This week our Irish Whiskey News features articles on why Brexit could be bad for the Irish Drinks industry and how Irish whiskey producers have their sights set on the eastern whiskey market.
So let’s see what’s been happening this week in our Irish whiskey news.
Ireland’s drinks industry continues to prosper. It is one of the country’s most dynamic sectors, driven by innovation and growing demand in export markets.
It’s an industry that continues to make a vital contribution to the country’s economy, employing 90,000 people and exporting more than €1.25bn worth of produce. Since 2001, the average per adult alcohol consumption in Ireland has declined by over 23%.
Despite a continued fall in consumption here, consumers are becoming more sophisticated in their tastes and are eager to try the plethora of new, quality products on the market. After a strong 2018, we head into 2019 with many uncertainties for the industry.
Rival Irish whiskey producers are teaming up in a bid to seek European Union funding to carve out new multimillion-euro opportunities for growth in China and Japan. The move comes as suppliers look to ease their dependence on the US for exports. The whiskey producers have sought assistance from Bord Bia to help tap markets in Asia, where Irish brown spirits are currently small players.
Bord Bia recently issued a tender notice to carry out a study on awareness and attitudes to Irish whiskey in China and has plans to do a similar piece of research on the Japanese market in the New Year. Denise Murphy, alcohol beverage sector manager at Bord Bia, said the China study was a precursor to seeking EU funds for a full market development exercise for the sector in China and Japan.
Exports to China are currently valued at less than €1 million but while knowledge of Irish whiskey is low, the country is seen as a market that has significant potential for producers. Japan, which is the largest market in Asia for Irish whiskey, grew by 15.6 per cent last year, albeit from a low base.
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