Irish whiskey production set to rise by 41% in 10 years
Irish whiskey production is to rise by 41% by 2025, according to the Irish Whiskey Association.
There is to be investment of over €1.1 billion by 2025 and it expects global market share to grow by 300% by 2030 from 4% to 12%.
Annual exports are now over €300m, up 220% since 2003 and the Irish Whiskey Association expects exports to double by 2020 and double again by 2030.
There is a domestic spend of €350m annually, supporting farming families across the country, it says.
The association said that with John Teeling’s new Great Northern Distillery (GND) in Dundalk now distilling, it is “another sign of the Irish whiskey renaissance taking firm hold across the island of Ireland.”
Miriam Mooney, Head of the Irish Whiskey Association said that the news that whiskey distillation has begun at the GND is a very promising development for the growth of the Irish Whiskey sector.
“Having been distilled in Ireland since the sixth century, Irish whiskey is one of the oldest spirit drinks in Europe.
“It is a premium product that can only be made on the island of Ireland. The existing players have driven the global renaissance in Irish whiskey and now it is the fastest growing spirits category in the world.
“In the last decade, the category grew by almost 200%. Recently, the Irish Whiskey Association launched a Vision for Irish Whiskey, a strategy document which reflects the industry’s ambition for the future.
“The key to our success is to ensure that growth is sustainable: economically and environmentally,” she said.
The association has has said there are five key pillars in order to achieve sustainable growth:
- Adequately resourced infrastructure.
- Category integrity and promotion.
- Sustainable supply and demand vibrant tourism offer.
- Vibrant tourism offering.
- Strong home market.