Author: avid-partners

Are there new opportunities in the marketplace that an existing food company can diversify into?

 

      As markets change and consumers develop new behaviours there are always going to be new opportunities in the sector. For example the main opportunity in the dairy sector is the upcoming abolition of the milk quota. As a result expansion is the buzzword for many diary producers and many have made significant investments in infrastructure upgrades with that in mind. Other areas of the export market where Irish firms have made a big impact include infant formula and sports nutrition, both growth industries internationally. Organic foods is still a very trending industry with significant add on value potential and from the drinks perspective the expanding sub sector of craft beers has been an emerging trend taking many by surprise by its success (Porterhouse, O Hara’s, etc). New entrants should have a focus on adding value in their offerings as low competitive costs can be difficult to achieve when operating in the Irish market. Exporting is a key for food and beverage companies and reaching economies of scale will be important milestones as the Irish sector is dominated by a large number of small companies and a very small number of large companies with plenty of space available in the middle ground.

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