Irish food and drink manufacturers still well-positioned says Bord Bia
The food and drinks sector development body believes Irish companies are still well-placed to grow in the current market climate
9 January 2009
Recently at its eighth annual Food and Drinks Industry Day, Bord Bia assured attendees of its confidence in Ireland’s food and beverage sector.
The agency affirmed the industry’s ability to withstand the current challenges and respond to the demands of the market.
Chief executive, Aidan Cotter acknowledged the sector is facing difficulties, however.
But he said he believes the industry can secure success through its capacity to exploit its strong consumer connections and the affinity of Irish consumers for quality Irish brands.
"Competition between mainstream and discount retailers, a weak sterling, high cost base and the credit crunch are combining with a significant shift in shopping behaviour to create new challenges for Irish food and drink companies.
The industry, whose exports last year amounted to over €8.6 billion, is facing similar challenges overseas, particularly in the UK market. Competing successfully in this very challenging domestic market environment is therefore very much a critical precondition for the success of Irish food and drink manufacturers overseas," he commented.
At the event, senior business analyst at Bord Bia, Helen King presented findings from a new Bord Bia study ‘Understanding Consumer Motivations’, regarding the psychological motivations for food and drink consumption.
The report found that consumers in Ireland are led by specific factors, such as time management, family dynamics and cultural aspirations, which in turn lead them to specific choices in their food shopping habits. The study aims develop a deeper understanding of Irish consumer motivations for engaging with and purchasing products and brands.