Irish food and drink companies invest €166m in R&D as innovation takes centre stage.
Enterprise Ireland-supported food and drink companies invested more than €166 million in research and development in 2024, with 113 companies each investing over €100,000, new figures reveal.
The investment data was announced at Enterprise Ireland’s flagship Food Innovation Summit 2025 at Croke Park (18 June 2025), which brought together more than 300 food and drink companies, start-ups, researchers, investors, and policymakers to explore how innovation and technology can future-proof Ireland’s food and drink export industry.
“Ireland has the capability and global reputation to lead in sustainable, high-value food production”
The food and drink sector supports more than 60,000 high-quality jobs, accounting for 26% of Enterprise Ireland-supported employment.
Now in its third year, the Summit highlights that innovation is not only a competitive advantage, but a strategic necessity in the face of global disruption, sustainability pressures and evolving consumer expectations.
Food is part of Ireland’s global brand
“Our food and drink sector is one of the most globally recognised and respected parts of our economy,” Minister for Enterprise, Tourism and Employment, Peter Burke, TD.
“The Food Innovation Summit is about backing that reputation with investment, ambition, and vision. Innovation is the route to higher productivity, new market growth and long-term competitiveness. Government, industry and agencies all have a role to play – and the Summit is a powerful example of that collaboration in action.”
Minister for Agriculture, Food and the Marine, Martin Heydon TD added: “Irish food and drink exports continue to go from strength to strength – but the landscape is changing fast. Consumers want more transparency, more sustainability, and more innovation. Events like today’s Summit are critical in supporting our producers, processors and exporters to stay ahead of those trends and continue to thrive globally.”
This year’s programme reflects how technology is transforming the sector – from the rise of AI, precision fermentation and biotechnology, the impact of anti-obesity drugs to breakthroughs in personalised nutrition and smart manufacturing. Key themes include AI and digitalisation, sustainable product development, and innovation in health and nutrition.
“Innovation isn’t a ‘nice to have’ – it’s a strategic imperative,” said Jenny Melia, executive director and Incoming CEO, Enterprise Ireland. “The Food Innovation Summit is a platform to turn ambition into action – and to help more companies embed innovation into everything they do.”
She added: “Ireland has the capability and global reputation to lead in sustainable, high-value food production. But we must act with urgency – and continue supporting businesses to adopt new technologies, build partnerships and stay competitive on a global stage.”
The event aligns closely with Enterprise Ireland’s Strategy 2025-2029, and Food Vision 2030, which calls for privately funded R&D to reach 1% of turnover across the agri-food sector.
While global conditions remain volatile, Ireland’s food and drink industry continues to demonstrate resilience and adaptability. Strong export performance has been underpinned by a commitment to high quality and safe products, a flexible approach to change, and deep-rooted expertise across the supply chain.
Melia also highlighted the importance of collaboration across the ecosystem: “Agencies like Bord Bia, Teagasc, Bord Iascaigh Mhara, FSAI, Government departments and Ireland’s excellent third-level institutions and Food Technology Gateways and Centres all contribute enormously to the food innovation landscape. Their continued engagement is critical to success.”
Enterprise Ireland also plays a key role in supporting Food and Drink Foreign Direct Investment (FDI), helping international firms identify opportunities, build strategic partnerships, and connect with Ireland’s world-class research infrastructure.
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