THE Republic's food service market is estimated to be worth up to £700 million annually, according to an analysis carried out for Bord Bia and IBEC.

The market, valued at £1.6 billion on an all island basis, provides a "sustainable market opportunity", Mr Tom Steele, managing director of Newsfocus, who which prepared the analysis, said yesterday.

The recent acquisition of Quinnsworth by Tesco was one of the biggest "upheavals" facing the sector, said NewsFocus.

The report - The Food Service Sector, An All Island Profile - was presented yesterday to a seminar of more than 80 specialist food companies.