Foreign Growth key for Food and Beverage Industry in Ireland

Just over half of food and beverage companies in Ireland have seen improvements in the export market in the last twelve months.

The United Kingdom, the rest of Europe and China have been named as the top three geographic areas.

The findings, which are part of the Deloitte Food and Beverage Survey 2012, contrasts with 72% who did not observe any improvement within the Irish market for the same period.

The survey found the biggest challenges facing food and beverage companies in Ireland include the high cost of doing business, as identified by 28% of respondents, consumer demand (21%) and consumer price sensitivity (20%).

David Hearn, Head of Consulting, Deloitte and speaker at the event commented: “Irish food and beverage companies are still facing a very challenging market in Ireland but it’s extremely encouraging that companies are seeing growth in overseas markets.”

“What’s also extremely promising is that despite the challenging marketplace, 95% of respondents stated that they are continuing to invest in their business. The main areas of focus for this investment include improving efficiency, sales and marketing, people, R&D and expanding overseas. This investment will be critical to ensure that companies are well positioned to take advantage of the opportunities that international markets offer, in addition to those here in the Irish market.”