required to drive smart, strategic decision making. Not only that, it can also be used to: open your eyes to products and trends beyond your own company; seize valuable opportunities for product development and new market entry, make more prudent investments, give you the foundation you need to make other pivotal shifts in your business. (MarketResearch.com, 2018) That’s why each and every month Bord Bia’s Knowledge & Market Intelligence Team, bring you 5 must reads for competitive advantage. This month we are focusing on Dairy products research and this Insightful article will summarise 5 great reports to help you nurture a thriving future for your business.
The consumption of food close to sleeping can be problematic: eat too much, too close to bedtime and your sleep can be disrupted due to fullness; don’t eat, and your sleep is disturbed by a rumbling stomach! Consumers faced with this dilemma need natural, nutrient dense and fortified food products, which will help, not hinder sleep. ‘ Less than 1% of global food and drink launches had functional - stress and sleep claims from Nov 2019 - Oct 2020 ’ (Mintel, 2021)
Ireland has joined together with 12 other European countries in the EU co-financed 'More Green Cities for Europe’ promotional campaign. Ireland is committed to making cities more future-proof through the creation of green space and the use of ornamental plants. This business to business campaign targets politicians, urban planners, municipalities, project developers and other professionals to explain the importance of green space in the living environment. The campaign runs until the end of 2023.
Instagram has 1 billion users worldwide and reaches 2.2m people in Ireland each month ("Elevate Your Brand on Instagram", 2021). Launched in 2010 by Mike Krieger and Kevin Systrom, Instagram’s main selling point was its photo filters. Younger audiences who prefer more visual and entertaining content embraced Instagram and utilise the several platforms within Instagram. It has proven to be a key vehicle for food & drink brands, providing a platform to inspire and engage with consumers. It offers targeted marketing tactics and influences people’s shopper journeys, plus the opportunity to go direct to consumer with shop functionality.