SLÁINTE TO IRISH WHISKEY

Irish whiskey makers have plenty to raise a glass to these days. The category continues to experience steady growth globally, thanks to new international markets, a heightened focus on luxury, and the category’s ability to innovate. In 2022, the value of Irish whiskey exports surpassed $1.07 billion for the first time, according to the Irish Whiskey Association, and forecasts suggest further acceleration. In 2023, 12.9 million nine-liter cases were sold, representing a 3.22% increase from the previous year, data from Euromonitor International shows. A projection of 13.4 million cases for 2024 would mean an increase of 3.68%.

For Irish Distillers, Jameson continues to lead the charge, up by 10% in net sales in fiscal 2023, and now a top-three-selling international whiskey brand, and top 10 international spirit brand, according to IWSR Drinks Market Analysis. This was supported by 56% growth in Asia. Redbreast, Midleton Very Rare, Spot Whiskeys, Method and Madness, and Knappogue Castle, which comprise Irish Distillers’ prestige portfolio, were up by 22% in net sales growth for fiscal 2023. Overall, Irish Distillers experienced an 11% net sales growth in its portfolio. Other brands are likewise achieving landmark sales and growth. In June, Bushmills surpassed one million cases for the first time, reporting a 9.7% rise in 2022. Meanwhile, Waterford Distillery secured a $47.8 million funding package to expand globally, with a focus on the US.

Since 2003, high-end premium and super-premium Irish whiskey in the US grew by 1,053% and 2,779% respectively (Distilled Spirits Council of the US data). It is worth noting that historically Irish whiskey has underperformed at this level when compared with its Scotch competitors but in recent years this has changed considerably, with the launch of new and very rare whiskeys. While growth for the category was positive, 2023 saw only three distillery openings in Ireland: Titanic in Belfast, and Ahascragh Distillery in Galway, while Bushmills opened a new Causeway Distillery, doubling existing capacity. But celebrity-backed brands became more prominent: Conor McGregor’s Proper No. Twelve added an apple-flavored expression, and actor Liev Schriber’s Slainté entered seven new states, while actor Jean-Claude Van Damme launched Old Oak in October.