Scottish food and drink is celebrated around the world.

We’re no longer languishing as the punchline of endless jokes about deep fried chocolate bars and haggis, and 2025 has seen the country cement its spot on the food and drink map.

For the first time in its history, the prestigious MICHELIN Guide Great Britain & Ireland awards ceremony was held in Scotland, marking a major milestone for the country’s culinary scene.

Hosted at Glasgow’s Kelvingrove Art Gallery & Museum, the event brought some of the world’s top chefs to the city and underscored Scotland’s growing reputation as a global food and drink destination.

This momentum is backed by research from The Knowledge Bank (part of Scotland Food & Drink), which found that nearly two thirds of consumers are more likely to choose products labelled as Scottish when dining out.

The MICHELIN ceremony follows on from Edinburgh being crowned as the Most Exciting Food Destination at the Good Food Guide Awards 2025, with the capital celebrated for offering ‘great restaurants at every level’.

What’s more, two Edinburgh-based establishments, Timberyard and Montrose, were recognised for having the best drinks lists in the UK.

Scotland’s world-class whisky and craft spirits have long been celebrated internationally, complemented by our renowned seafood, salmon and a thriving artisan bakery and confectionery scene.

More than just a cultural cornerstone, the sector is also a major economic driver, supporting over 129,000 jobs and contributing £15bn annually to the economy.

For businesses operating in the sector, the message is clear – Scotland is in the spotlight. And now is the time to leverage these milestones to grow international recognition, expand into new markets and drive long-term sustainable growth.

Unlocking investment and growth

The Scottish food and drink market is thriving with opportunities for exporters, investors and international buyers.

It’s encouraging to see that in our latest Bank of Scotland Business Barometer, which gauges business confidence by assessing trading prospects and economic optimism, nearly a third of firms are looking to expand into new markets and secure international investment.

Several key strands to the sector are driving this growth.

According to a report by the Scotch Whisky Association, the Scotch whisky industry has contributed a staggering £7.1bn to the UK economy in recent years, with exports now growing by 3.9%; totalling 1.4 billion bottles last year alone.

Scotland’s gin production is also booming, home to three of the world’s top-selling brands – Hendrick’s, Gordon’s and Tanqueray.

On top of this, HM Revenue and Customs data shows that Scottish salmon exports have reached a record high of £844m; soaring by 45% in just the past year.

These successes make Scotland an increasingly attractive destination for overseas investment, creating new opportunities for businesses to secure fresh sources of capital.

To build on this momentum, Scottish producers, manufacturers, suppliers and hospitality firms should focus on strengthening connections within the business community in Scotland.

For example, Glasgow-based wholesaler Lomond Fine Foods recently hosted its now annual food innovation trade show, where it showcases over 90 of its suppliers from across the country. Events like this provide a vital platform for Scottish producers to connect, collaborate and grow, creating opportunities for innovation and expansion.

Emphasising long-term growth strategies, such as introducing innovative production lines, packaging and diversifying into other revenue streams will also help further boost profitability.

We’re already seeing this in action.

Scotch whisky brands have long recognised the benefits tourism brings to their businesses, offering distillery tours and tastings at their visitor centres across the country. And now gin tourism is taking off, with lovers of Scotland’s other favourite tipple now able to indulge in luxury weekend retreats on Scottish islands like Colonsay, complete with exclusive tastings.

Investing in talent

To drive continued innovation in Scotland’s food and drink sector, it’s crucial for businesses to invest in its talent – skilled professionals will be essential to capitalising on rising demand and sustaining growth.

Our latest Business Barometer reveals that half of Scottish firms are prioritising investment in their teams to support growth. With advancements in machinery and technology, the demand for new skills is increasing.

Businesses that haven't invested in training are now facing skills gaps. Addressing these gaps will help companies meet growing demand, seize new opportunities and future-proof the industry.

Next steps

Business confidence in Scotland is at 53%, well above the UK average, with firms recognising the broader impact of events like the MICHELIN Guide ceremony on our shores.

Such occasions boost not just hospitality venues, but the entire supply chain.

To fully ride this momentum, SMEs must prioritise collaboration, market expansion and product diversification. By staying agile and leveraging the exposure from these world-renowned events, Scottish food and drink businesses can continue to grow, innovate and thrive.

After all, when opportunity knocks, it’s best to make sure your business is always ready to serve up success.

Chris Lawrie is the leader of Bank of Scotland’s SME Banking business