Ireland’s food and drink export value increased by 5% last year to a record €17 billion, according to Bord Bia’s Export Performance and Prospects Report for 2024/2025, which has been published today (Wednesday, January 8).

Bord Bia called 2024 a "milestone year" for Irish food and drink exporters, despite global trade challenges caused by geopolitical instability, fluctuating inflation, and on-going high trading costs.

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

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

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 6% to €4.3 billion, driven by higher volumes and values across beef, pigmeat and livestock.

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

The value of drink exports grew by 19% to just over €2.1 billion, with ‘ready-to-drink’ (RTD) beverages achieving a threefold increase year-on-year to €235 million. Whiskey exports increased by 13% to a value of more than €1 billion.

Exports to the EU increased by 4% in 2024 and were worth almost €5.9 billion, although the EU's share of Irish food, drink and horticulture exports is now 35%, back from a 36% share in 2023.

France, Germany and Belgium accounted for nearly 40% of total exports to the EU, with value increases recorded of 5%,12% and 12% respectively.

The UK continues to be the largest single-country market for Irish food, drink and horticulture exports, with value up 7% to €5.9 billion. The total share of exports to the UK in 2024 is estimated to be almost 35%, However, this remains lower than pre-Brexit trading.

Despite the UK market seeing inflation ease, cost of living challenges remain, and the announcement of a tax-raising budget by the government there recently could pose challenges for consumers and businesses, according to Bord Bia.

The value of trade to international markets (not including the EU and UK) increased by almost 5% in 2024 to €5.2 billion. This increase was primarily driven by a rise in trade with North America of 14% to approximately €2 billion.

Performance in Asia was mixed however, with dairy exports declining by 12% 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 10% on 2023 levels.

Commenting on the export figures for 2025, Minister for Agriculture, Food and the Marine Charlie McConalogue said: "It is very encouraging that this annual analysis report from Bord Bia shows a hugely positive performance for the 2024 export value of Irish food and drink at €17 billion.

"This is a significant achievement, given the prevailing impact of cost inflation and market volatility. Despite these ongoing challenges, the sector time and again proves its resilience. Our food companies; farmers; fishers; and food and drink producers have, at each stage of the production cycle, contributed to the agri-food sector’s performance in 2024," Minister McConalogue added.

According to Bord Bia’s CEO Sentiment Survey, which gauges the feelings of leaders in food and drink exporting businesses, 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.

Looking at routes to market, eight in 10 respondents (82%) expect growth in the retail sector. Half the companies surveyed forecast growth in the foodservice channel, and 44% in the manufacturing sector.

Despite these ambitions for growth, 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.

Bord Bia chief executive Jim O'Toole said: "The confidence and continued ambition of the industry is clear in the results of Bord Bia’s CEO Sentiment Survey, showing that most Irish food and drink exporters remain optimistic about achieving growth in 2025, despite the business environment and operating challenges."