Irish food and drink exports reach a record €17 billion

The value of Ireland’s food, drink and horticulture exports increased by 5pc last year to a record €17 billion, according to Bord Bia’s Export Performance and Prospects Report for 2024/25, published today.

Higher pricing was the primary driver of growth in 2024, as cost pressures and inflation continued to affect businesses and consumers.

However, several categories recorded volume, as well as value growth, most notably within seafood, prepared consumer foods (PCF), and meat and livestock.

The figures show that while exports to the EU increased, the UK remains Ireland’s largest export market.

The value of Irish dairy exports, which is the largest category of food exports, remained stable at €6.3 billion, despite weather conditions throughout the year affecting grass-growth.

Total meat and livestock exports increased by 6pc to €4.3 billion driven by higher volumes and values across beef, pigmeat and livestock.

The value of drink exports grew by 19pc to just over €2.1 billion, with ‘ready-to-drink’ (RTD) beverages achieving a threefold increase year-on-year to €235 million.

Exports in the prepared consumer foods (PCF) sector were worth €3.4 billion, which was an increase of 7pc, while seafood exports recorded a 9pc increase to approximately €595 million. Exports of cereals and horticulture increased by 4pc in value to a total of €325 million in 2024.

According to Bord Bia’s CEO Sentiment Survey, the most Irish food and drink exporters remain optimistic about achieving growth in 2025. Confidence is particularly strong in the European and UK markets, with over two-thirds of respondents anticipating opportunities for expansion in these regions.

However, global trade concerns remain as more than one-third of businesses also expressed concerns that their competitiveness could decline in the next 12 months. Key risks to competitiveness cited include rising labour costs, sustained cost inflation, difficulties in accessing raw materials, and geopolitical tensions, such as the looming threat of tariffs.

Destinations

Exports to the EU increased by 4pc and were worth almost €5.9 billion. The EU now accounts for 35pc of all Irish food, drink and horticulture exports, back from a 36pc share in 2023. France, Germany and Belgium accounted for nearly 40pc of total exports, with value increases recorded of 5pc,12pc and 12pc respectively.

The UK continues to be the largest single market for Irish food, drink and horticulture exports, with value up 7pc to €5.9 billion. The total share of exports for the UK in 2024 is estimated to be almost 35pc, however, this remains lower than pre-Brexit trading, highlighting how Irish exporters have sought to diversify their exports to other markets. Despite the UK market seeing inflation ease, cost of living challenges remain, and the announcement of a landmark tax raising budget could pose challenges for consumers and businesses.

The value of trade to international markets increased by almost 5pc in 2024 to €5.2 billion. This increase was primarily driven by a rise in trade with North America of 14pc to approximately €2 billion. Performance in Asia was mixed, with dairy exports declining by 12pc in value terms, and exports of pigmeat to China continuing to face challenges, falling below €100 million. Exports to Africa increased to €950 million, up 10pc on 2023 levels.

Sector Highlights

Irish dairy exports were in line with 2023 values, as almost 1.6 million tonnes of product, worth €6.3 billion, was shipped to approximately 140 markets worldwide. Declines in the value of skim milk powder (SMP), whole milk powder (WMP), milk protein concentrate, and milk and cream were offset by an increase in the value of butter exports.

The value of meat and livestock exports increased by 6pc to €4.3 billion. Increases in the value of beef (€2.8 billion), pigmeat (€490 million) and live trade (€340 million) were driven by higher volumes and higher unit prices. Sheepmeat and poultry achieved higher unit prices, however overall volumes declined by 23pc and 4pc respectively.

Exports for Irish cereals and horticulture increased by 4pc in value and volume terms year-on-year to €325 million. Mushroom exports, which account for half of horticulture exports, increased by 7pc, while cereal exports were valued at €90 million, a decline of 7pc compared to 2023.

Reporting on:independent.ie