Core Insights - The value of Irish whiskey exports fell by 5% in 2025, totaling €930 million ($1.1 billion), primarily due to a challenging trading environment in the US [1] - The overall value of Irish food, drink, and horticulture exports grew by 12% to €19 billion, marking a significant performance despite market volatility [6] Group 1: Irish Whiskey Market - Irish whiskey exports accounted for 45% of total drinks shipments from Ireland [1] - The US market saw a 5% decline in Irish whiskey exports, influenced by stockpiling in anticipation of tariffs and a 12% devaluation of the US dollar [2] - In the EU, Germany was the largest market for Irish whiskey, with stable exports to France and a slight dip in sales to Poland and the UK [3] Group 2: Other Spirits and Alcoholic Beverages - Exports of Irish gin decreased by 14% in value as markets rationalized brand offerings [3] - Both gin and whiskey faced challenges due to US trading uncertainties and a slowdown in premiumisation driven by consumer spending pressures [4] - Irish cream liqueurs saw a 10% increase in exports to €430 million, benefiting from premiumisation trends in the UK and North America [4] Group 3: Irish Beer Exports - The value of Irish beer exports increased by 7% to approximately €350 million, with a 14% decline in exports to the UK and a 21% increase to EU markets [5] - France emerged as the largest market for Irish beer products in value terms [5] Group 4: Overall Export Performance - Total Irish drinks exports value increased by 2% in 2025 to €2 billion, with the EU, UK, and US comprising 81% of the exports [5] - Bord Bia anticipates a transitional year for drinks in 2026, with positive indicators in the US suggesting improved market sellout rates and lower inventories [6]

Core Insights - US spirits sales experienced a decline in October, with volumes down 0.8% year-over-year to 5.2 million nine-litre cases and dollar sales decreasing by 2.1% to $1.14 billion [1] - Over the 12-month period ending in October, total volumes fell by 1.1% to 60.7 million nine-litre cases, while sales by value decreased by 2.2% to $13.34 billion [1] Volume and Dollar Sales Trends - Specific categories such as cachaca, cocktails, cordials, Irish whiskey, and Tequila saw volume sales increases in October, with Irish whiskey up 1.9% to 81,651 nine-litre cases and Tequila up 2.2% to 597,216 nine-litre cases [2] - Despite the volume increases, dollar sales for Irish whiskey and Tequila fell, with Irish whiskey down 0.7% to $28.1 million and Tequila down 1.4% to $209.9 million [3] - Cocktails and Tequila were the only categories to see sales rise in both value and volume over the 12-month period, while all other product areas experienced declines [3] On-Premise Sales Performance - Nearly all 18 control states monitored by NABCA reported declines in spirits sales, although there was a slight increase in on-premise sales volumes, which grew by 0.6% to 823,268 nine-litre cases across 14 states [4] - On-premise sales volumes were still down 1.6% in dollar terms, totaling around $200 million, and showed declines on a 12-month rolling basis of 0.8% in volume and 2.5% in dollar sales [4]

Core Insights - The competition in the aged spirits market in India is intensifying, with Indian single malts outselling Scotch in volume terms in 2024, indicating a shift in consumer preferences towards premium domestic products [1][3]. Group 1: Market Dynamics - The Indian market is becoming increasingly affluent and diverse, with consumers showing interest in a variety of spirits, including Irish whiskey, agave, and Scotch, rather than just upgrading from Indian Made Foreign Liquor (IMFL) to Scotch [2][3]. - The free trade agreement (FTA) between the UK and India is expected to significantly reduce import tariffs on Scotch whisky, from 150% to 75% immediately and down to 40% over the next decade, which is seen as a positive development for Scotch whisky sales in India [3][4]. - Irish whiskey exports to India have more than doubled in value last year, highlighting the rapid growth of this category in a market that is becoming increasingly competitive [7]. Group 2: Brand Performance - Jameson is currently the leading brand in the Indian market, with a significant presence and sales volume, making it the best-selling bottled-in-origin spirit in India [4]. - The Irish whiskey industry has grown to more than double its size over the past decade, but it still lacks the maturity of a truly global category, with the US accounting for 40% of its export value [5][6]. Group 3: Scotch Whisky Challenges - Scotch whisky is facing challenges in the US market, where export shipments were flat last year and down over 9% compared to pre-COVID levels, indicating potential difficulties ahead [8][9]. - The single malt segment of Scotch whisky has seen a decline, with a 17% drop in global shipment value in 2024, while blended Scotch has managed a 4.4% increase, suggesting a shift in consumer preferences [11][12]. - The rising prices of aged single malts may be pricing them out of the market, as evidenced by a significant increase in median prices over the past five years [12][13]. Group 4: Strategic Recommendations - There is a need for a more rational pricing strategy for aged single malts and a concerted effort to reframe blended Scotch as a high-quality product, rather than relying solely on celebrity endorsements for marketing [13][14]. - Both Irish and Scotch whisky categories face similar challenges in adapting to a changing market landscape, but there are still lucrative opportunities for those who implement effective strategies [15].

Industry Challenges - Tariffs are negatively impacting the Irish whiskey sector [1] - The Irish whiskey sector is facing oversupply issues [1] - US demand for Irish whiskey is faltering [1] - The Irish whiskey sector is experiencing soaring costs for energy and labor [1]