Once the most popular spirit in the world, Irish whiskey was toppled by its Scottish counterpart.

Scotch exports were valued at £4.3bn (€5.5bn) last year and it is estimated that 40 bottles of whiskey leave Scotland each second. Meanwhile, despite growth of 220% since 2003, Irish whiskey exports were well short at €365m in 2014.

However, it is hoped that the Irish Whiskey Association’s new strategy will ensure further growth in the sector. With 26 new or proposed distilleries across Ireland, Irish whiskey could be making a comeback.

The strategy document outlines plans to expand global market share by 300% by 2030, from 4% to 12%, and to grow exports from 6.5m 9-litre cases to 12m 9-litre cases by 2020. Some €1bn will be invested between 2010 and 2025 to reach these goals.

It is envisaged this growth will lead to 6,500 direct and indirect jobs by 2025.

Minister Simon Coveney said recent growth shows that the whiskey industry shows promise.

“Growth of almost 200% over a decade reflects an industry with ambition, a sense of mission and a deep understanding of individual markets," he said. "Irish whiskey brands now represent the fastest growing spirit globally."

Bernard Walsh, founder of Walsh Whiskey Distillery and chairman of the Irish Whiskey Association said Ireland has the potential to achieve the same success as Scotland.

"The potential is massive. If we look at our neighbours in Scotland, we see the world-leading Scotch industry exporting over 90 million 9-litre cases annually," he said.

"There are over 130 Scottish distilleries that bring investment and employment into rural areas. There is no reason why Ireland cannot achieve similar success."