A number of innovative dairy processors moved up the ranks in this year's annual Top 100 Australian Food & Drink Companies report, produced exclusively by Food & Drink Business in collaboration with IBISWorld.
The a2 Milk Company jumped from 100th to 59th spot, benefiting from growth in the ANZ and China markets, especially with its a2 Platinum infant formula products, as well as continued volume growth in fresh milk and whole milk powder, according to IBISWorld.
Freedom Foods Group rose from 97th spot up to 84, thanks to an increase in shareholding in its Shepparton UHT dairy operations, as well as the sale of its shareholding in The a2 Milk Company.
Freedom Foods also benefited from the acceleration in sales growth of its Australia’s Own Kid’s Milk in China, in partnership with Shenzhen JLL.
A new arrival to the list was Bellamy’s Organic, which debuted at number 76.
IBISWorld attributes its revenue growth to increased brand awareness and growth across all retailers and online distribution channels.
The company has pushed deeper into independent supermarkets and pharmacies, which provide a strong growth channel.
Editorial by Food & Drink Business. All data sourced from IBISWorld.