The morning goods market is expected to grow 2.7%, as retailers are advised to capitalise on the convenience food trend.
According to Canadean, research has shown that the category, which includes ready-to-eat baked products such as croissants, pancakes and toaster pastries, will be in compound growth over the next five years.
The intelligence company also said that one in five Irish consumers was skipping lunch almost every day.
Kirsty Nolan, analyst with Canadean, said: “Nowadays, many busy employees who feel under pressure to meet their work commitments grab a quick bite at their desk, if anything at all.
“Even though this might initially sound like bad news, shorter lunch breaks actually present a huge opportunity for FMCG manufacturers to target busy consumers with convenient, fast and exciting options.”
The survey revealed that six out of 10 consumers in Ireland agreed that convenient food can also be tasty.
Nolan continued: “These results abolish some barriers that used to stand in the way of convenience food. The strategy to reignite the lunchtime might lie in offering consumers a moment of comfort and relaxation with a fast and appetising lunch option.”