Ireland: Whisky Market 2024

Whisky Market Size in Ireland

The Irish whisky market reduced to $X in 2022, with a decrease of -9% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Whisky Production in Ireland

In value terms, whisky production shrank modestly to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The growth pace was the most rapid in 2013 with an increase of 26%. Whisky production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Whisky Exports

Exports from Ireland

Whisky exports from Ireland reached X litres in 2022, growing by 6% on the previous year. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.5% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, whisky exports rose remarkably to $X in 2022. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X litres) was the main destination for whisky exports from Ireland, with a 38% share of total exports. Moreover, whisky exports to the United States exceeded the volume sent to the second major destination, the UK (X litres), sixfold. The third position in this ranking was held by Latvia (X litres), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+8.7% per year) and Latvia (+3.3% per year).

It was followed by South Africa, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+11.2% per year) and South Africa (+18.4% per year).

Export Prices by Country

The average whisky export price stood at $X per litre in 2022, remaining relatively unchanged against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, whisky export price decreased by -8.3% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 34%. As a result, the export price reached the peak level of $X per litre. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per litre), while the average price for exports to India ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Whisky Imports

Imports into Ireland

Whisky imports into Ireland surged to X litres in 2022, growing by 84% on the year before. In general, imports posted a perceptible increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, whisky imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the UK (X litres) constituted the largest whisky supplier to Ireland, accounting for a 85% share of total imports. Moreover, whisky imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X litres), more than tenfold. Spain (X litres) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.7% per year) and Spain (+193.3% per year).

In value terms, the UK ($X) constituted the largest supplier of whisky to Ireland, comprising 68% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Spain, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from the UK was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.1% per year) and Spain (+163.6% per year).

Import Prices by Country

The average whisky import price stood at $X per litre in 2022, waning by -22.7% against the previous year. Overall, the import price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2013 an increase of 37% against the previous year. The import price peaked at $X per litre in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for France ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :