This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 2/18/2019

Overview

There is a state monopoly on retail sale of alcoholic beverages.  In addition to selling to the government owned retailer, Vinbudin (ATVR), wholesalers sell directly to bars, restaurants and hotels.  In 2013 Vinbudin sold alcoholic beverages worth $160 million. Of those sales, 78% was beer. Icelanders’ drinking preferences have steadily changed in recent years from favoring hard liquor to a growing preference for wine and beer.  Inexpensive boxed wines are particularly popular, but economic prosperity brings an increased interest in fine wines. Another source of increased demand is the boom in tourism that has been growing double digits over the past eight years.
The purchase price of alcohol includes government taxes.  Law no. 96/1995 indicates that the tax is related to the percentage of alcohol in each liter.  All importers of alcohol must pay this fee or tax on top of customs fees.
 
 2014201520162017 (Estimated)
Total Local Production    
Total Exports    
Total Imports    
Imports from the US
 		    
Total Market Size    
Exchange Rates    
(total market size = (total local production + imports) - exports)

Leading Sub-Sectors

Wines, beers, and spirits.

Opportunities

American alcoholic beverages have lost market share in recent years; however, American wines remain popular in Iceland.  American beers, particularly micro-brewery beers, are gaining in popularity.

Web Resources

Wine and beer importers:
HOB (www.hob.is)
Karl K. Karlsson (www.karlsson.is)   
Mekka Wine and Spirits (www.mekka.is)
Ölgerðin Egill Skallagrímsson (http://www.olgerdin.is/)  
RJC (www.rjc.is)   
For a detailed list of wine and beer importers see Vinbudin’s website (http://www.vinbudin.is/heim/um_atvr/tabid-2214.aspx)
Retailers:
Vinbúðin (ÁTVR) (www.vinbud.is)
 

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