Irish food exposed to €135bn buying power

BUYERS from Europe, the United States and Asia, with a combined purchasing power of €135 billion, were yesterday exposed to the largest ever showcase of innovation from Irish food and drink companies.

It happened at Marketplace Ireland, the Bord Bia-organised platform for Ireland’s largest indigenous industry, where the focus was on the country’s capability of converting opportunities to business.

Over 50 food companies are exhibiting at the two-day event in Croke Park, Dublin. It centres on 2,600 pre-arranged business meetings (speed-dating style), which are bringing 50 Irish companies face-to-face with 220 international buyers.

Irish food and drink companies have been behind some of Britain’s most successful retail brand launches in recent years. Marketplace Ireland is also showcasing 88 new products developed by Irish food and drink firms in a specially conceived futuristic innovation zone.Bord Bia chairman Angela Kennedy said she hoped the Irish companies could build on last year’s €8bn-plus exports.

High-value brands have driven much of the Irish food and drink industry expansion, and Ireland’s capability in pizza, meat and dairy products and frozen bakery have seen number one positions secured in numerous brand categories.