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News
Canada identified as key market for growth of Irish spirits
The Irish Spirits Association (ISO) has identified Canada as one of the top five target markets for future export growth, following the implementation of the Comprehensive Economic and Trade Agreement (CETA).
Canada has been identified as one of they key markets for future export growth of Irish spirits
In April this year, the ISO will publish its first Irish Gin Strategy, naming Canada as one of the key markets.
According to the Central Statistics Office, figures for the first 10 months of 2017 show that value exports to Canada increased by 20.5%. However, only 6% of Irish whiskey currently on sale in the country is on the premium end of the price spectrum.
Irish cream liqueur and Irish gin producers are currently taking part in a trade mission to Ontario, Canada, to increase the Ireland-Canada trade.
The trade mission follows the recent CETA trade deal between the EU and Canada, which aims to increase trade in goods and services and boost investment, and was approved by the European Parliament back in February.
Under the terms of the CETA deal, most tariffs will be removed and more geographical indications will be recognised.
William Lavelle, head of the Irish Spirits & Whiskey Associations, said: “The CETA deal has eliminated tariffs and opened up new opportunities for Ireland’s spirits industry in Canada, which has a large Irish diaspora population.
“Irish cream liqueur and Irish gin producers have identified Canada as key target markets for future export growth.
“Irish whiskey is already seeing double-digit export growth to Canada. We see the potential for premium, authentic Irish whiskey brands to prosper in the Canadian market. Irish whiskey remains the fastest growing spirits category in the world. The Irish whiskey industry has a global ambition of driving further growth in more markets and Canada is a key target.”
Exports of Irish gin are expected to “grow significantly” in 2018, while a number of new Irish whiskey brands will hit the market, according to the Alcohol Beverage Federation of Ireland.
The Spirits Business has previously explored how Brexit will affect the Irish spirits industry.