Bord Bia: Ireland’s drinks industry fuelling export growth
Exponential growth in Ireland's drinks industry exports is expected to continue into the next decade, according to Bord Bia
13 January 2016 | 0
Bord Bia has released its figures related to the drinks industry in 2015, showing strong growth in exports. The sector saw a 10% year-on-ye ar increase, making it the strongest performer of the year.
Bord Bia’s report suggests the reasons for this strong performance include favourable exchange rates, growth in whiskey demand and strong demand from both emerging and existing markets, including the USA, Africa and Asia.
ABFI director Ross MacMathuna called the Irish drinks industry a “powerhouse, wholly committed to making a valuable contribution to Ireland’s ongoing agri-food sector.
“Irish Whiskey exports have recorded a fourfold increase over the last decade,” he said, “to make it the fastest-growing global spirits category. A further €1.1bn investment is expected by 2025.”
Irish whiskey exports are expected to double by 2020, and to double again by 2030. Such exponential growth may sound like wishful thinking, but it’s more than plausible when we note that exports have already grown by 220% since 2003.
“The brewing sector will also have a huge role to play,” Ross MacMathuna said, “with beer production remaining the most important sector within the drinks industry in terms of indigenous manufacturing. Exports in that sector are up seven per cent since 2012 and direct employment now stands at almost 2,000, up from 1,500 in 2012.”