Ireland’s drink industry could grow exports to more than €2 billion over the next 15 years and create an additional 13,000 jobs across the country, according to a new study.
The report warns however that potential growth could be harmed by high taxes and regulatory costs, which it says places Irish-based businesses at a significant disadvantage to other countries.
The study notes that excise and VAT taxes on alcohol are the second highest in the European Union.
The recent Foodwise 2025 strategic plan launched by the government aims to increase overall exports by 85 per cent to €19 billion and create 23,000 additional jobs.
The study shows that the sector employs approximately 92,000 people, many of which are in rural areas. Exports currently total around €1 billion with Irish products being shipped to over 125 markets worldwide.