Key Market Indicators
Iceland's alcoholic drink consumption is projected to rise from 1,000 metric tons in 2023 to approximately 1,300 metric tons by 2028. This represents an average annual growth rate of 3.5%. Notably, the demand has remained steady since 2021. In 2023, Iceland ranked 109th globally in alcoholic drink consumption, with Djibouti slightly ahead at the same level. India, Japan, and Russia occupied the second, third, and fourth positions, respectively. On the export front, Iceland's alcoholic drink exports are expected to increase from $27 million in 2023 to over $32 million by 2028. This marks an average annual growth rate of 2.8%. Since 1993, Iceland's supply of alcoholic drinks for export has grown by an average of 4.8% per year.
