Irish Whiskey’s Global Market Share to Rise by 300% by 2030
The Irish Whiskey Association has launched its ‘Vision for Irish Whiskey’, which sets out the industry’s ambition for the future and outlines a strategy to ensure continued growth in the sector. There are 26 new or proposed distilleries across Ireland and annual exports of Irish whiskey are now valued at over €300 million, up 220% since 2003.
The Irish Whiskey Strategy document is based on a comprehensive survey of the sector and outlines the sector’s ambitions:
* To grow global market share by 300% by 2030: from 4% to 12%
* To grow exports from 6.5m 9-litre cases to 12m 9-litre cases by 2020
* To double exports again to 24m 9-litre cases by 2030
* Grow whiskey tourism from 600,000 visitors to 800,000 in the medium term
* Increase employment by 30%, from 5000 direct and indirect jobs to 6500 by 2025
* Invest over €1 billion between 2010 and 2025
* Increase production by 41% over the same period.
In order to meet ambitious growth prospects the Vision for Irish Whiskey outlines five key pillars that will support sustainable growth:
- Adequately resourced infrastructure: including financial support for new entrants and adequate malting capacity
- Category integrity and promotion: including clear guidelines on the production of Irish whiskey and the promotion of geographic indication (GI) status
- Sustainable supply and demand: additional capacity to support market growth
- Vibrant tourism offering: an all-island approach to tourism, including the Irish whiskey trail
- Strong home market: creating a sense of pride in the industry at home and abroad.
Bernard Walsh, founder of Walsh Whiskey Distillery and Chairman of the Irish Whiskey Association, says: “The Irish whiskey sector is ambitious for its future. The existing players have driven the global renaissance in Irish whiskey with double-digit growth prospects. The key to our success is to ensure that this growth is sustainable: economically and environmentally. To do this, we are launching a cohesive strategy that will underpin this growth. The potential is massive. If we look at our neighbours in Scotland, we see the world-leading Scotch industry exporting over 90 million 9-litre cases annually. There are over 130 Scottish distilleries that bring investment and employment into rural areas. There is no reason why Ireland cannot achieve similar success.”
