Agri-food companies must be responsive to ever changing consumer trends
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In 2016 Irish food and drink exports were valued at €11.5 billion representing a seventh successive year of growth with the more dynamic sub-sectors of prepared foods, beverages and dairy product and ingredients reporting the strongest growth.
Access to emerging markets such as China and the rest of Asia present the sector with a positive outlook amidst a backdrop of market volatility. The uncertainty surrounding Brexit and currency volatility resulted in a reduction in the value of trade with our nearest neighbours by 8% in 2016. The US accounted for almost 10% of total agri-food exports in 2016. Growth in this market is reliant on a stable trading relationship between the EU and the new US administration.
Initiatives launched by Bord Bia like the Origin Green sustainability programme and the Centre for Consumer Innovation enable the Irish agri-food industry to align itself with the targets of Food Wise 2025 both from a sustainability perspective and more importantly satisfy changing consumer trends.
Why Grant Thornton?
At Grant Thornton, we have the expertise to assist your business with:
- budgeting, forecasting and business planning;
- expanding and selling the business;
- commercial and strategic intelligence;
- financial and organisational transformation;
- operation excellence;
- global expansion; and
- business risk services and regulation.
In Ireland we work with over 200 agri-food businesses across the entire value chain. Our clients include Keelings, Danone, Valeo Foods, Progressive Genetics, The Cooney Furlong Grain Company and Teagasc to name a few.